The New Jersey Economic Development Authority (NJEDA) recently approved a new $20 million pilot program that is designed to help developers gain access to capital and build additional capacity to expand their existing portfolio. The Emerging Developer Fund will provide grants of up to $200,000 to assist small-scale developers with up to 50% of their pre-development soft costs.

Forest City Council members approved a total of $100,000 to support child care and economic development needs and initiatives across the city. Passage of two resolutions will obligate $25,000 in tax increment financing (TIF) funds to the Forest City YMCA Daycare, which serves via three locations in Forest City, and $75,000 in TIF funds to Forest City Economic Development for its industrial marketing plan.

Housing Trust Group has opened Crescent Place, an $18.2 million affordable housing community in the Chicago suburb of Arlington Heights. Funding included a $10.9 million construction loan and a $1.6 million permanent loan from BMO Harris Bank; $12.1 million in 9% Low-Income Housing Tax Credit equity from National Equity Fund; $4 million from the COVID-19 Affordable Housing Grant Program provided by the Illinois Housing Development Authority; and a $110,214 ComEd grant for building according to Energy Star efficient standards.

The U.S. Department of Energy announced $275 million for seven projects to strengthen clean energy supply chains and accelerate domestic clean energy manufacturing in nine former coal communities across the nation. Each project positions the U.S. to enhance its global competitiveness and national security by building domestic supply chains for existing and emerging technologies, built with American labor and materials.

According to the Harvard Food Law and Policy Clinic, 40% of all food in the U.S. is wasted, which also squanders water, energy, and space in landfills. States across the country are setting up systems for reducing food waste in a lasting and impactful way. For example, in Maryland, farmers can receive a tax credit of up to $5,000 for food donations. Colorado, California, and Massachusetts are working on legislation that would provide funds to private-sector composting and organic collections.

The City of Cloquet is granting one of the largest private local employers a subsidy to assist in a 7,000-square-foot addition expected to create 11 new jobs. Upper Lakes Foods is using tax increment financing (TIF) to assist with its construction project. To do so, the city will create a development district and then create a TIF district as part of it.

The historic Worcester Boys Club building and property will soon be transformed into 80 affordable apartment homes for adults 55 and older. The Massachusetts Executive Office for Housing and Livable Communities has authorized the bulk of the funding through the Low-Income Housing Tax Credit program, with additional monies coming from MassDevelopment's Underutilized Property Program, HOME and Affordable Housing Trust funds from the city, and federal and state Historic Tax Credits from the U.S. National Park Service and Massachusetts Historic Commission.

The U.S. Department of the Treasury announced $50.8M in awards for the State Small Business Credit Initiative's Technical Assistance Grant Program. The state of Maryland was one of the awardees, receiving $3.3 million. The state's Small Business Development Center at University of Maryland will use the capital to connect underserved and very small businesses with mentorship at government, nonprofit, and corporate institutions that specialize in business development and financing. 

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