The authors of this study examine the impact of OZs on residential real estate by exploiting two datasets: a proprietary real estate dataset and census-tract demographics data between 2010 and 2019. They find that tracts with higher poverty and...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we discussed strategies for aligning social justice priorities with bond financing and actions in the muni markets.

The New Mexico Mortgage Finance Authority authored this affordable housing needs assessment in 2020. Housing markets in New Mexico vary widely between larger metro areas, many of which are growing and stable, and rural areas with declining...

Organizations received $175.35 million from the FY2020 round of the Capital Magnet Fund. Awardees plan to develop nearly 23,000 Affordable Housing Units, including more than 20,300 Rental Units and more than 2,600 Homeownership Units. Combined, 97%...

The following questions and answers document describes actions that can be taken by HUD and communities to assist Section 108 business borrowers experiencing economic distress as a result of coronavirus.

To address local disparities and help struggling areas thrive, governments at all levels have spent billions of dollars on a range of geographically targeted, or "place-based," economic development programs — mostly in the form of financial...

This investment profile from the Economic Innovation Group showcases 698 Prospect, a multi-phase development in North Carolina that includes student housing, commercial, and retail space. Impact investor Woodforest CEI-Boulos Opportunity Fund was...

IRS Revenue Procedure 2020-45 sets out the calendar year 2021 Low-Income Housing Tax Credit and Bond Volume Caps.

COVID-19 has highlighted the need for broadband and the gaps in broadband access. As part of our collaboration with Ice Miller, this video is designed to provide a review of the various approaches to expanding broadband access and how to assess...

The Urban Institute's Housing Finance Policy Center’s mission is to produce analyses and ideas that promote sound public policy, efficient markets, and access to economic opportunity in the area of housing finance. The November 2020 Housing Finance...

The 2020 Housing Instability & Homelessness Report Series is a collection of reports by UNC that utilizes local data to provide informative and actionable research to engage a variety of stakeholders including elected officials, policymakers,...

For most of 2020, the country has been beset by the COVID-19 pandemic, social unrest sparked by longstanding racial injustice, and the devastating impacts of climate change. Although low interest rates and continued growth in some sectors have...

During this installment of the CDFA-PFM Capital Markets Webinar Series, project finance experts and issuers discussed the viability of how private activity bond deals can fit into complex capital stacks.

Land banks are public authorities or non-profit organizations created to acquire, hold, manage, and sometimes redevelop property in order to return these properties to productive use to meet community goals, such as increasing affordable housing or...

CDFA's first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and public...

This is the sixth and final white paper in a series examining the potential creation of a food systems asset class that supports the market growth of local and regional food systems. This paper presents three replicable strategies for restoring...

The findings in this report primarily reflect the financial circumstances of families in the United States in late 2019, prior to the onset of COVID-19 and the associated financial disruptions. This survey contains updated information from follow-up...

History informs us that some people, especially the wealthy, flee cities in response to pandemics and other major catastrophes. In past pandemics and crises, refugees have typically returned, remaining attracted to the social and cultural dynamism...

What should issuers, underwriters, and advisors know about working with their team of professionals to complete a bond deal during times of crisis? This interview-style discussion featured a round-robin of advisors divulging the capital markets...

Despite being viewed primarily as an economic development tool in low-income communities—that is, positioning the local economy on a higher growth trajectory—many proponents have suggested that OZs also have a community development purpose of...

The Opportunity Zones tax incentive, created by the Tax Cuts and Jobs Act of 2017, was designed to spur investment in low-income and undercapitalized communities. The experiences of investors, developers, government officials, and business...

The National League of Cities, National Low Income Housing Coalition, and National Alliance to End Homelessness, and Mayors & CEOs for U.S. Housing Investments prepared this guide for elected officials to help maximize federal resources made...

Launched in 2018, the Washington Housing Initiative identifies and acquires rental properties in neighborhoods facing rising property values in the Washington, DC area, and keeps a majority of the apartments affordable for households with moderate...

This is the third report issued by the White House Opportunity and Revitalization Council as required under Executive Order 13853, and outlines best practices that could be integrated into public and private investments in urban and economically...

Ox Fibre Apartments will bring 83 new affordable apartments to Frederick, MD—a growing community located within one hour of both Washington, D.C. and Baltimore. Layering Opportunity Zones equity with state LIHTC, federal Historic Tax Credits (HTC),...

