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Training Course: Economic Development Finance Programs

Date: September 27 - 29, 2017

Location: Baltimore, MD


This course is held in partnership with the Maryland Economic Development Association (MEDA).


» Agenda
» Instructors
» Certification
» Accommodations/Training Location
» Registration


The core objective of this analytical course is to explain the financial tools used to stimulate private sector investment that results in the creation of permanent, private sector jobs, increased productivity and improvement in the local tax base. Specifically, the course will review current debt, equity, grant and incentive-based financing programs that are accessible to practitioners both rural and urban. Moreover, course participants will learn how to calculate debt/service ratios, cash on cash rate of return, capitalization rates, underwriting ratios, debt coverage ratios and similar financial tools used to identify project feasibility. Course instructors will also spend time teaching how potential investors measure return on investment (ROI) how lenders evaluate risk. Participants will have an opportunity to work through multiple case studies in order to solidify their knowledge of the finance programs.

 

Course Highlights:

• Learn how to help small businesses adjust the imbalance between cost and revenues
• Explore the fundamentals of reducing risk of default and foreclosure
• Understand credit risks - matching sources and uses of funds to lower monthly payment and strengthen cash flow position
• Review maturity risks - providing collateral substitution with guarantee of collateral cushion
• Evaluate Community Development Block Grants, Rural Business Enterprise Grants and Public Infrastructure Grants
• Revolving Loan Funds, Community Development Financial Institutions
• New Markets Tax Credits, Historic Preservation Tax Credits, Tax Increment Financing

 

Agenda

September 27

8:30 - 9:00 am

Registration

9:00 - 9:30 am

Welcome and Introductions

9:30 am - 12:30 pm

Economic Development Financing

• The Goals of Economic Development Finance
• Tools and Incentives
• Public Sector
• Private Sector
• Loans, Guarantees, Grants and Tax Incentives
• Calculating Debt Service

Case Study
• Source and Use Statement

12:30 - 2:00 pm

Lunch on your own

2:00 - 4:30 pm

Operating Business Financing Programs
• Program Models
• Subordinated Financing
• Loan Guarantees
• Micro Lending
• Equity Investments
• Small Business Administration (504, 7(a), and micorlending)
• Community Development Finance Institution
• Industrial Development Bonds (IDBs)

4:30 pm

Homework - Case Study

 

September 28

8:30 - 9:00 am

Homework Review

9:00 - 10:00 am

Revolving Loan Funds
• Matching Sources and Uses of Funds
• Funding Sources
• CDBG
• Foundations
• Community Reinvestment Fund
• Banks and "Lending on a Spread"

Case Study

10:00 am - 12:00 pm

Financing Example: Business Loan Fund

12:00 - 1:00 pm

Lunch on your own

1:00 - 3:00 pm

Real Estate Financing

Key Financial Analysis Documents
• Source and Use Statement
• Operating Pro Forma

Permanent Lender Underwriting and Ratio Analysis
• Underwriting Issues
• Lender Ratios
-- Loan to Value Ratios
-- Debt Coverage Ratio

Case Study

1:00 - 3:00 pm

Public Financing Programs
• Subordinated Loan Programs
• CDBG – Float Loan Program
• CDBG – Section 108 Program
• Other methods public sector assist real estate development

4:00 pm

Homework - Case Study

 

September 29

8:30 - 9:00 am

Homework Review

9:00 - 10:30 am

Taxes and Real Estate Development
• Cash Flow After Tax
• Depreciation
• Passive Income/Loss Limitations

Case Study

10:30 am - 12:00 pm

Low-Income Housing Tax Credits Rehabilitation Tax Credits (Historic Tax Credits)
• Tax Credit Thresholds
• Limited Partnerships

Case Study

12:00 - 1:30 pm

Lunch on your own

1:30 - 2:30 pm

Real Estate Development and New Markets Tax Credits
• Key Issues

Case Studies

2:30 - 3:00 pm

Pulling It All Together: Structuring
• Financing Tools
• Debt and Equity Vehicles
• Tax-exempt bond financing

* Agenda subject to change

**Please note: In order to receive full IEDC certification credit for this course and a certificate indicating course completion, participants must stay until the final session on the last day. Please make travel plans accordingly.

 

Instructors

Kevin Gremse
East Team Leader
National Development Council

Kevin Gremse is an economic development professional with over two decades of experience. Kevin has used his working knowledge of business credit and real estate underwriting and proven experience with federal, state, and local economic development incentive programs to structure development transactions exceeding $600 million throughout the country.

As a Senior Director at NDC, Kevin manages a team of professionals who work in over thirty municipalities in the eastern United States. Kevin coordinates a multi-disciplined set of economic and housing development services, including technical assistance, training, and financial services to public and private sector clients. Kevin assists to advance the work of NDC’s affiliated programs, including its federal tax credit investor programs, its pubic facility development division, and its small business lending company in client communities. Kevin is a widely experienced instructor for many of NDC’s economic and housing development finance courses and professional development programs.

Kevin is a graduate of the University of Scranton and earned a master’s degree in public finance from the University of Pennsylvania’s Fels Institute of Government. Prior to his career NDC, Kevin worked in the economic development field with several municipalities and also served in the Jesuit Volunteer Corps (JVC). He currently serves on the board of directors for Catholic Charities of Fairfield County and the Community Capital Fund, a community development financial institution (CDFI). He lives in Connecticut with his wife and four children.

 

Accommodations/Training Location

Kimpton Hotel Monaco Baltimore
2 North Charles Street
Baltimore, MD 21201
1-800-546-7866

Room Rate: $159
Cut off date: September 5, 2017

 

Registration

 

By Aug 18

Aug 19 - Sept 15

*After Sept 15

IEDC Member

$595

$735

$755

Non-member

$770

$910

$930

Full Time Student**

$125

$145

$165

*Walk-in registrations will be accepted. Full payment must be made on-site in order to attend the course.

** Copy of current transcript required.

 
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Refunds less a $60 cancellation fee will be issued for all cancellations received in writing to fax: (202) 223-4745 or email: prodev@iedconline.org at least 10 business days prior to the course - please allow 3-4 weeks. All registrations regardless of payment status are subject to the $60 cancellation fee. No refunds or credit transfers to a future course will be issued for cancellations received within 10 business days of the course. Telephone cancellations are not accepted. Attendee substitutions for a course may be made at any time prior to the course.