|$250M Bond Plan Would Create an Island in Fort Worth, TX
A proposal for $250 million of flood control bonds could have a dramatic impact on a section of Fort Worth by creating a new recreation-focused island. Promoters pitch Panther Island as an 800-acre mixed-used development surrounded by more than 12 miles of canals and a continuous river walk.
Omaha, NE TIF Projects “Changing Landscape”
According to a new annual TIF report, the City of Omaha approved $44.7 million in TIF financing for 18 projects last year. Additionally, 12 TIF projects went back on the tax rolls in 2017, resulting in a boost in property valuations and property tax revenues.
KeyBank Increases LMI Lending as Part of $16.5B CBA
KeyBank is increasing its lending and other investments in low- and moderate-income communities as part of its $16.5 billion community benefits agreement with the National Community Reinvestment Coalition. The bank committed to invest $16.5 billion (12% of its total assets) in LMI areas over a five year period.
USDOT Announces $1.5B NOFA for BUILD Grant Program
The Better Utilizing Investments to Leverage Development (BUILD) program will disburse $1.5 billion for surface transportation projects with significant local or regional impacts, including funding for roads, bridges, transit, rail or port support. The BUILD Grant program replaces the current TIGER Grant Program.
PIDC Announces $6M Impact Development Fund for Philadelphia, PA
PIDC, Philadelphia’s public-private economic development corporation, has announced the launch of a new $6 million Impact Development Fund to support commercial, industrial, and mixed-use development in neighborhoods and commercial corridors throughout Philadelphia.
Key Considerations on Tax Reform and the Muni Market
The Municipal Analysts Group of New York held a panel on the impact of tax reform on the muni market. This article provides the responses to key questions from George Friedlander that relate to how tax reform is/will affect the municipal market.
Action Guidelines Released for Changes to Tax Advantaged Bonds
Revenue Procedure 2018-26 introduces guidelines for effecting remedial actions in connection to certain categories of bonds. These guidelines apply to nonqualified uses in respect of tax-advantaged bonds that take place on or after April 11, 2018, and may apply to such situations occurring prior to April 11, 2018.