August 17, 2010 Newsletter

Topics: CDA Clients Get $255M Ike Allocation; Geithner Addresses Housing Finance Reform; BABs Find International Market 

Last week, Community Development Associates announced that it has secured $255 million in allocation from the Qualified Hurricane Ike Disaster Area Bond program, for two of its clients. Read the full press release here.

Successful applicants in the first round of allocation were notified in early August, with $919 million awarded to seven total projects. Applications are now being accepted for the remaining amount of the allocation, which is approximately $881 million and will be awarded at the discretion of the Office of Governor Rick Perry.

Visit CDA's Hurricane Ike Bond page for information about counties in Texas that are qualified to receive Hurricane Ike allocation, and to download a map showing the allocation priorities.

To learn whether your company or client is eligible to apply for Hurricane Ike allocation, please call Lee McCormick at (214) 256-3121.


 •   Housing Finance Reform Discussion Begins Today - The Hill, August 17, 2010

"Treasury Secretary Timothy Geithner said Tuesday that the failures at Fannie Mae and Freddie Mac were "avoidable" and that lawmakers must forge a bipartisan overhaul of the housing finance giants.

"Congress and the Obama administration are at the beginnning of a debate on how to rewrite the housing finance system, with Geithner saying there is 'no clear consensus' yet on how to reform Fannie and Freddie. The two mortgage finance giants were bailed out by taxpayers in 2008 after suffering massive losses as the housing market plummeted."

•   BABs Find European Investors -

"Build America Bonds May be the New Sovereign Debt," according to Reuters. "Now investors in Europe, Asian financial centers such as Hong Kong and even the Middle East are looking into the bonds, including sovereign funds and central banks,[said Patrick Brett, director of Citigroup (C.N) U.S. municipal strategy]. The initial focus has been on big muni issuers such as Illinois and California, the leading BABs-sellers, mostly because deals totaling more than $250 million are the most cost-effective to sell abroad, Brett said." READ THE FULL ARTICLE.

"Illinois Takes BABs Across the Pond" ....READ THE FULL ARTICLE

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