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CDFA Rural Development Finance Update - February 20, 2024

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Rural Development Finance Update
February 20, 2024
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Rural Development Finance Update

Features

Coming Up Next Month: CDFA's Intro and Advanced Bond Finance WebCourses
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

USDA Rural Development Invests $9.3M in West Virginia Communities
The U.S. Department of Agriculture (USDA) Rural Development is investing $9.3 million to improve access to clean water and reliable sewer systems in West Virginia. The town of Triadelphia has been dealing with old water and sewer utilities, specifically, the sewer collection system that currently has excessive inflow and infiltration, causing a variety of costly environmental issues. The town will look to utilize its $1.6 million grant to improve these utilities in their community.

Applications Now Open for the 2024 Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!

USDA Invests $3.3M in Clean Energy Projects to Strengthen Ohio Farms and Businesses
The U.S. Department of Agriculture (USDA) Rural Development State Director, Jonathan McCracken announced that the Department is investing more than $3.3 million in renewable energy projects to lower energy bills, generate new income, create jobs, and strengthen competition for U.S. farmers, ranchers, and agricultural producers.

The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

Kansas Communities Receiving $1.4M in Rural Economic Development Grants
Multiple projects across Kansas will receive almost $1.4 million in funding from the Historic Economic Asset Lifeline (HEAL) grant program. The program aims to help rural communities revitalize downtown buildings and create safer downtowns with more job opportunities.

Toby Rittner Featured in The Bond Buyer, Discussing Bonds & TIF to Support Casino Development in Aurora, IL
Toby Rittner, CDFA President and CEO, was interviewed by The Bond Buyer to discuss the city of Aurora's strategic use of bonds and tax increment financing (TIF) districts to support a new casino development. Within the $360 million total cost, the city's $50 million will come from a taxable bond issue, with the bonds paid back using revenues from the increment of one of Aurora's TIF districts. While sharing TIF components, Mr. Rittner also addressed the importance of trust, transparency, and inclusiveness.

USDA Invests $45M in Projects for Small Business and Public Works in Rural Iowa
The U.S. Department of Agriculture (USDA) Rural Development State Director in Iowa, Theresa Greenfield announced that the Agency is investing $1 million in multiple grants and $44 million in five loans to projects in Iowa that promote rural small businesses, provide technical assistance, and support public works infrastructure.

Multi-Million Grant Aims to Create Infrastructure, Expand Biofuel Sales in Michigan
A multi-million grant provided by the U.S. Department of Agriculture (USDA) could help boost biofuel sales in Michigan. USDA Rural Development Director for Michigan, Brandon Fewins announced the state would be receiving a $5 million grant.

Upcoming Events
Intro Bond Finance WebCourse

CDFA Food Systems Finance Webinar Series: Exploring Bonds as the Foundational Financing Tool
February 27, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, speakers will explore the potential for leveraging this foundational financing tool to cultivate resilient and thriving local and regional food systems.

CDFA // BNY Mellon Development Finance Webcast Series: The Re-emergence of Bond Banks
March 19, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will discuss the importance of bond banks, explore their roles, and focus on how they help communities move forward.

USDA Rural Development News

USDA Grants Over $800K to Gratiot County, MI Dairy Farm for Renewable Energy Upgrade
The U.S. Department of Agriculture (USDA) announced nearly $1 million in grants for renewable energy upgrades for rural agriculture producers and small businesses in Michigan, the majority of which is going to a Gratiot County farm.

USDA Announces Over $9M in Funding for New Fire Station in City of West Wendover, NV
The U.S. Department of Agriculture (USDA) Rural Development Nevada State Director, Lucas Ingvoldstad announced funding in the form of an $8.9 million loan and a $200,000 grant for a new fire station in the City of West Wendover through the Community Facilities Direct Loan and Grant Program. 

USDA Grants $1.7M for Renewable Energy Upgrades in West Michigan
Four recipients in West Michigan are receiving funds for renewable energy upgrades from the U.S. Department of Agriculture (USDA). The Rural Energy for America Program (REAP) is providing $1.7 million to West Michigan agriculture producers and rural, small businesses.

USDA Awards New Hampshire and Vermont $5.2M for Rural Energy
The U.S. Department of Agriculture (USDA) State Director for Rural Development in New Hampshire and Vermont awarded $5.2 million to farmers and small businesses through the Rural Energy for America Program (REAP). The funding is part of the Biden-Harris Administration's Investing in America Agenda, which includes $207 million recently obligated in 42 states through REAP and the Fertilizer Production and Expansion Program (FPEP). 

