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CDFA Legislative and Federal Affairs Update - September 5, 2023

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Legislative and Federal Affairs Update
September 5, 2023
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Legislative and Federal Affairs Update

Legislative Features

Join CDFA for Our Upcoming Intro Tax Credit Finance Course
Register for CDFA's Intro Tax Credit Finance Course taking place on September 27-28 to learn the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs including new markets, low-income housing, historic preservation, and state-specific programs.

Washington Receives $23M from U.S. DOE for Grid Resilience
Washington announced $23.4 million in grant funding to improve the resilience of its power grid against wildfires, extreme weather, and other natural disasters exacerbated by the climate crisis. The funding was awarded to the Washington State Department of Commerce by the U.S. Department of Energy's (DOE) Grid Deployment Office and was authorized by the IIJA.

$266M to Agricultural Producers, Rural Small Businesses for Energy-Related Improvements
The U.S. Department of Agriculture (USDA) announced that it is awarding $266 million in loans and grants to agriculture producers and rural small businesses to make investments in renewable energy and energy efficiency improvements that will lower their energy costs, generate new income, and strengthen the resilience of their operation. This funding is made possible in part by the Inflation Reduction Act.

FEMA Awards $2.4B in Infrastructure Resilience Grants
The Federal Emergency Management Agency (FEMA) has picked 273 projects to share $2.4 billion in grants under programs focused on increasing protection for communities, infrastructure, and coastal areas against storms, earthquakes, and other natural disasters. The project selections come from two resilience-related programs: Building Resilient Infrastructure and Communities (BRIC) and Flood Mitigation Assistance, which received a 300% boost in funding under the Bipartisan Infrastructure Law,

Arizona to Receive Over $6.7M for Rural Broadband Under Bipartisan Infrastructure Law
Over $6.7 million will be invested to deliver affordable, accessible high-speed internet to Arizona families, businesses, and schools in Mohave County from the bipartisan infrastructure law. The investment was awarded through the U.S. Department of Agriculture's Reconnect Loan and Grant Program to the most difficult high-speed internet projects in the nation, which connect the most rural, remote, and underserved communities.

New York Receives $185M Federal Grant and Approves $189M Bond for Water Infrastructure
New York announced over $185 million in direct financial assistance for water infrastructure improvement projects across the state. The announcement authorizes municipal access to over $94.7 million in low-cost short-term financing and previously announced grants. The state also took action to help ensure continued, long-term affordability of existing projects, which includes a $189 million bond sale that will save municipalities an estimated $125 million in debt service payments for 25 projects statewide.

USDA Invests $150M for Emerging Climate Market Connections
The U.S. Department of Agriculture's (USDA) Forest Service is making $150 million from the Inflation Reduction Act, the largest climate investment in history, available to help underserved and small acreage forest landowners connect to emerging voluntary climate markets. These markets can provide economic opportunities for landowners and incentivize improved forest health and management. 

Missouri Receives $14M from U.S. Department of Energy for Grid Resilience
The U.S. Department of Energy (DOE) awarded Missouri almost $14 million to strengthen and modernize the state's electrical infrastructure. The funds come from the DOE's Grid Resilience State and Tribal Formula Grant program and will be used by the Missouri Department of Natural Resources to give communities better access to affordable, reliable, and resilient electricity services.

USDA Announces Another $667M for Rural Broadband Loans and Grants
The U.S. Department of Agriculture (USDA) will spend another $667 million on rural broadband loans and grants, marking the fourth round of funding under a program that the Infrastructure Investment and Jobs Act (IIJA) invigorated. Nearly three-quarters of the funding, $493 million, will go toward grants. The latest round of funding awards will go to 38 projects in 22 states and the Marshall Islands.

Alaska to Receive $45M Under IIJA to Culvert Restoration Projects
A U.S. Department of Transportation program is set to fund nearly $45 million in project support across multiple Alaska communities as they look to strengthen fish habitats. Along with Alaska, the Biden Administration announced that money from the National Culvert Removal, Replacement, and Restoration Grant Program, through the Culvert Aquatic Organism Passage Program, will go to various regions across the country, primarily to Pacific communities, but also the East Coast.

