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CDFA Revolving Loan Fund Finance Update - August 13, 2019

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Revolving Loan Funds Update
August 13, 2019
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Revolving Loan Fund Finance Update

Features

House Bill Would Create $100M Disaster-Aid Revolving Loan Fund
Federal lawmakers from the Midwest, still reeling from long-lasting river flooding, have rolled out a bill to establish a $100-million low-interest federal revolving loan fund for resilience projects. When the loans are repaid, that money would replenish the loan fund and become available for future disaster relief.

Restaurant In NY Used RLF to Open
DeJoy thanked those involved in renovating the restaurant. He thanked the Chautauqua County Industrial Development Agency for its support. DeJoy received a $55,000 Chautauqua Revolving Loan Fund from the IDA as part of the financing to open the restaurant.

Equitable Facilities Fund Launches $120M RLF for Charter Schools
The Equitable Facilities Fund is launching the Equitable School Revolving Fund to support charter schools. The fund received a $200 million grant from the Walton Family Foundation to start making loans and plans to issue about $110 million bonds through the Arizona Industrial Development Authority and the California Infrastructure and Economic Development Bank.

Seattle, WA to Sell Land for $143.5M and Invest in Housing
Seattle will sell 2.86 acres of city-owned land, the "Mercer MegaBlock, for $143.5 million to Alexandria Real Estate Equities, Inc., the property to become a life sciences campus incorporating low and moderate income housing plus a community center. A portion of the proceeds, $15 million, will set up a revolving loan fund under the city's Equitable Development Initiative.

MA SRF Supports $12M Water Filtration Project in Hyannis
The Hyannis Water System has begun work on a new $12 million water filtration building at the Maher Water Treatment Plant off Old Yarmouth Road. The project is being financed through the Massachusetts Department of Environmental Protection's State Revolving Fund Drinking Water Program.

Maine Water Seeks $5M Bond for New Biddeford Water Plant
Maine Water Company has asked the Maine Public Utilities Commission for approval to create a $5 million bond to assist in financing a new 35,000-square-foot Saco River Water Treatment Facility. The Maine Municipal Bond Bank would loan the company money from the federal Drinking Water State Revolving Loan Fund Program.

Thibodaux, LA to Issue Bonds for Water Treatment Plant
The Thibodaux City Council is preparing to take the final steps to sell bonds to complete the north Thibodaux wastewater treatment plant. To complete the project the city will have to sell $6.5 million in bonds. The bonds will be issued through the Louisiana Department of Environmental Quality's revolving loan fund.

Orofino, ID Uses RLF for City Water Improvements
With a $9.7 million loan from Idaho's Drinking Water State Revolving Loan fund, Orofino recently made significant changes to its system when it; constructed a new water treatment plant, constructed a new water intake in the Clearwater River, installed upgraded reservoir and transmission lines.

Upcoming Events
CDFA National Development Finance Summit

CDFA Federal Financing Webinar Series: Opportunity Zones and Transportation Infrastructure featuring DOT and EDA
August 22, 2019 - 2:00 PM Eastern
In this webinar, CDFA will convene financing experts from the Department of Transportation and Economic Development Administration to discuss how their respective financing and grant programs can incentivize Opportunity Fund investments into Opportunity Zones. CDFA will center the discussion around programs offered through DOT's Build America Bureau and Federal Highway Administion, as well as funding programs offered by the EDA.

CDFA // BNY Mellon Development Finance Webcast Series: Conduit Bond Fees - A Look Behind the Numbers
Tuesday, August 20, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will look beyond the fee structures and break down the philosophies behind them, with the goal of sharing innovative thinking throughout the bond industry and provide a qualitative look behind CDFA's Conduit Bond Fee Study.

Headlines

Frontenac, MS Approves Seeking Funds for Water Project
Morning Sun | Aug. 13 | Revolving Loan Funds (RLFs) | Water Finance

Representative Brings Focus to Infrastructure with RLF
SW News Media | Aug. 12 | Legislative | Revolving Loan Funds (RLFs)

Expansion of RLF and E-Community Resources in KS
Fort Scott Biz | Aug. 12 | Revolving Loan Funds (RLFs)

EPA Helps Puerto Rico with Funds for Water and Sewer Repairs
EPA | Aug. 12 | Revolving Loan Funds (RLFs) | Water Finance

Avon Lake, OH Utilizes RLF to Help Build Water Tower
Morning Journal | Aug. 11 | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Little Hope Remains for WI Officials Looking to Recover Funds from Failed Aircraft Deal
Wisconsin Public Radio | Aug. 9 | Community Development | Revolving Loan Funds (RLFs) | Tax Credits

AR Communities Receive Loans for Water, Sewer Projects
Magnolia Reporter | Aug. 9 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Oak Ridge, TN Borrowing for New Water Plant
The Daily Herald | Aug. 9 | Bond Finance | Revolving Loan Funds (RLFs) | Water Finance

Aitkin, MN Approved for $1.9M Water Infrastructure Loan
Brainerd Dispatch | Aug. 8 | Access to Capital | Community Development | Revolving Loan Funds (RLFs) | Water Finance

Winona County, MN Unlikely to Recover RLF
Winona Post | Aug. 7 | Revolving Loan Funds (RLFs)

AK Rancher Advocates for Meat Production Plant and to Use RLF
KUAC Alaska | Aug. 5 | Access to Capital | Agriculture Finance | Community Development | Food Systems Finance | Revolving Loan Funds (RLFs)

Morgantown, NC Looks to Establish a RLF for Restaurants
The News Herald | Aug. 2 | Revolving Loan Funds (RLFs)

Red Lodge, MT Receives Loan to Finance Drinking Water System
KULR8.com | Jul. 29 | Revolving Loan Funds (RLFs) | Water Finance

Water Infrastructure Projects in ENC Receive Funding
Public Radio East | Jul. 25 | Revolving Loan Funds (RLFs) | Water Finance

Grocery Store Opens in Muskegon, MI
M Live | Jul. 19 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs)


New Additions to the Online Resource Database

Understanding RLFs - Mike O'Donnell
Revolving Loan Funds (RLFs)
Mike O'Donnell with Colorado Lending Source presents on Understanding RLFs.

CDFA EDA Revolving Loan Fund Webinar Series: Building Partnerships to Maximize Your RLF Impact
Access to Capital | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | Webcasts
The varying size of Revolving Loan Funds leaves many organizations without the financial and staff capacity to effectively support all aspects of a lending program and building partnerships can enhance its effectiveness and impact. Key partnerships could include providing technical assistance for borrowers, outsourcing the servicing of the portfolio, or even in some cases, partnering with another organization that can assume the management of the entire RLF program. Listen as Robyn Jacobson, Robin Weis, and Andy Rachlin discuss the various partnerships your organization can structure in order to maximize your RLF's impact.

Village of Rantoul, IL EDA RLF Plan
Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA)
This RLF plan, produced by the Village of Rantoul, Illinois, was adopted in 2017.


The Council of Development Finance Agencies (CDFA) 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 www.CDFA.net or email info@cdfa.net


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


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