Cleveland-based Sustainable Community Associates (SCA) have broken ground on their fourth development in the city—The Tappan—which will bring 95 new apartments and a bakery to the Tremont neighborhood.

Parramore Oaks will bring 120 new energy-efficient homes and a boost of economic activity to a downtown Orlando, FL community. It is a new energy-efficient apartment building for families, bringing mixed-income with 96 affordable homes and 24...

The findings in this report primarily reflect the financial circumstances of families in the United States in late 2019, prior to the onset of COVID-19 and the associated financial disruptions. The survey also explored long-run financial...

During the April 24, 2020 Weekly COVID-19 Development Finance Briefing, listeners were given updates from SBA and HUD on early statistics for the PPP and EIDL programs, as well as additional actions taken by both agencies such as payment forgiveness...

The Quick Guide to CDBG Eligible Activities to Support Infectious Disease Response provides grantees with information on implementing CDBG funds in a coordinated effort with local health authorities before undertaking any activity to support state...

On April 16, 2020, HUD and FHA published these answers to frequently asked questions pertaining to all multifamily housing stakeholders. Topics include Emergency Preparedness, CARES Act assistance and other funding available Asset Management,...

As mandated through the Housing and Economic Recovery Act of 2008, state agencies administering the Program are required to submit demographic and economic data on LIHTC tenants to HUD. While not inclusive of all tenants served by the LIHTC, the...

This is a Summary of the Supplemental Appropriations included in the Senate's third COVID-19 Stimulus package, the CARES Act. More than 80% of the total $339.855 billion provided in the emergency supplemental appropriations goes to state and local...

Volatility has risen significantly in financial markets, driven by COVID-19. How might this affect US multifamily and commercial real estate (CRE) transaction markets? In this paper, Moody's explores these issues, fully acknowledging that learning...

Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic...

CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help...

"Moving America and the Environment Forward" is a House Ways and Means Committee statement of principles on how the committee wants to approach an infrastructure bill. It includes $760 billion of proposals.

This report by the Staff of the Joint Committee on Taxation was prepared on January 29, 2020 for a hearing before the House Committee on Ways and Means. It discusses an overview of infrastructure financing options, including the highway trust fund,...

The Low-Income Housing Tax Credit (LIHTC) is a complex but crucial tool for the production and preservation of affordable rental housing. In this report, the Urban Institute outlines the basics of the LIHTC program, including how it works, the...

IRS Revenue Procedure 2019-44 sets out the calendar year 2020 Low-Income Housing Tax Credit amounts, Bond Volume Cap, loan limits on agricultural bonds, arbitrage rebate rules, and other important amounts.

Another affordable rental housing funding crisis is brewing–a crisis in the supply of private activity bonds (PABs). PABs are a big part of the answer to the affordable rental housing crisis, but are subject to the annual state volume cap, in...

In 2011, Governor Cuomo created ten Regional Economic Development Councils (REDC) and the Consolidated Funding Application (CFA) to advance the administration’s efforts to improve New York’s business climate and expand economic growth. This 2019...

Linden is a distressed neighborhood in Columbus, Ohio. This plan is designed to create a roadmap for safe neighborhoods, economic development and access to affordable housing, quality healthcare, education and employment opportunities in Linden.

How can stakeholders use the Opportunity Zones incentive to benefit disinvested neighborhoods and expand access to affordable housing? The experiences of investors, developers, government officials, and philanthropy representatives show how the...

John Wooten, Philip Angelo, Colin Kalvas, Ryan Kozak, and Dennis Reilly present Bond Financing for Healthcare & Housing Projects

Tony Portuondo, Dena Bell, and Damon Burns present Innovative Housing Finance Programs.

Joseph Baietti, Tammie Hoy Hawkins, and Jean Richardson present Utilizing the HUD Section 108 Loan Guarantee Program.

This summer 2019 performance report from the Idaho Economic Development Association discusses economic development in Idaho and offers several case studies.

This report shows that as of October 2018 over 100,000 units of public housing were converted to the Section 8 platform under RAD and over $12.6 billion was raised, with significant leverage, from numerous sources to improve the physical and...

This Excel sheet shows CDBG HUD-Administered Areas Expenditures for 2001-2019. Since CDBG funds may be used for a wide variety of housing, community, and economic development activities, the use of those funds may be identified in these profiles by...