Montana Receives $26M under Bipartisan Infrastructure Law for Infrastructure Projects
Montana will receive more than $26 million in funding for infrastructure projects in rural communities across Montana. The funding will come from the U.S. Department of Transportation's Surface Transportation Block Grant (STBG) program. Funding was made possible by the Infrastructure Investment and Jobs Act (Bipartisan Infrastructure Law).

White House Releases Fact Sheet to Mark Inflation Reduction Act's First Anniversary
The White House released a fact sheet to mark the first anniversary of the Inflation Reduction Act (IRA). Since its passage, the IRA has created more than 170,000 clean energy jobs, and companies have announced over $110 billion in clean energy manufacturing investments. The Biden administration also released a new feature that highlights stories of how the IRA is making a difference for Americans in all 50 states and U.S. territories.

Nevada Tribes Receive $826K EPA Grants for Water Quality, Climate Change Mitigation
U.S. Senators Catherine Cortez Masto (D-Nev.) and Jacky Rosen (D-Nev.) announced $825,549 in grant funding to help four Tribes in Nevada protect the environment and combat climate change. This funding from the U.S. Environmental Protection Agency (EPA) will support environmental programs on Tribal land, including efforts to implement climate change response plans, reduce emissions, and improve the water quality of local rivers, lakes, and streams.

EPA to Provide $4.5M for Water Infrastructure in Region 6 States
The U.S. Environmental Protection Agency (EPA) announced the availability of approximately $50 million in grants through the Sewer Overflow and Stormwater Reuse Municipal Grant Program. Approximately $4.5 million of that funding will be available for the Region 6 states of Arkansas, Louisiana, New Mexico, Oklahoma, and Texas to help communities address stormwater and sewer infrastructure needs. Small and financially distressed communities will receive grant assistance at no cost.

Louisiana to Receive $603M for Infrastructure Projects Under Bipartisan Infrastructure Law
Louisiana will receive up to $603 million from the Department of Energy to plan and construct Direct Air Capture (DAC) Hubs in the state, making it the largest single award from the Infrastructure Investment and Jobs Act in the entire country. Project Cypress, to be located in southwest Louisiana, is receiving an initial $50 million to begin development of a regional DAC hub. 

$50M for Water Infrastructure in Small, Financially Distressed Communities
The U.S. Environmental Protection Agency (EPA) announced the availability of nearly $50 million in regular funding through the Sewer Overflow and Stormwater Reuse Municipal Grant program to help communities address stormwater and sewer infrastructure needs. States may now apply for grant assistance to fund projects that will help municipalities strengthen their stormwater collection systems against increasingly intense rain events made worse by the climate crisis.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Best Practices and Strategies for Housing Finance
September 19, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Webcast Series, development finance practitioners will highlight the variety of finance tools available for supporting affordable housing projects and discuss best practices for deploying these to meet the growing need.

2023 Equitable Lending Learning Series: Identifying Your Target Market
September 26, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will talk about how lenders can reach underserved borrowers, discuss technical strategies and best practices for data collection and learning about borrower needs in a specific community, and illustrate how this information can be used to increase access to capital among underserved small business owners.

Federal Features

Harvey, IL to Receive $3.5M from EPA for Water Infrastructure
The city of Harvey will receive $3.5 million from the U.S. Environmental Protection Agency (EPA) for its Central Area Water and Sewer Improvement Project. The money was secured through a congressionally directed spending request and will be used to implement "long-overdue water infrastructure upgrades to help address chronic flooding and reduce resource costs for breaks and leaks repairs."

Dept. of Commerce Invests $2.5M for Water Infrastructure and Manufacturing in Alabama
The U.S. Economic Development Administration (EDA) is awarding a $2.5 million grant to North Baldwin Utilities in Bay Minette, Alabama, for water infrastructure upgrades to support a new aluminum manufacturing facility and create jobs in the region. This investment will support construction of an elevated water tank at a local business park and will be matched with $3.9 million in local funds. It is expected to create 1,000 jobs and generate $2.4 billion in private investment.

