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CDFA COVID-19 Recovery & Relief Update - June 8, 2021

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COVID-19 Recovery & Relief Update
June 8, 2021
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COVID-19 Recovery & Relief Update


Nation's Mayors, Cities, Counties Send Joint Letter to House and Senate Leaders Opposing Clawback Proposals to Repurpose ARP Funds
The U.S. Conference of Mayors, National League of Cities, and National Association of Counties sent a joint letter to Senate Majority Leader Schumer, Republican Leader McConnell, House Speaker Pelosi, and Republican Leader McCarthy opposing any proposal that would repurpose urgently needed coronavirus relief funds for other activities. A copy was also sent to all members of Congress.

Treasury Will Allow States to Take ARP Funds and Cut Taxes, With Some Guardrails
The U.S. Treasury Department released guidance for the American Recovery Plan's (ARP) $350 billion in direct state and local aid, including details on how it will implement the law's restriction on using ARP funds for state tax cuts.

SBA Rolls Out $100M Grant Program to Help Small Businesses Recover from COVID Fallout
The 'Community Navigator Pilot' Program will offer grants of $1 million to $5 million to eligible organizations to provide counseling, networking and to serve as an informal connection to agency resources to help rural and urban small businesses recover from the economic devastation wrought by the COVID-19 pandemic.

Prepare for Financing Infrastructure by Attending CDFA's Public-Private Partnership (P3) Course
Interest in Public-Private Partnership (P3) financing is growing as state and local governments face tough budget decisions along with declining federal investment in infrastructure. During the Intro P3 Finance Course, industry experts will discuss the common characteristics and drivers of P3 financing's throughout the country and explain the various structures of these deals.

Reps. Phillips, Walorski Introduce Bipartisan Bill to Spur Innovation, Protect Vulnerable Startups
Reps. Dean Phillips (D-MN) and Jackie Walorski (R-IN) introduced the IGNITE American Innovation Act, a bipartisan bill to provide relief for startup businesses that were ineligible for other types of aid passed by Congress in response to the COVID-19 pandemic. The bill will allow small and mid-size businesses left out of the CARES Act to access fast and efficient capital so that they can continue to accelerate our nation's recovery.

SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
U.S. Small Business Administrator Isabella Casillas Guzman issued the following statement on the closure of the Paycheck Protection Program (PPP) to new loan guaranty applications, which has provided over $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees employed and helping businesses come back stronger than ever.

White House Releases Fact Sheet Detailing Housing Provisions in the American Jobs Plan
The Biden-Harris Administration is proposing a bold investment in America's housing infrastructure to make housing more affordable for working and middle-class families. The American Jobs Plan pairs $213 billion in direct funding with more than $100 billion in new and expanded tax credits with bipartisan support to build and modernize housing across the country.

Upcoming Events
Intro Revolving Loan Fund WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Rural Broadband & Telehealth Financing
Tuesday, June 15, 2021 - 2:00 PM - 3:00 PM Eastern
During this webinar, experts will explain how rural communities can embrace the challenges of financing high-speed internet for the economic and societal gains provided by broadband.

CDFA Food Systems Finance Webinar Series: Financing Food Systems Through FinTech
Tuesday, July 13, 2021 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we will explore how tech innovations are increasing access to financing for food-related businesses and projects, and how finance is supporting the integration of new technology in local food systems.

Federal Financing Programs

Agency Seal Federal Communications Commission (FCC)

COVID-19 Telehealth Program
The COVID-19 Telehealth Program will provide $200 million in funding to help health care providers provide connected care services to patients at their homes or mobile locations.

Agency Seal U.S. Dept. of Agriculture (USDA)

Distance Learning & Telemedicine Grants
The Distance Learning and Telemedicine program helps rural communities use the unique capabilities of telecommunications to connect to each other and to the world, overcoming the effects of...

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

Economic Injury Disaster Loan (EIDL)
These loans of up to $2 million help meet financial obligations and operating expenses. Loan advances up to $10,000 are also offered.

COVID-19 Headlines

USDA to Invest $1B to Purchase Healthy Food & Build Food Bank Capacity
USDA | Jun. 4 | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19

Texas Revenues Soar as Pandemic Eases, Comptroller Says
The Bond Buyer | Jun. 3 | Bond Finance | Disaster Recovery & Relief | Economic Development | COVID-19

Colorado Senate Passes Five Stimulus Bills
Fox Denver | Jun. 3 | Agriculture Finance | Disaster Recovery & Relief | Education | Food Systems Finance | Healthcare | Revolving Loan Funds (RLFs) | COVID-19

Greater Seattle Partners Unveils Plan for More Equitable Economic Growth Post-COVID
Puget Sound Business Journal | Jun. 2 | Access to Capital | Disaster Recovery & Relief | Economic Development | Social Finance | COVID-19

The Impact of COVID-19 on Ag Lending
ABA Banking Journal | Jun. 2 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA) | COVID-19

Restaurant Revitalization Fund is Designed to Be More Equitable Than PPP
WDET | Jun. 1 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | Social Finance | COVID-19

The SBA's $28.6B Restaurant Revitalization Fund Needs More Money
Cleveland.com | May. 27 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Small Business Administration (SBA) | COVID-19

What's Next for the Restaurant Revitalization Fund?
QSR Magazine | May. 27 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Small Business Administration (SBA) | COVID-19

Do State and Local Governments Need to Worry About Inflation?
Governing | May. 25 | Community Development | Disaster Recovery & Relief | Economic Development | Federal | COVID-19

Modesto, CA Has $23M to Address Effects of Pandemic. Who Will Be Helped in the City Plan?
The Modesto Bee | May. 25 | Access to Capital | Disaster Recovery & Relief | Infrastructure Finance | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

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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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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