The First CDFA Charter Schools Financing Initiative Paper Is Here! Development Finance Strategies for Charter Schools
CDFA has released the first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and provides real-world examples of how these tools resources have been successfully implemented across the nation.
EIG Releases Report on Advancing Education and Child Development in Opportunity Zones
The Economic Innovation Group (EIG), with support from the Chan Zuckerberg Initiative, has released a report that explores the environmental conditions faced by children growing up in some of the nation's most distressed communities. The report examines the needs of children in Opportunity Zones and how the bipartisan community investment tool can be leveraged to support schools, childcare centers, and businesses focused on improving life outcomes for children.
Opportunity Zone Rule Change Seeks to Entice Foreign Investors
The Internal Revenue Service is considering new rules pertaining to foreign investors' ability to defer capital gains in the Opportunity Zones program. The new regulations could be released in December, according to the White House Office of Management and Budget. The extent of the changes is unclear, but experts predict they will be geared toward giving foreign investors more clarity on their tax liabilities.
NJEDA Launches Consulting Program for Businesses Hurt By COVID
The New Jersey Economic Development Authority has launched a free consulting program to help small businesses that have been impacted by the COVID-19 crisis. The Business Consulting for COVID-19 Recovery Program, which is still in a pilot phase, is open to all businesses with five or fewer employees that maintain a physical storefront or office in one of New Jersey's 169 Opportunity Zones.
Tennessee Gov. Lee Announces $50M in New Business Relief Funding
Tennessee Governor Bill Lee and the Financial Stimulus Accountability Group (FSAG) today announced an initial $50 million in federal Coronavirus Relief Funds for the new Supplemental Employer Recovery Grant (SERG) program to provide additional relief to small businesses suffering during the COVID-19 pandemic. This new wave of funding includes specific support for minority-owned, women-owned and veteran-owned businesses, as well as businesses owned by disabled persons.
DOT Awards $220M for Port Infrastructure
The U.S. Department of Transportation awarded $220 million in grants to improve port infrastructure, including facilities used by freight vehicles. Transportation Secretary Elaine Chao announced the funding, through the Maritime Administration's Port Infrastructure Development Program, on Oct. 15.
Opportunity Zones Haven't Yet Seized Their Chance to Transform Cleveland and Other Cities
An excellent analysis in Politico Magazine asserts that Cleveland "is a good place to get past the hype and drill down on the limitations" of the federal Opportunity Zones program, which was envisioned as an anti-poverty program but has wound up helping middle-income neighborhoods more than poor ones.
Inclusive Recovery Requires Reimagining Local Economic Development
The way Americans work and live is facing a once-in-a-lifetime challenge in the form of simultaneous crises of public health, the economy, climate change, and racial justice. If we stand any chance of responding to these challenges in a fair, inclusive, and effective way, we need a renewal of creative federalism.
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