USDA to Invest $800M in Rural Infrastructure Projects
The U.S. Department of Agriculture (USDA) is investing $808 million to help rural cooperatives and utilities build and improve electric infrastructure and increase electric grid reliability and security, connecting hundreds of thousands of people in rural areas. This funding will also help provide clean drinking water and sanitary wastewater systems in rural areas for years to come.

USDA Invests $7M to Strengthen Siouxland Infrastructure
Several Siouxland businesses and communities have obtained funds from the U.S. Department of Agriculture (USDA) to strengthen rural infrastructure. North West Rural Electric Cooperative received a $300,000 grant to help fund a facility expansion of the Promise Community Health Center in Sioux Center. The Clay-Union Electric Corporation obtained a loan of more than $5 million to build a headquarters facility. Neligh, Nebraska received a nearly $2.5 million loan to build three miles of water main throughout the city.

Oswego, NY's Port to Receive $4M from EDA to Boost Rail Infrastructure
The Port of Oswego in New York will receive a $4 million federal grant to fund an expansion of operations, purchase new cargo-handling equipment, and boost rail infrastructure. Issued through the U.S. Economic Development Administration (EDA), the grant will help pay for the procurement of a telescopic ship loader conveyer and upgrades to the railroad track, which will help increase the port's capacity to access domestic and international markets.

Plymouth, MA to Receive $2M for Water Infrastructure
The U.S. Department of Transportation's (DOT) Federal Highway Administration announced that it will award $2 million in federal funding to the Town of Plymouth to upgrade three outdated culverts, including two channels from the Billington Sea to Plymouth Harbor, to promote climate-resilient infrastructure, protect wildlife, prevent flooding, and improve vehicle and pedestrian access across Plymouth.

DOT Approves $501M TIFIA Loan for Interstate Expansion in Colorado
The U.S. Department of Transportation (DOT) announced that its Build America Bureau has provided a $501 million low-interest Transportation Infrastructure Finance and Innovation Act loan to the Colorado Transportation Investment Office on behalf of the Colorado Department of Transportation to improve a 61-mile corridor of I-25, including adding 52 miles of express toll lanes between Denver and Fort Collins, Colorado.

HUD Invests $21M for Native Hawaiian Housing
The U.S. Department of Housing and Urban Development (HUD) announced $21.3 million in Native Hawaiian Housing Block Grant (NHHBG) funding to support the Department of Hawaiian Home Lands (DHHL). This funding will support the housing needs of low-income Native Hawaiian families. The funding may be used for the construction, rehabilitation, and acquisition of housing; infrastructure; and various support services, including rental assistance to Native Hawaiians.

FTA Announces $13.4M for Transit-Oriented Development
The Federal Transit Administration (FTA) announced the availability of $13.4 million in competitive grants for the Fiscal Year 2023 Pilot Program for Transit-Oriented Development (TOD) Planning Program. The Pilot Program for TOD Planning helps support FTA's mission of improving America's communities through public transportation by providing funding to local communities to integrate land use and transportation planning with a new fixed guideway or core capacity transit capital investment. 

DOE Announces $46M to Boost Energy Efficiency in Residential, Commercial Buildings
The U.S. Department of Energy (DOE) announced $46 million for 29 projects across 15 states to develop advanced building technologies and retrofit practices that enable healthier households and communities and reduce energy waste. The Buildings Energy Efficiency Frontiers and Innovation Technologies (BENEFIT) funding opportunity will help advance cost-effective solutions to successfully electrify buildings across the nation while also improving their energy efficiency.

HUD Awards $50M Choice Neighborhoods Implementation Grant to Philadelphia, PA
The U.S. Department of Housing and Urban Development (HUD) announced the awarding of a Choice Neighborhoods Implementation grant for $50 million to the Philadelphia Housing Authority and the City of Philadelphia to redevelop Bartram Village.

