CDFA is researching the feasibility and market demand for a national food systems loan guarantee program to help unlock investment for food- and agriculture-related businesses and projects. This research includes surveying loan funds operated by private, public, and quasi-public development finance agencies (DFAs) around the country to learn more about existing lending programs. Please take a few minutes to share your expertise in this short survey!

Rep. Carol Miller, R-West Virginia, recently introduced the Rural Jobs Act in the House of Representatives. The bill would provide $1 billion of new markets tax credit (NMTC) allocation over the next two years for rural areas. The House version of the legislation's text was not immediately available, but it is expected to be identical to a version introduced in the Senate in May. That legislation would provide $500 million per year in NMTC allocation for 2023 and 2024 for Rural Jobs Zones, which are NMTC-eligible census tracts in rural communities with fewer than 50,000 residents.

The U.S. Environmental Protection Agency (EPA) announced the availability of nearly $50 million in regular funding through the Sewer Overflow and Stormwater Reuse Municipal Grant program to help communities address stormwater and sewer infrastructure needs. States may now apply for grant assistance to fund projects that will help municipalities strengthen their stormwater collection systems against increasingly intense rain events made worse by the climate crisis.

Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit (LIHTC) equity for the $6 million rehabilitation of two affordable housing developments in South Carolina.

U.S. Senators Catherine Cortez Masto (D-Nev.) and Jacky Rosen (D-Nev.) announced that the Washoe Tribe of Nevada & California will receive $1.3 million to modernize and strengthen their energy infrastructure and invest in clean energy. The funding comes from the U.S. Department of Energy's Grid Resilience State and Tribal Formula Grants program, which was created in the Bipartisan Infrastructure Law.

As part of a cooperative agreement to develop and implement the U.S. Department of Agriculture's (USDA) Healthy Meals Incentives Initiative, Action for Healthy Kids announced that it is awarding nearly $30 million in subgrants to 264 school districts across 44 states and the District of Columbia, reaching students in some of our nation's highest-need schools. These funds are being provided by USDA's Food and Nutrition Service.

The U.S. Department of Agriculture (USDA) opened two new programs to advance clean energy generation in rural areas using about $11 billion in funds allocated by the 2022 Inflation Reduction Act. Powering Affordable Clean Energy (PACE) and Empowering Rural America will be administered by USDA's Rural Utilities Service and will support energy reliability and the resilience of rural energy systems in the face of increased wildfires and extreme weather events due to climate change. 

The U.S. Department of Energy (DOE) announced up to $453.5 million from the Puerto Rico Energy Resilience Fund (PR-ERF) aimed at increasing residential rooftop solar PV and battery storage installations across the region, with a focus to reach and support Puerto Rico's most vulnerable residents. This round of funding will provide consumer protection and education initiatives to support residents' long-term use of solar systems.

CDFA Food Systems Finance Webinar Series: Investment Tools & Food Systems
August 29, 2023 - 2:00 PM - 3:30 PM Eastern

CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop
September 7, 2023 - 1:00 PM - 4:00 PM Eastern

>>> VIEW THE RURAL DEVELOPMENT FINANCE RESOURCE CENTER