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CDFA COVID-19 Recovery & Relief Update - November 17, 2020

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COVID-19 Recovery & Relief Update
November 17, 2020
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COVID-19 Recovery & Relief Update

Features

Here Are All The Coronavirus Relief Programs Expiring At The End Of The Year
As coronavirus cases surge across the country and new stay-at-home orders threaten further damage to an already fragile economic recovery, millions of Americans will lose crucial federal benefits if Congress can't come to an agreement on a new round of stimulus legislation.

Money to Keep Small Businesses Alive: Legislative Watch
Hundreds of thousands of small businesses have closed because of the pandemic. A surge in new cases and unresolved election results are casting shadows on their year-end prospects, but recent bills offer help. Examples of some of the strategies included in dozens of bills introduced since October 2020 are summarized here, with links to the complete text and a state-by-state map.

Main Street Lending Program Adjusted to Better Target Smaller Businesses
Faced with growing but modest uptake in program loans, the Federal Reserve recently adjusted the terms of the Main Street Lending Program to better target support to smaller businesses. Established in the wake of the CARES Act, the program is intended to help otherwise healthy small and medium-sized businesses and nonprofits weather the financial strains of the pandemic.

New Jersey Readies Coronavirus Emergency Bond Sale
New Jersey heads into the market to sell $4.3 billion of general obligation bonds on Nov. 18 to offset the revenue losses caused by the COVID-19 pandemic. The deal will test the state's low bond ratings — punctuated by another downgrade ahead of the deal — against the market's continuing demand for paper.

Municipal Bonds Faring Well Despite Election/Pandemic Uncertainty
The municipal and state bond markets were not hurt as badly as expected prior to the election and before progress was made on a COVID-19 vaccine, according to Adam Stern, senior vice president and director of municipal research at Breckinridge Capital Advisors, a Boston-based financial services firm with $42 billion in assets under management.

COVID-19 Devastated New Business Growth in Beaufort County, SC. Can Its Economy Recover?
The coronavirus isn't just forcing Beaufort County employers to furlough workers or shut down temporarily. It's also driving a decline in new business development. The number of new business licenses issued in some parts of the county dropped significantly year over year from April to September.

COVID-19 Recovery: WIFIA's Role
As part of the nation's COVID-19 response, federal policymakers should consider expanding and repurposing existing federal financing programs like U.S. EPA's WIFIA Loan Program. Even for those governments and agencies in good long-term financial shape, financing assistance may be critical to help manage the massive budget dislocations caused by this unprecedented crisis.

EDA Invests $399K in CARES Act Recovery Assistance to Boost Capital Investment in Rural Utah Opportunity Zones
The EDA is awarding a $399,804 grant to the Sorenson Impact Center at the University of Utah and the Utah Association of Counties to create a rural Opportunity Zone and Recovery Playbook that will support local efforts to drive capital investment into Utah communities. This EDA grant will serve 16 Opportunity Zones and will be matched with $150,000 in state investment to create a more equitable recovery from the coronavirus pandemic.

Upcoming Events
Intro Food Systems Finance WebCourse

CDFA-PFM Capital Markets Webinar Series: An Advanced Discussion on Ratings
November 20, 2020 - 2:00 - 3:30 PM Eastern
During this installment of the CDFA-PFM Capital Markets Webinar Series, we will gather experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.

CDFA // BNY Mellon Development Finance Webcast Series: Educational Facilities Funding Solutions
Tuesday, December 15, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore how a myriad of development finance tools are being implemented strategically to support modernization projects and the new construction of educational facilities.

Federal Financing Programs

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

Coronavirus Food Assistance Program
The Coronavirus Food Assistance Program provides direct relief to producers who faced price declines and additional marketing costs due to COVID-19.

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.


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
info@cdfa.net

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CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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