Federal Financing Clearinghouse Spotlight

CDFA's Federal Financing Clearinghouse is the only online resource cataloging the development finance programs offered by the federal government. Check out our featured agencies and programs below. >>> Learn More

Agency Seal U.S. Dept. of Transportation (DOT)

Recreational Trails Program (RTP)
The Recreational Trails Program (RTP) provides funds to the States to develop and maintain recreational trails and trail-related facilities for both nonmotorized and motorized recreational trail uses.

Agency Seal U.S. Dept. of Treasury

State Small Business Credit Initiative (SSBCI)
Under the U.S. Treasury's State Small Business Credit Initiative (SSBCI), established in 2010, participating states will use $1.5 billion in federal funds for programs that leverage private lending...

Agency Seal U.S. Environmental Protection Agency (EPA)

Brownfields Cleanup Grants
Cleanup Grants provide funding to carry out cleanup activities at brownfield sites owned by the applicant.

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

7(a) Loan Program
The 7(a) loan program is the SBA's primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type...

Legislative and Federal Headlines

Elgin, ND Receives $584K for Water Distribution and Wastewater Disposal
Office of Senator Cramer | Aug. 31 | Federal | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance | Water Finance

USDA Invests $16.4M for Infrastructure in Rural Iowa
Business Record | Aug. 31 | Federal | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

Kansas to Receive $1.7M for Energy Efficiency and Renewable Energy
Morning Ag Clips | Aug. 30 | Energy Finance | Federal | Infrastructure Finance | Rural Development

California Invests $3B in Projects to Rebuild Transportation Infrastructure
Times-Herald | Aug. 23 | Energy Finance | Federal | Infrastructure Finance

$72.9M in Funding Awarded to Support U.S. Specialty Crop Producers
USDA | Aug. 23 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)

Maine Receives $11M in Rural Economic Development Grants
Spectrum News | Aug. 23 | Community Development | Energy Finance | Federal | Infrastructure Finance | Redevelopment | Rural Development

Rural Action to Open Regional Food Business Center With $40M Investment
The Herald-Dispatch | Aug. 18 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Microloans Available Through $55.5M Small Business Revolving Loan Fund 2
RCBJ | Aug. 17 | Access to Capital | Economic Development | Federal | Revolving Loan Funds (RLFs)

U.S. Climate Law Introduces Billion-Dollar ​‘Game-Changer' for Nonprofits
Canary Media | Aug. 15 | Energy Finance | Federal | Green Finance | Tax Credits

Officials in Rural and Tribal New Mexico Communities Unaware of Federal Water Aid
Source NM | Aug. 14 | Federal | Rural Development | Tribal Finance | Water Finance

Mississippi's Education Facilities Loan Fund Invests Millions in School Infrastructure
Yahoo!Finance | Aug. 14 | Education | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs)

USDA to Provide Additional Financial Assistance to Qualifying Farm Loan Borrowers
USDA | Aug. 11 | Access to Capital | Agriculture Finance | Federal | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

Nevada Lawmakers Greenlight $360M in Federal Funding for Broadband Build-Out
nvleg | Aug. 10 | Federal | Infrastructure Finance | Rural Development

$25M in USDA-Guaranteed Financing for Dairy Digesters to Produce Renewable Natural Gas
Cision PR Newswire | Aug. 9 | Agriculture Finance | Energy Finance | Federal | Rural Development

Repowering Rural America with Clean Energy
EESI | Aug. 7 | Energy Finance | Federal | Rural Development

Minority Business Development Agency Announces SSBCI Capital Readiness Program Awards
Minority Business Development Agency | Aug. 4 | Access to Capital | Disaster Recovery & Relief | Legislative | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | State Small Business Credit Initiative (SSBCI)

Arkansas to Receive $5.6M from the USDA Regional Food Systems Initiative
The Daily Citizen | Aug. 2 | Access to Capital | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

New Additions to the Online Resource Database

CDFA Greenhouse Gas Reduction Fund Community Lender Network - Completing an Intent to Apply
Legislative | Webcasts
CDFA hosted an information briefing to discuss the Greenhouse Gas Reduction Fund's Clean Communities Investment Accelerator Competition. Speakers discussed eligibility under the competition and how to complete an intent to apply form.

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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