Introduction to Tax-Exempt Financing
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In the world of economic development, bond financing is a valuable – though often underutilized – tool. Though a complex process, entities that choose to pursue it stand to benefit from long-term financing – typically at a lower cost – for purposes ranging from land and building acquisition to building renovation and new construction to acquisition and installation of machinery and equipment. Course participants will be introduced to this important tool in a setting that allows for the use of case studies and interactive discussion. This program aims to provide participants with an understanding of this foundational economic development finance tool by focusing on the following:
- explanation of tax-exempt financing
- types of tax-exempt financing
- project and borrower eligibility for tax-exempt financing
- the cast of parties involved in a tax-exempt deal and responsibilities of each
- the tax-exempt financing deal from beginning to end
- transaction documentation, rules and requirements
Who should attend?
No matter your level of experience in designing economic development packages for your clients, the aim of this program is to introduce you to and familiarize you with the basics of tax exempt financing and its role in helping you get projects done in your community. All economic development and finance professionals whose responsibilities include working with clients or financing programs will benefit from this program.
Jonathan W. Cox is a lawyer in Rhoads & Sinon’s municipal finance practice group where he serves as bond counsel in connection with the financing of capital projects for municipalities, school districts and sewer and water authorities, as well as non-profit entities, including continuing care retirement communities, hospitals, colleges and fire and emergency medical service providers. Mr. Cox also assists clients with State and Federal funding programs, including those of PennVest, PEDFA, Commonwealth Financing Authority, PEMA and the U.S. Dept. of Agriculture Community Development and Rural Utilities Service.
Mr. Cox is a native of Central Pennsylvania: he grew up in Wellsboro, attended Dickinson College, where he graduated magna cum laude, and then the Dickinson School of Law, where he was a Dean’s Scholar and the recipient of several honors and awards for his academic performance. Prior to entering the practice of law, Mr. Cox obtained a variety of academic, government and business experience teaching geology, consulting with the U.S. Geological Survey, and then planning and engineering fiber optic networks for an international telecommunications company.
Kenetha Hansen, EDFP, currently serves as Vice President, of Business Development for the York County Economic Alliance (YCEA). Prior to the founding of YCEA in 2012 through an affiliation between York County's chamber and economic development organizations, Ms. Hansen had served with the latter since 1989. Ms. Hansen brings 25 years of economic development finance and incentive program experience including local, state and federal matching loans, tax-exempt financing, grants, tax abatement and credit programs. Ms. Hansen oversees YCEA’s business development activities – including business attraction, retention and expansion – and leads the business development team comprising three Managers of Business Development, Expansion and Programs and Events.
Ms. Hansen earned her B.A. from Dickinson College and has been recognized – by the National Development Council – as a Certified Economic Development Finance Professional. She has served on the Board of the Pennsylvania Economic Development Institute since 2011, was a judge for Central Penn Business Journal’s 50 Best Women in Business in 2008 and has volunteered with various other organizations over the past several years.
Howard M. Sakin is a Senior Vice President and Managing Director in PNC’s Capital Markets Group. During his 25 year career in banking Howard has worked in corporate finance, commercial loan workouts and mergers and acquisitions. He also worked in public finance where he structured and completed over 190 bond transactions and advised hundreds more on interest rate risk management. His clients consist of borrowers in many industries including healthcare, education, technology, real estate, manufacturing, distribution, and not-for profits. Howard regularly speaks to professional groups and served, for ten years, as an Associate Professor of Finance at the University of Baltimore.
This event qualifies for (3.00) organizational PDUs (Finance) through the Pennsylvania Economic Development Institute (PEDI).*
*A complete explanation is provided in the Guidelines for Certification of Economic Development Organizations (Guidelines) issued by the Pennsylvania Department of Community and Economic Development (DCED) and in PEDI’s Policies and Procedures.
Note: We reserve the right to reschedule or cancel this offering. In the event of a cancellation, a refund will be provided to registrants.