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CDFA COVID-19 Recovery & Relief Update - May 11, 2021

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COVID-19 Recovery & Relief Update
May 11, 2021
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COVID-19 Recovery & Relief Update


Discover Housing Finance Tools at CDFA Virtual Summer School
The impact of housing on economic development efforts is a critical issue in many communities. The Intro Housing Finance Course will explore how the development finance toolbox can be utilized to support a myriad of housing challenges and opportunities, as well as how development finance agencies can become key partners to housing developments in their community.

Why Did US Jobs Growth Slow in April?
After job growth slowed in April, Stephanie Aaronson cautions that employment is going to be slow to return to pre-pandemic levels as employers and workers try to match their needs and pay expectations. She also addresses the relationship between unemployment benefits, wages, and slowing the spread of the coronavirus, and why there may continue to be lingering negative effects on women's labor force participation.

States, Cities Begin to Order Workers Back to the Office
As more people are vaccinated and coronavirus infections drop, Missouri workers are among the state and local government employees being directed to disconnect from Zoom and return to in-person work. But across-the-board mandates create a conundrum for employees who have health concerns or may still lack access to child care, according to legal experts.

NavNet Kick-Off: Understanding the Community Navigator Program
Next Street is hosting a virtual event on Friday, May 14th at 12pm EST. Hear directly from SBA Administrator Isabel Guzman about the Community Navigator Program, what you can do to be a part of it, and how NavNet will bring together small business heroes to share and learn best practices, create new connections, and access resources and data.

For Farmers Surviving the Pandemic, Timely Federal Grants and CDFIs Made the Difference
Last winter, farmers in Maine may have had little hope of still being in business in the spring of 2021, given how their businesses were rocked by the pandemic. But for many, their fortunes quickly changed when Coastal Enterprises Inc. (CEI), Maine's longtime community development financial institution, stepped in to administer millions of dollars in 2020 CARES Act assistance to farmers across the state.

Restaurants Get $28.6B in Relief as They Struggle to Hire, Open Doors
The launch of the Restaurant Revitalization Fund is anticipated to help 100,000 restaurants, bars, food trucks, caterers, and other hard-hit businesses in the food service industry. However, the industry is having difficulty filling jobs. Some employers have claimed they can't find workers because of extended unemployment benefits, while many former restaurant workers have moved to other industries, are strapped with family caregiving responsibilities, or have left the workforce entirely.

What Does the Housing Market Boom Mean for Local and State Governments?
Recent data from shows that between April 2020 and April 2021, the median home price increased by an average of 17.2%. This frenzy has led more and more buyers and sellers to question whether this growth is sustainable for the near future. However, this rapid uptick in the housing market comes as a positive trend for local and state governments struggling with some of their revenue streams impaired by COVID-19.

USDA Invests $92M in Grants for Local, Regional Food Producers Affected by the Pandemic
The USDA announced $92.2 million in competitive grant funding under the 2018 Farm Bill's Local Agriculture Market Program (LAMP). The LAMP grants are funded through the Farmers Market program as part of USDA's Pandemic Assistance for Producers Initiative. These grants support the development, coordination, and expansion of direct producer-to-consumer marketing, local and regional food markets and enterprises, and value-added agricultural products.

Upcoming Events
CDFA Virtual Summer School

Friday, May 21, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA Federal Financing Webinar Series: Federal Financing for Energy and Water Systems
Tuesday, June 8, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts from the EPA and DOE will highlight best practices, case studies, and mitigation tools that will help your community finance critical projects.

State & Local Programs

Chautauqua County, NY Industrial Development Agency Distributes $10M in CARES Act Loans
WRFA | Apr. 28 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

Federal Financing Programs

Agency Seal Federal Communications Commission (FCC)

Connected Care Pilot Program
The Connected Care Pilot Program will provide up to $100 million from the Universal Service Fund (USF) over a three-year period to selected applicants to support the provision of connected care...

Agency Seal U.S. Dept. of Treasury

Commercial Paper Funding Facility
The Facility serves as a funding backstop for commercial paper issuers to support the flow of credit to households and businesses.

Agency Seal U.S. Small Business Administration (SBA)

Community Advantage (CA) Pilot Program
The Community Advantage (CA) Pilot Program is a pilot program to increase SBA-guaranteed loans to small businesses in underserved areas.

Highlights from the Online Resource Database

American Rescue Plan Act - Local Relief Frequently Asked Questions
Community Development | Disaster Recovery & Relief | Economic Development | Local Finance Program | Resiliency | Rural Development | Urban Development | Access to Capital
After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the Coronavirus Local Fiscal Recovery Fund grants, and has provided answers based on available information to help cities prepare while Treasury develops official guidance.

Repositioning Economic Development Incentives Post-Pandemic
Disaster Recovery & Relief | Economic Development | Incentives
The Center for Regional Economic Competitiveness and Smart Incentives have produced a series of reports for the State Economic Development Executives network over the past year providing guidance on critical issues and trade-offs to help state leaders make sound decisions on incentive policies. The report on "Repositioning Economic Development Incentives Post-Pandemic" provides guidance that draws on lessons learned from past recessions, the authors' work on incentive best practices, recent research examining incentive effectiveness, and responses to economic priorities that have come to the forefront over the last year.

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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