EPA Announces $2.7B for Water Infrastructure State RLFs
The U.S. Environmental Protection Agency announced the availability of $2.7 billion for State Revolving Funds. EPA provides funding to all 50 states and Puerto Rico to capitalize SRF loan programs. The states and Puerto Rico contribute an additional 20 percent to match the federal grants. The 51 SRF programs function like infrastructure banks by providing low-interest loans to eligible recipients.
3CORE Receives $1.8M Loan Fund from U.S. Commerce Department
The U.S. Department of Commerce's Economic Development Administration has provided $1.8 million in financing to local nonprofit 3CORE, Inc. to boost businesses in areas hit hard by recent disasters. The capital will be available to small businesses in Butte, Glenn and Tehama counties affected by the Camp Fire in 2018 as well as the severe winter storms, flooding, landslides and mudslides in spring of 2019.
$1.8M Awarded to Disaster-Impacted Butte, Glenn, and Tehama Counties
The Commerce Department's Economic Development Administration awarded $1.8 million to 3CORE, Inc. of Chico to establish a Revolving Loan Fund to generate jobs and spur $6 million in private investment to wildfire-impacted Butte, Glenn, and Tehama counties.
FY2020 Supplemental Funding for Brownfields Revolving Loan Fund (RLF) Grantees
The Environmental Protection Agency (EPA) plans to make available approximately $5 million to provide supplemental funds to Revolving Loan Fund (RLF) cooperative agreements previously awarded competitively under section 104(k)(3) of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).
MN Expected to Approve $50M in Loan Assistance for Farmers
The Minnesota House passed legislation this past week appropriating $50 million bond funds for the Rural Finance Authority (RFA), a state entity that offers low-interest loan programs to farmers. This comes due to existing funds being nearly depleted and there is an urgent need to replenish the account to guarantee more loan availability.
CDFI Fund, CDRLF Allow CUs to Reach Underserved Communities
The Treasury's CDFI Fund and NCUA's CDRLF are two important funds that help credit unions advance underserved communities, CUNA wrote to the House Appropriations subcommittee on financial services and general government (FSGG) Tuesday. The administration's budget request does not include any new funds for the CDFI Fund or the CDRLF.
AHC Inc. Repayments to Arlington's Housing Loan Fund Top $45M
AHC Inc., an Arlington, VA-based affordable housing developer, deposited more than $710,000 this week into the County's revolving low-interest loan program, the Affordable Housing Investment Fund (AHIF). This year's annual repayment boosts AHC's total repayments to more than $45 million since the AHIF program began in 1988.
EPA Awards $96M to MI for Surface and Drinking Water
The U.S. Environmental Protection Agency (EPA) announced the availability of $2.7 billion for State Revolving Funds, including $96,048,000 for the state of Michigan. This funding assists states, tribes, and territories with infrastructure projects that help protect surface water and provide safe drinking water to communities across the country.