PEDA - Pennsylvania Economic Development Association

Pre-Conference Session: Exploring the Role of Bond Finance in Your Organization’s Sustainability Plan

  • 10/24/2022
  • 8:30 AM - 11:45 AM
  • Hyatt Place State College (219 W Beaver Ave, State College, PA 16801)

Registration


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Pre-Conference Session

Pre-Conference Session: Exploring the Role of Bond Finance in Your Organization’s Sustainability Plan

Session Overview: The current Commonwealth Court Case on prevailing wage, when a local Pennsylvania authority is used as a conduit issuer, has many local Industrial Development Authorities (IDAs) wondering how this may impact future bond financing. During the recession, low interest rates on conventional financing reduced the demand for tax-free bond issues. With interest rates rising, many organizations will be looking for alternatives to conventional finance such as bond finance, but IDAs are unsure how to proceed, given the current court case. Through the pandemic, the profession also experienced a great amount of retirements of established economic development professionals and PEDA sees a clear value in revisiting the discussion of the use and sustainability of local IDAs. Among the topics to be addressed during this session are the following ones.

  • Ursinus College  / Commonwealth Court Update
    • Department of Labor and Industry Ruling on Ursinus College issue through Montgomery County HEHA
    • Appeal to Commonwealth Court. Timing for hearing, and judgement
    • What happens after the Commonwealth Court rules? 
  • Traditional IDA Bond Conduit Finance from Start to Finish
    • Application to DCED
    • IDA Solicitor involvement with Bond Counsel / Financial Institution
    • TEFRA Hearing
  • How to use a local IDA for other purposes:
    • IDA Conduit Mortgages
    • IDA Conduit Financing for Improvement Districts (NID, BID, TID)
    • IDA is a public authority - PA programs and Fed programs that require public authority applicants on behalf of other entities:  RACP; Statewide LSA; US DOT (RAISE PIDP)

Eligible members of PEDA engaged in its individual certification program may earn 3.00 PDUs through participation in this pre-conference session.

PIDA has determined that, through their participation in this pre-conference session, eligible representatives of DCED-certified economic development organizations (CEDOs) may earn 3.00 finance PDUs toward the annual PIDA requirement of 6.00.

Presenters:

Michael Grigalonis, COO & Executive VP, Chester County Economic Development Council (Moderator)

        Ramiro M. Carbonell, Shareholder, Stevens & Lee

        Kenneth R. Luttinger, Shareholder, Buchanan Ingersoll & Rooney PC

    Karl S. Myers, Co-Chair, Appellate Practice Group, Stevens & Lee

    Gary W. Smith, President & CEO, Chester County Economic Development Council

Cancellation / Refund / Substitution Policies

Requests for cancellations and refunds must be made in writing and received by the date and time listed in the registration brochure. No refunds will be granted after that point. All cancellations and refunds are subject to an administrative fee. No-shows will be billed in full. Substitutions are permitted, but rate adjustments (i.e., member vs. non-member, early-bird vs. standard, etc.) will apply.

Consent to Use of Photographic Images

Registration for, attendance at or participation in this pre-conference session constitute an agreement by the registrant, attendee or participant to PEDA’s use and distribution (both now and in the future) of the registrant’s, attendee’s or participant’s image in photographs.

Parking

Self-parking is available at the Frasier Street or Beaver Street Garages. Overnight guests of the hotel may park in either garage at a rate of $12 per night plus tax and enjoy unlimited exits. Guest room keys can be programmed upon check-in to provide access to the garage.

COVID-19 Procedures

PEDA strongly encourages all conference participants to be fully vaccinated prior to attending the 2022 PEDA Fall Conference and continues to monitor guidance by the CDC and state health officials. Participants are asked to remain up-to-date regarding the latest CDC guidance during their visits to the conference venues and to visit the venues’ websites to learn how they are working to ensure your comfort. Thank you for your continued support and we look forward to seeing you at the conference.

Miscellaneous

This agenda is subject to change. PEDA also reserves the right to reschedule or cancel this offering or to modify the start or end times. In the event of a cancellation, a refund will be provided to registrants.

To ensure DCED/PIDA staff have the most current information regarding your professional development achievements, please be sure to submit your credits to them following this event.

On-site registration is currently expected to take place between 8:00 am and 8:30 am.

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