HomeFrom the MayorDevelopment Finance Review Weekly – April 26, 2018

Development Finance Review Weekly – April 26, 2018

Development Finance Review Weekly
April 26, 2018
CDFA Development Finance Review Weekly

Small Business Development & Impact Investing White Paper

CDFA’s new Small Business Development & Impact Investing White Paper documents the potential of a collaboration between Impact Investors and high performing Development Finance Agencies (DFAs) to fill the capital gaps facing small businesses and to accelerate DFAs as a major source of capital to enable small businesses to grow, create jobs and spur economic and community development.

Freeport, IL Uses TIF Bond to Support Micro-Loans

The Freeport City Council has approved a roughly $1.05 million bond issue that will be used make loans of between $5,000 – $100,000 to entrepreneurs who want to open a business in downtown Freeport. The bond issuance is backed by the downtown TIF district.

IRS Releases FAQs on Opportunity Zones

The IRS has released a list of frequently asked questions regarding Opportunity Zones. According to the FAQs, taxpayers will self-certify to become Qualified Opportunity Funds (thus no approval by the IRS is required).

Lexington, KY’s Local Food Coordinator Key for Economic Development

In 2017, the Lexington-Fayette Urban County Government started a CSA pilot program for LFUCG employees and the impact to date has been at least $850,000 in sales for Kentucky farmers.

St. George, UT Provides Tax Incentives, IDBs for Manufacturer

St. George City Council approved a 10-year tax agreement with The Ram Manufacturing Company to incentivize its expansion and creation of new jobs. The City Council previously approved up to $10 million in industrial development bonds for the project.

Three Ways P3s Can Be Used in KY Today

The state of Kentucky has a large backlog of infrastructure projects due to lack of funding. This article by P3KY discusses how this issue can be addressed by increased use of public-private partnerships (P3s).

King Co, WA Receives First WIFIA Loan

The U.S. Environmental Protection Agency (EPA) issued its first-ever loan from the Water Infrastructure Finance and Innovation Act (WIFIA) program to King County, Washington, to help finance its Georgetown Wet Weather Treatment Station.
Upcoming Events
Toby Rittner, CDFA President & CEO, to Speak at CohnReznick NMTC Summit

CDFA is proud to announce that President & CEO, Toby Rittner, will once-again speak at the upcoming CohnReznick New Markets Tax Credit Summit in Miami on May 15. CDFA encourages you to join us in Miami Beach for the Summit on May 14-16, 2018.

Intro EB-5 Finance WebCourse

News from The Bond Buyer
The latest municipal finance headlines from The Bond Buyer.

Marin, CA Hospital Prepares to Issue $159M in Revenue Bonds

Marin, Calif., General Hospital hopes to issue just under $159 million in revenue bonds next month to help pay for its new hospital wing and parking garage, and to retire debt. The bonds would be repaid over 27 years.

AL Zoo Financed by $27M in Bonds

The Alabama Gulf Coast Zoo is constructing a new facility, financed with $27 million of municipal bonds, outside of an existing flood zone with buildings that can withstand severe category 5 hurricanes.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Upcoming Webcasts
CDFA Federal Financing Webinar Series: U.S. Department of Agriculture (USDA)
June 14, 2018 – 2:00 PM Eastern

In this webinar, experts on USDA financing programs will be on hand to discuss the myriad rural development finance programs offered by the USDA, as well as how rural communities can effectively access and deploy USDA grants and loans. The focus of the webinar will be on the Community Facilities (CF) Program, the Rural Energy for America Partnership (REAP), and Rural Business Development Programs.
Job & RFP Postings
Hiring: Executive Director – Rhode Island Health and Educational Building Corporation

The Rhode Island Health and Educational Building Corporation is hiring an Executive Director that will be responsible for the day-to-day operations of the Corporation, achieving its objectives as defined in enabling legislation, in the Mission Statement and in directions from the Board.

