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Online Training Course: Economic Development Finance Programs

Date: June 3 - 5, 2020Time: 10:30 am - 5:00 pm

Location: Online (This course is no longer being held in Cleveland, OH. See below for more details.)


As a follow-up to IEDC’s organizational statement made on March 9 on the evolving situation with the Coronavirus/COVID-19, out of an abundance of caution and concern for the safety of registrants and instructors, IEDC has made the decision to shift our Economic Development Finance Programs Training course happening June 3-5, from an in-person course format into an online course format. The Economic Development Finance Programs course originally scheduled to occur in Cleveland, OH, June 3-5, will no longer be held face-to-face. Instead, you can attend from the comfort and safety of your own home or office on the same dates (June 3-5). We apologize for the inconveniences you will experience as result of this change. We will email current registrants with more details and we hope that you are satisfied with our solution.

Course Dates - Dates of the online Economic Development Finance Programs course remains June 3-5, 10:30 am – 5:00 pm ET each day (subject to change). This course will offer an interactive experience for both instructors and attendees that allows everyone to engage with one another similarly to how they would in a classroom setting. A revised agenda will be forthcoming, however, for your information, we will be sure to keep the scheduled breaks throughout the day (in between sessions and for lunch).


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This course is held in partnership with City of Cleveland, Department of Economic Development.


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



June 3


Welcome and Introductions


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


Lunch on your own


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)


Homework - Case Study


June 4


Homework Review


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

Case Study


Financing Example: Business Loan Fund


Lunch on your own


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


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


Homework - Case Study


June 5


Homework Review


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

Case Study


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

Case Study


Lunch on your own


Real Estate Development and New Markets Tax Credits
• Key Issues

Case Studies


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, attendance at all sessions on day 1 (Wednesday), day 2 (Thursday), and day 3 (Friday) of the course, as well as your participation in the interactive course activities are required to earn full credit. Partial credit is not given.**



Instructor information is forthcoming.



  CEcD logo

This course meets the professional development requirements for the Certified Economic Developer (CEcD) exam. CEcDs earn recertification credits for participation.




By April 24

April 25 - May 22

*After May 22

IEDC Member








Full Time Student**




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

** Copy of current transcript required.

  Credit Card

Individual paying by credit card: Click this button if you are registering as an individual IEDC member or nonmember and paying by credit card.

  Check / PO

Individual paying by check or purchase order: Click this button to download a form (PDF) if you are paying by check or purchase order. Form must be faxed or mailed, and accompanied by payment.

Refunds less a $75 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 $75 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.