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CDFA Announces Finalists for 2006 Practitioner's Showcase: Best Industrial Development Bonds Issuer

The Council of Development Finance Agencies (CDFA) has announced the four finalist organizations for the upcoming Practitioner's Showcase: Best IDB Issuer demonstration competition this coming June. The competition, the first of its kind, is a celebration of excellence and expertise in the issuance of Industrial Development Bonds (IDBs) for economic development.

The four finalist organizations include:

  • MassDevelopment – The Massachusetts Development Finance Agency's Tax-Exempt Industrial Development Bond Program
  • City of Minneapolis, Community and Economic Development – Bank Qualified Bank Direct Tax-Exempt Loan Program
  • City of Los Angeles Industrial Development Authority – Industrial Development Bond Program
  • Arkansas Development Finance Authority – Bond Guaranty Program

The four organizations have been invited to take part in the next phase of the competition by presenting their program at the official showcase on June 2, 2006 during the closing session of the 2006 CDFA Annual Development Finance Summit. The Practitioner's Showcase will feature a live audience vote to determine the 2006 Practice of the Year: Best IDB Issuer. The winning organization will be awarded a commemorative plaque, recognition in an official press release from CDFA to the media and development finance industry, as well as a special gift from the Council.

"The showcase will be a demonstration of the very best in the IDB finance industry which will focus on creating deal flow, marketing programs, executing projects, and raising the awareness of this important economic development finance tool," said CDFA's Executive Director Toby Rittner.

"The four finalists selected represent some of the best IDB programs in the country and include some of the industry's most knowledgeable leaders. This is truly going to be a tough competition to determine which of these worthy organizations is crowned as the best IDB issuer in the country," Rittner concluded.

The June 2 demonstration follows months of work by numerous organizations, which submitted applications for the showcase. A five-person selection committee consisting of bond finance industry experts including three issuer representatives, one bond counsel, and one financial underwriter selected the four finalist organizations. Issuers of all sizes were encouraged to apply to the showcase with the selection committee making final determinations based on the impact and effectiveness of the applicant entity.

On June 2, 2006, the development finance community will gather in Austin, Texas during CDFA's Annual Development Finance Summit to determine the outcome of the showcase. For more information about the CDFA Annual Summit please visit http://www.cdfa.net.

Comprised of the nation's leading and most knowledgeable members of the development finance community, CDFA represents over 170 public, private, and non-profit development finance entities. CDFA members are state, county, and municipal development finance agencies and authorities that provide or otherwise support economic development financing programs, including tax-exempt and taxable bonds, credit enhancement programs, and direct debt and equity investments, as well as a variety of non-governmental and private organizations. Private members range from regional and large investment banks to commercial finance companies to bond counsels, trustees, venture capital companies, rating agencies, and other organizations interested in economic development finance.

For questions or comments please contact Toby Rittner, Executive Director, CDFA at (216) 920-3072 or via email at trittner@cdfa.net.

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