The Chairman of the Securities and Exchange Commission (SEC) and the Director of the Office of Municipal Securities issued a public statement on May 4, 2020 (the Statement) with observations and requests regarding COVID-19...more
On April 27, 2020, the Federal Reserve Board announced updates to its Municipal Liquidity Facility loan program (the Facility) authorized under Section 13(3) of the Federal Reserve Act to provide lending support to states,...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump on March 27, 2020. ...more
The Federal Reserve Board’s New Municipal Liquidity Facility -
On April 9, 2020, the Federal Reserve Board announced a new Municipal Liquidity Facility loan program (the Facility) authorized under Section 13(3) of the...more
Given the far-reaching consequences of the COVID-19 pandemic, including unprecedented financial and operational impacts, volatile municipal market conditions and the potential for a significant economic contraction...more
The primary objective of the guidelines is to improve financial reporting by addressing issues related to P3s and APAs. The guidelines provide uniform guidance on accounting and financial reporting for transactions that meet...more
6/27/2019
/ Comment Period ,
Draft Guidance ,
GASB ,
Infrastructure ,
Project Finance ,
Public Private Partnerships (P3s) ,
Public Projects ,
Real Estate Development ,
Rulemaking Process ,
State and Local Government ,
Urban Planning & Development
The American Infrastructure Initiative (infrastructure plan) released by the White House last week aims to stimulate more than $1.5 trillion in new investment over the next decade, shorten the process for approving projects,...more
The municipal green bond market has taken another modest step towards solidifying recognized "green" standards in the market. Moody's previously published a proposed Green Bonds Assessment (GBA) methodology—a forward-looking...more
The municipal green bond market is in its infancy. For it to achieve scale and widespread recognition, a process for verifying whether a bond is “green” is needed so the market can fairly judge the merits of each green bond...more
On April 9, 2015, the Housing Authority of the City of El Paso (HACEP) and its development, private equity and lending partners closed Phase I of the largest Rental Assistance Demonstration (RAD) project in the country. Hunt...more
Pennsylvania Governor Tom Corbett today signed House Bill 1773 (HB 1773) into law, significantly overhauling the Municipalities Financial Recovery Act, known as Act 47. Enacted in the 1980s to provide assistance to...more
The Governor of Illinois last week signed into law legislation involving significant overhauls to the state’s pension system. The reform is intended to help stabilize both the pension system and the state's financial health...more
Thursday night, the Pennsylvania General Assembly passed a comprehensive transportation bill to fund roads, bridges, mass transit, rail freight, ports, and airports over the next five years. Governor Tom Corbett is expected...more
In 2012, Pennsylvania joined the growing list of states with legislation authorizing public-private partnership (P3) projects. Pennsylvania’s P3 legislation related specifically to transportation projects. Recently,...more
Hoping to address billions of dollars of necessary water infrastructure maintenance and improvements, the U.S. Senate passed the Water Resources Development Act (WRDA) on May 15, 2013....more
On February 25, Senator Jeff Merkley (D-Oregon) reintroduced legislation authorizing federal water infrastructure projects and creating a federal loan program modeled after the Transportation Infrastructure Finance and...more
The Northeast relies heavily on transportation for its day-to-day functions. Increasingly unpredictable climate changes, dense population, and rapidly aging infrastructure have made the ability to secure financial resources...more
As market regulators press for stricter reporting guidelines for state and local governments concerning pension disclosure in public offerings, the Government Finance Officers Association (GFOA) is advocating that funding...more
As the incidence of municipal fiscal stress continues to spread around the country, rating agencies, bond investors, public finance professionals, and market regulators are paying closer attention to public pension disclosure...more
11/15/2012