Private activity bonds

A demand survey conducted by CDLAC in November foreshadowed $11 billion in requests from applicants for the state's private activity bonds.

The 150-acre facility is expected to create about 200 local full-time positions and between 500 and 1,000 indirect local jobs.

The borrowing, which will be backed by availability payments, will finance the first six of the state's nine-span Major Bridges P3 program.

South Carolina-based Jasper Pellets borrowed $12.5 million in private activity bonds in 2018. A deal to settle the firm's Chapter 11 bankruptcy pays the debt.

The allocation for Strategic Biofuels LLC received final approval from the Louisiana Community Development Authority, conduit issuer for the tax-exempt bonds.

Borrower Jasper Pellets and trustee US Bank have been locked in a legal battle after the company filed for Chapter 11 bankruptcy on May 27.

The low-interest federal loans will complete financing packages for Virginia's express lane extension outside Washington D.C. and Maryland’s Purple Line light rail project.

Gov. Steve Sisolak plans to dedicate $500 million in federal funds to developing affordable housing.

Issuer groups have sent a letter to the Internal Revenue Service requesting remote hearings be made permanent in connection with the issuance of private activity bonds as many issuers still grapple with remote working and ongoing COVID-19 concerns.

The $600 million broadband private activity bond program included in the Infrastructure Investment and Jobs Act has often been overlooked in discussions of funding for rural broadband.

Maryland blames a "post-pandemic market" for cost increases lifting the light rail line's price tag to $9.28 billion. The system is to open four years late in 2026.

The Internal Revenue Service has released guidance providing temporary relief for low-income housing tax credit and private activity bond-financed properties due to the ongoing threat of COVID-19.

Inflation, labor shortages and implementation uncertainties loom as the Infrastructure Investment and Jobs Act moves into center stage next year.

Industry advocates want to preserve allocation of private activity bonds to the states and help Congress understand the benefits of advance refunding.

The odds of non-housing projects receiving private activity bond funding in California are slimmer as state officials focus on its housing crisis.

The Build Back Better Act contains provisions that could help states finance additional affordable homes.

The new tax-exempt private activity bond categories for broadband and carbon capture projects are designed to avoid straining state volume cap.

By lowering the amount of private activity bonds needed to finance low-income housing, the provision would free up PABs volume for other projects.

CDFA is advocating for a holistic solution from Congress to address private activity bond challenges.

The growing P3 sector would enjoy a boost across many markets, including rural broadband, under P3-friendly provisions in the bipartisan infrastructure bill.