USDA Funding to Ease Application Process for Clean Energy Projects
The U.S. Department of Agriculture (USDA) recently announced it would hire 40 individuals as Climate Change Fellows assigned to states to help people apply for the Rural Energy for America Program (REAP), which has $2 billion in funding for clean-energy projects. States will get a dedicated person to help farmers, ranchers, and other landowners apply for federal grants to help fight pollution and climate change.


Rural Development Finance News

Ohio Announces $106M to Support Local Transit Projects
Ohio Department of Transportation | Feb. 13 | Access to Capital | Economic Development | Rural Development | Urban Development

Rural Idaho Hydropower Plants to Receive Grants From Department of Energy
Local News 8 | Feb. 6 | Community Development | Energy Finance | Rural Development

Alabama Governor Announces Major Rural Broadband Expansion Project
WAKA 8 | Feb. 5 | Community Development | Infrastructure Finance | Rural Development

New Program Aims to Help Bring New Business to Vermont
WCAX 3 | Feb. 2 | Economic Development | Rural Development | State Finance Program

Emergency Heal Grants Available to Stabilize Rural Downtown Kansas Buildings
Kansas Commerce | Feb. 1 | Community Development | Economic Development | Rural Development

Minnesota Governor and Ag Secretary Highlight REAP for Local Farmers, Rural Businesses
KIMT 3 | Feb. 1 | Community Development | Economic Development | Rural Development

Kansas State's TDI Partners With Innovation Center for Rural Housing Initiative
WIBW 13 | Feb. 1 | Economic Development | Redevelopment | Rural Development

USDA Looking for ‘Climate Change Fellows' in Iowa to Help With Energy Efficiency
KTIV 4 News | Jan. 31 | Community Development | Energy Finance | Rural Development

Rural Workforce Housing Fund Recipients Announced by Nebraska DED
KNOP News 2 | Jan. 31 | Community Development | Rural Development | State Finance Program

Connecticut Rural Communities Awarded $9M for Transportation Infrastructure
Fox 61 | Jan. 30 | Infrastructure Finance | Rural Development | State Finance Program

USDA Investing Over $200K in Public Safety, Healthcare Projects in Pennsylvania
WFMJ | Jan. 25 | Community Development | Healthcare | Rural Development

Kansas Governor Announces Nearly $1.4M for Rural Economic Development
Kansas Commerce | Jan. 24 | Economic Development | Rural Development | State Finance Program

$173K in Clean Energy Investments Going to Support Rural Businesses in Arkansas
ABC 7 | Jan. 22 | Community Development | Economic Development | Rural Development

USDA Loan to Create Jobs, Expand Agriculture Production in Sumter County, GA
WALB 10 News | Jan. 20 | Agriculture Finance | Community Development | Rural Development

USDA Loans $820K for Infrastructure Revamp in Linn County, IA Fire District #3
CBS 2 Iowa | Jan. 19 | Community Development | Infrastructure Finance | Rural Development

Roadmap to Rural Prosperity Released to Equip Michigan's Rural Communities
Michigan Office of Labor and Economic Opportunity | Jan. 19 | Community Development | Rural Development | State Finance Program

Texas A&M Launches New Rural Engagement Program
KAGS | Jan. 17 | Community Development | Healthcare | Rural Development

Missoula County, MT Accepting Applications for Rural Grant Program
NBC Montana | Jan. 14 | Community Development | Rural Development | State Finance Program

New Baltimore County, MD Bill Would Promote Affordable Housing in Business Areas
WMAR 2 News | Jan. 12 | Community Development | Housing Finance | Rural Development

CDFA Resources

USDA Local and Regional Food Systems Resource Guide
Access to Capital | Agriculture Finance | Energy Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance | Urban Development | Community Development | Economic Development | Infrastructure Finance | Tribal Finance
Local and Regional Foods are a small but vitally important part of agriculture sales in the United States. The U.S. Department of Agriculture (USDA) Local and Regional Food Systems Resource Guide is intended to help stakeholders navigate USDA resources to strengthen local and regional food systems. Stakeholders can use these resources to partner with USDA to address climate change, create more and better market opportunities, support food and nutrition security, and advance racial justice, equity, opportunity, and rural prosperity.


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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