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HomeFrom the MayorDevelopment Finance Review Weekly – May 3, 2018

Development Finance Review Weekly – May 3, 2018

 

Development Finance Review Weekly
May 3, 2018
CDFA Development Finance Review Weekly

Feature
$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.
Upcoming Events
Intro EB-5 Finance WebCourse
News from The Bond Buyer
The latest municipal finance headlines from The Bond Buyer.Cleveland, OH Approves $156M in Bonds for Capital Improvements

The Cleveland City Council gave approval to Mayor Frank Jackson’s administration to borrow more than $156 million for capital improvements, including a new police station and equipment to make Cleveland’s streets safer.

House FAA Bill has $1B for Smaller Airports

Smaller, non-hub airports in rural areas were the big winners in the fight for additional infrastructure spending in the FAA reauthorization bill recently passed by the House. The five-year Federal Aviation Administration Reauthorization Act of 2018 authorizes a $1 billion annual increase in funding for this new program.

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.

CDFA Spotlight
Complete Survey on Portfolio Management Software

CDFA is currently collecting basic information about the portfolio management software used by Development Finance Agencies across the country. This will help CDFA to provide best practices in software that DFAs can use for underwriting, servicing and ongoing management of bond, loan and other incentive portfolios. Fill out the survey today!
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.
This Week’s Headlines
USDA Seeking Applications for Community Facilities Program
U.S. Department of Agriculture | May. 3 | Rural Development | U.S. Dept. of Agriculture (USDA)State Loans Will Support Eight PA Small Businesses
PA DCED | May. 3 | Access to Capital

Trump’s Solar Tariffs Cause a Scramble in the Industry
The New York Times | May. 3 | Energy Finance | Green Finance

USDA Seeking Applications for RCDI Program
U.S. Department of Agriculture | May. 3 | Rural Development | U.S. Dept. of Agriculture (USDA)

TAD Ballot Question Confuses Early Voters in GA
The Daily Tribune News | May. 3 | Tax Increment Finance (TIF)

Historic Tax Credits Now Deemed Safe
The Oklahoman | May. 3 | Federal | Tax Credits | Historic Preservation

EDA to Host Disaster NOFO Webinar on May 9
U.S. Economic Development Administration | May. 3 | Access to Capital | Disaster Recovery & Relief | U.S. Economic Development Administration (EDA)

York Co, NE Receives 323K to Establish Housing RLF
York News-Times | May. 3 | Access to Capital | Revolving Loan Funds (RLFs)

Southaven, MS to Hold Hearing on $5M TIF Bond
DeSoto Times-Tribune | May. 3 | Bond Finance | Infrastructure Finance | Tax Increment Finance (TIF)

OCC Releases April List of CRA Evaluations
Novogradac & Company | May. 2 | Community Reinvestment Act (CRA)

AeroControlex Wins State Tax Credit for Expansion
Crain’s Cleveland Business | May. 1 | Access to Capital | State Finance Program | Tax Credits

CO Awards First Round Of 2018 LIHTCs
Colorado Housing and Finance Authority | May. 1 | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

Four Companies Receive MN Job Creation Fund Grants
MN DEED | May. 1 | Economic Development

Rep. Lofgren Introduces Clean Energy Victory Bond Act
U.S. Congress | May. 1 | Bond Finance | Energy Finance | Green Finance

OH Tax Credits Will Spur $119M in New Investments
State of Ohio: Office of the Governor | Apr. 30 | Tax Credits

Rhode Island Housing Approves LIHTC for Three Developments
Providence Journal | Apr. 30 | Access to Capital | Tax Credits

EPA Announces $54.3M in Brownfield Grants for Contaminated Properties
EPA Press Office | Apr. 30 | Brownfield Financing

NIFA Announces New Funding for Sustainable Agricultural Systems
USDA NIFA | Apr. 27 | Agriculture Finance | Green Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Analyzing the OZ Designations, and Next Steps
Enterprise Community Partners | Apr. 27 | Opportunity Zones

National Sponsor Spotlight
MB Financial Bank, NA MB Financial Bank, NA

MB has a 100+ year history of building deep and lasting relationships with public and private companies and individuals.  MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their…
McCarter & English, LLP McCarter & English, LLP

McCarter & English, LLP is a firm of approximately 400 lawyers with offices in Boston, Hartford, Stamford, New York, Newark, East Brunswick, Philadelphia, Wilmington and Washington, DC. In continuous business for more than 170 years, they are among…
McGuireWoods McGuireWoods

With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP, uses client-focused teams to serve public, private, government and nonprofit clients from virtually every area of the law.
Partner Spotlight
Institute of Economic Development (IED) - United Kingdom Institute of Economic Development (IED) – United Kingdom

The Institute of Economic Development (IED) is the UK’s leading independent professional body representing economic development and regeneration practitioners. Established over 30 years ago, the IED’s key objective is to represent the interests of…
CDFA Bookstore
Cover thumbnail Innovation Finance Reference Guide

The Innovation Finance Reference Guide explores the growing seed, venture capital and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance intiative that supports entrepreneurship, business investment and job creation.
New Members
Orlando Economic Partnership – Orlando, FL
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 www.cdfa.net or e-mail info@cdfa.net.
Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net