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CDFA Revolving Loan Fund Finance Update - October 8, 2019

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Revolving Loan Funds Update
October 8, 2019
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Revolving Loan Fund Finance Update

Features

Sioux City, IA Receives $6.5M Water Quality Loan
Sioux City has received a $6.5 million low-interest water quality loan from the Iowa Finance Authority and the Iowa Department of Natural Resources. The funds through the State Revolving Fund will be used for a three-phase water main construction project in Sioux City. The project will help to improve water pressure.

Maurice, LA Receives $2.7M RLF for Water Improvements
The Village of Maurice recently received a loan from the state's Drinking Water Revolving Loan Fund for $2,762,000. Water system improvements are just part of Maurice's investment of $12 million into utility services. The village is investing in utilities to meet the demand of growth that's occurring in the area.

SD Approves Water Reclamation Facility Expansion
Governor Kristi Noem says the state Board of Water and Natural Resources has approved a $41,625,000 loan from the Clean Water State Revolving Fund Program for Sioux Falls to expand its water reclamation facility. The loan will be administered through the Department of Environment and Natural Resources.

Big Improvements for Mall in Alexandria, MN
The Alexandria City Council agreed to Viking Plaza Realty Group's request to tap into the city's Revolving Loan Fund for $200,000. This will help pay for a $2.6 million remodeling project for new tenant space in the old Herberger's area of the mall, as well as parking lot improvements and other site work.

SEDA Plans for Broadband RLF
Scott Kramer, of SEDA-COG, spoke about the Rural Broadband Revolving RLF Pilot project. The plan looks to bring internet service to people in rural areas of Mifflin, Juniata and Perry counties. SEDA-COG, along with local legislation, has reportedly secured $300,000 to implement the RLF Pilot project in the region.

Indianapolis, IN Receives RLF for Brownfield
 The city and Renew Indianapolis have been awarded a $345,000 Revolving Loan Fund subgrant through the Indiana Finance Authority to address contamination concerns within the historic property. The site was used by the Colonial Baking Co. for warehouse storage, truck loading, and truck repair from the mid-1950s until 2007.

MA Governor Proposes $8.4M to Test Well Water for PFAS
The Massachusetts Department of Environmental Protection could get $8.4 million to step up well water testing in search of PFAS contamination from firefighting chemicals at Barnes Air National Guard Base, as well as other industrial and airport sources around the Commonwealth.

EPA Approves West Virginia Plan to Improve Water Quality
The U.S. EPA announced it has approved and helped fund a $55 million plan by West Virginia to implement key water infrastructure projects, including new and upgraded wastewater treatment plants to better serve residents, increase efficiency and reduce pollution.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Analysis of the 2018 CDFA Volume Cap Report and Capital Markets Review
Tuesday, October 15, 2019 - 1:00 PM Eastern
The annual CDFA Volume Cap report is an essential outline of national private activity bond issuance trends and is used by issuers, researchers, trade groups, and political offices to understand the private activity bond landscape. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will examine the recently released Volume Cap Report in fine detail as well as discuss the fourth-quarter outlook of the capital markets.

CDFA-Bricker PACE Webinar Series: PACE Program Design
October 16, 2019 - 11:00 AM - 1:00 PM Eastern
In this webinar, industry leaders from C-PACE Alliance, the Keystone Energy Alliance, Clean Fund, and Bricker & Eckler] will share their experience in drafting PACE statutes, advocating for legislative changes to existing PACE statutes, determining and correcting market flaws or deficiencies, and increasing market volume. Capital providers will share some insights on how they arrange capital for projects, and the importance of certain market-based principles underlying the development of C-PACE as an asset class in commercial lending.

Headlines

Shueyville and Swisher, IA Count on Small Business, Start-Ups to Meet Economic Goals
The Gazette | Oct. 3 | Community Development | Revolving Loan Funds (RLFs)

No-Interest Loans Aim to Develop Agricultural Economy
Pine River Times | Oct. 3 | Agriculture Finance | Revolving Loan Funds (RLFs)

Many IA Water Quality Projects Vie for Only Small Pool of Money
The Gazette | Oct. 3 | Revolving Loan Funds (RLFs) | Water Finance

Nebraska City, NE Votes on RLF
NC News Press | Oct. 3 | Revolving Loan Funds (RLFs)

Complete Streets Design is Challenged by Historic District
Farmington Daily Times | Oct. 3 | Revolving Loan Funds (RLFs) | Water Finance

No Bonds Needed for Belgrade, MT Water Infrastructure
Belgrade News | Oct. 3 | Revolving Loan Funds (RLFs) | Water Finance

No-Interest RLFs Aim to Develop Agricultural Economy
Pine River Times | Oct. 2 | Food Systems Finance | Revolving Loan Funds (RLFs)

As Rural Groceries Fade Away, Lawmakers Wonder Whether to Act
Pew Charitable Trusts | Oct. 2 | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

Great Falls Food Hub Uses $225K from RLF to Open
Brattleboro Reformer | Sep. 26 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits

Core Home Solutions Receives RLF for HVAC Needs
Geneseo Republic | Sep. 26 | Revolving Loan Funds (RLFs)

Milwaukee, WI Prepares for Demolition of Mall
Urban Milwaukee | Sep. 23 | Brownfield Financing | Revolving Loan Funds (RLFs)

Dawes County, NE Abandoning CDBG Loan Fund
The Chadron Record | Sep. 19 | Revolving Loan Funds (RLFs) | U.S. Dept. of Housing & Urban Development (HUD)

Preserving MT Farmland: 3 Rural Community Development Tools
Nonprofit Quarterly | Sep. 18 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Brunswick County, NC Aims to Issue $260M in Bonds for Various Projects
Port City Daily | Sep. 17 | Bond Finance | Revolving Loan Funds (RLFs) | Water Finance

IL Restaurant Wants to Change Economic Model and Start RLF
The Southern | Sep. 13 | Crowdfunding | Food Systems Finance | Revolving Loan Funds (RLFs)


New Additions to the Online Resource Database

CDFA EDA Revolving Loan Fund Webinar Series: Revisiting Your Revolving Loan Fund Plan
Access to Capital | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | Webcasts
Designing the Revolving Loan Fund is one of the most critical aspects of the program process. The design process should be thorough and clearly defined to address the goals and objectives of the RLF while also clearly outlining the expectations of borrowers. It's important to have regular reviews of the RLF program to make sure it is still relevant and effective.

Innovative State-Led Efforts to Finance Agricultural Conservation
Agriculture Finance | Food Systems Finance | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | State Finance Program | Tax Credits | Water Finance
U.S. farmers are currently facing the most difficult agricultural economy since the 1980s. At the same time, many states are wrestling with the necessity of addressing environmental challenges. This report expounds upon the excellent work states are doing regarding conservation tax credits, cover crop incentives and environmental certifications to increase conservation across the landscape. The report also highlights how these programs work for agricultural producers and states.


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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CDFA National Sponsors

  • Baker Tilly
  • BNY Mellon
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  • Brownfield Superfund Advisory, Inc
  • Bryan Cave Leighton Paisner LLP
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  • Hawkins Delafield & Wood LLP
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  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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