Hiring: Vice President of Investment Banking – MassDevelopment

MassDevelopment is accepting applications for the position of Vice President of Investment Banking in the Agency’s finance programs department. Reporting to the Senior Vice President of Institutional Finance, the Vice President of Investment Banking will manage tax-exempt bond transactions in the infrastructure, energy and nonprofit sectors.
This Week’s Headlines
Baton Rouge Water Company Receives Loan to Improve Water System
WGMB Fox44 | Apr. 26 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Incentives Watch: Farm-to-Food Bank Credits
Bloomberg BNA | Apr. 26 | Food Systems Finance | Incentives

Pittsburg, KS Votes to Use RLF on Dilapidated Building
CBS 7 KOAM | Apr. 26 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Awards $300K to Revitalize Blighted Properties in Hawai‘i
Maui Now | Apr. 26 | Access to Capital | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

What Opportunity Zones Mean for America’s Poorest Neighborhoods
CityLab | Apr. 25 | Opportunity Zones

Opportunity Zones Designations Show Promise
Brookings | Apr. 25 | Opportunity Zones

Local Leadership Key for OZs
The Hill | Apr. 25 | Opportunity Zones

Developer Transforming Riverfront Warehouse in Pittsburgh, PA
TRIB Live | Apr. 24 | Brownfield Financing | Tax Credits

VHFA Awards Tax Credits for Affordable Housing Developments
Vermont Housing Finance Agency | Apr. 24 | Community Development | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

Monarch Private Capital Closes $14.4M HTC Transaction
Business Wire | Apr. 24 | Access to Capital | Brownfield Financing | Historic Preservation | Tax Credits

PA Awards $43.4M in Housing Tax Credits
PA Housing Finance Agency | Apr. 24 | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

State of MN Announces $17.8M for Workforce Development
MN DEED | Apr. 24 | Economic Development

Ben Franklin Technology Partners Invests $203K in Regional Companies
Ben Franklin Technology Partners | Apr. 24 | Access to Capital | Innovation Finance

PACE PPA Is a Game Changer for Connecticut and Beyond
PACENation | Apr. 24 | Energy Finance | Property Assessed Clean Energy (PACE)

U.S. Opportunity Zones Raise Question Over Who Will Benefit
Bloomberg | Apr. 23 | Access to Capital | Investing in Opportunity Act (IIOA) | Opportunity Zones

Regan Development Opens Affordable Niagara Gateway Apartments
The Buffalo News | Apr. 23 | Access to Capital | Historic Preservation | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD) | U.S. Dept. of Interior – National Park Services (NPS)

CDC Gets $8M Construction Loan from Citizens Bank
East Boston Times-Free Press | Apr. 23 | Access to Capital | Tax Credits

Dollars from China Fuel a New Washington Vineyard and Resort
Good Fruit Grower | Apr. 23 | EB-5 Visa

CanAm Enterprises Secures $1.8B Construction Loan
News Barons | Apr. 23 | EB-5 Visa

Energy Department Announces $12M in Small Business R&D for EERE
U.S. Department of Energy | Apr. 20 | Energy Finance | U.S. Dept. of Energy (DOE)

Denison, TX Approves $1M Bond for Main Street Work
Herald Democrat | Apr. 20 | Bond Finance | Tax Increment Finance (TIF)

Affordability is Job No. 1 for New BeltLine Executive
BizJournals | Apr. 20 | Brownfield Financing | Tax Increment Finance (TIF)

Commissioners Approve $25M in Bonds in Spokane, WA
Spokesman | Apr. 20 | Bond Finance | Brownfield Financing

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Partner Spotlight
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CDFA Bookstore
Cover thumbnail DFCP Study Pack

The DFCP Complete Book Package contains all of the reference guides to study for the DFCP final exam at a 10% discount.
New Members
Horry County – Conway, SC
The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation’s leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit or e-mail
Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300