About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Legislative and Federal Affairs Update - February 1, 2022

Having trouble viewing this newsletter? View it online.
Legislative and Federal Affairs Update
February 1, 2022
Subscribe
View Archives
Legislative and Federal Affairs Update

Legislative Features

U.S. Department of Treasury Issues SLFRF Final Rule
On January 6, the U.S. Department of Treasury issued its Final Rule on the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program. This $350 billion in funding was enacted through the American Rescue Plan Act of 2021 to provide every unit of local government and state/territory direct funding for recovery from the impacts of the COVID crisis.

2022 Climate Bills Will Focus on Electrification
As the Maryland General Assembly settles into its regular 90-day session, environmental leaders in both chambers are expected to reveal legislative proposals aimed at tackling climate change soon. The Senate draft could be ready as early as next week.

Momentum Builds for New COVID-19 Relief for Businesses
Momentum is building on Capitol Hill for more coronavirus relief funding to support restaurants and other businesses struggling to stay afloat in the face of the latest wave of the pandemic fueled by the omicron variant. Lawmakers involved in negotiations say support has been building among members for legislation aimed at supporting businesses that have been disproportionately hit by the pandemic.

Biden to Tout New Bridge Program at Infrastructure Law's 60-day Mark
The Biden administration is launching a new multi-billion-dollar bridge investment program funded by the $1.2 trillion infrastructure law that will provide funds to repair bridges across the country. The program, which will be administered by the Transportation Department's Federal Highway Administration, will provide $26.5 billion to states, Washington, D.C., and Puerto Rico and $825 million to tribes over the next five years to repair existing bridges and build new ones.

ARPA Final Rule – The "B-Sides Collection": Funding Capital Projects
Under the new ARPA guidance, the Treasury is presuming up to $10 million in revenue has been lost by each local government due to the public health emergency. Recipients are permitted to use up to that amount (not to exceed their respective awards) to fund "government services." Counties, metropolitan cities and non-entitlement units of local government may use their ARPA Local Fiscal Recovery Fund payments under four buckets of use set forth in the statute.

Bill Introduced to Help Small Businesses Access Capital, Create Jobs in Rural America
Sens. John Kennedy and Tina Smith introduced the Expanding Access to Capital for Rural Job Creators Act to examine problems small businesses in rural areas face when they attempt to access capital.

More Broadband Projects Eligible for Funding Under New ARPA Rules
The U.S. Treasury Department revised its rules specifying how states can use federal funding provided by the American Rescue Plan Act (ARPA), enabling a broader range of broadband projects to receive support. A set of final rules issued late last week includes two key changes: one provides more flexibility in what areas are eligible for support and the other is designed to ensure consumers can afford to use the broadband networks built with ARPA funding.

Infrastructure Bill: What Money is Going Into Texas Projects
The White House is projecting the Lone Star State will receive about $35 billion during a five-year span that will go towards a variety of projects. This article takes a closer look at where this money would be distributed in Texas, based on estimations from the federal government.

Upcoming Events
Intro Bond Finance Course

CDFA Federal Financing Webinar Series: Capacity Building Programs from EDA and NIST
Tuesday, February 8, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the Department of Commerce to support projects in communities of all sizes. Featured programs include new funding opportunities through the Economic Development Administration (EDA) and recent activities at NIST and the Manufacturing Extension Partnership.

CDFA // BNY Mellon Development Finance Webcast Series: Analyzing the Impact of COVID-19 Emergency Loan Funds
Tuesday, February 22, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we take a look at some takeaways from the deployment of CARES Act funds and other emergency pandemic response programs, including how communities designed emergency loan funds and what impacts the funds had on small and micro businesses.

Federal Features

USDA Invests $1B to Improve Community Infrastructure for Rural Towns
USDA Deputy Secretary Dr. Jewel Bronaugh announced that USDA is investing $1 billion to build and improve critical community facilities in 48 states, Puerto Rico and Guam. This infrastructure funding will increase access to health care, education, and public safety while spurring community development and building sound infrastructure for people living in rural communities.

Investing in a More Equitable Post-Pandemic Banking System
The U.S. Department of Treasury's Emergency Capital Investment Program (ECIP) is part of a recent uptick in sources of equity for banks and credit unions with a focus on historically disinvested communities. These sources of equity have emerged largely in response to the continuing drop in Black-owned financial institutions, which number less than 20 today compared to around 40 a decade ago.

EPA Announces $688M New WIFIA Loans, $5B in Water Infrastructure Investments
The U.S. Environmental Protection Agency (EPA) announced new Water Infrastructure Finance and Innovation Act (WIFIA) loans totaling $688 million to help finance water infrastructure projects in Baltimore, MD, Milwaukee, WI, and the San Francisco Bay area. In the first year of the Biden-Harris administration, EPA closed 29 WIFIA loans that are investing over $5 billion in communities across the country to protect public health and the environment while creating over 36,000 jobs.

FACT SHEET: Biden-⁠Harris Administration Hits the Ground Running 60 Days Into Infrastructure Implementation
Since President Biden signed the Bipartisan Infrastructure Law 60 days ago, the Biden-Harris Administration has hit the ground running to deliver results. The Administration has made key progress towards implementing the largest long-term investment in America's infrastructure and competitiveness in nearly a century.

USDA Rural Development Invests $331M Into Rural Iowa
The USDA Rural Development announced a $331 million investment to improve critical infrastructure in rural Iowa last month. Iowa USDA Rural Development Director Theresa Greenfield says the investment comes as part of a more considerable $5.2 billion investment by the USDA into 46 states and Puerto Rico.

NACWA, EPA Meet on Infrastructure Bill Implementation
The National Association of Clean Water Agencies (NACWA) held a virtual meeting on Jan. 6 with U.S. EPA Assistant Administrator for Water Radhika Fox and other senior EPA Office of Water staff to discuss implementation issues and distribution of funds from the recently passed bipartisan infrastructure legislation, the Infrastructure Investment and Jobs Act (IIJA).

USDA Invests $50M in Partnerships to Improve Equity, Address Climate Change
USDA is investing $50 million in 118 partnerships to expand access to conservation assistance for climate-smart agriculture and forestry. The Equity Conservation Cooperative Agreements, administered by USDA's Natural Resources Conservation Service will fund two-year projects to expand the delivery of conservation assistance to farmers who are new to farming, low income, socially disadvantaged or military veterans.

USDA Advancing Equity in Distressed Rural Communities
U.S. Department of Agriculture announced that the Department is increasing the maximum loan amount to $400,000 under the Intermediary Relending Program. This change is in accordance with provisions in the Agriculture Improvement Act of 2018 (2018 Farm Bill). USDA is offering priority points to projects that advance key priorities under the Biden-Harris Administration to help communities recover from the COVID-19 pandemic, advance equity, and combat climate change.

Federal Financing Clearinghouse Spotlight

CDFA's Federal Financing Clearinghouse is the only online resource cataloging the development finance programs offered by the federal government. Check out our featured agencies and programs below. >>> Learn More

Agency Seal Federal Communications Commission (FCC)

COVID-19 Telehealth Program
The COVID-19 Telehealth Program will provide $200 million in funding to help health care providers provide connected care services to patients at their homes or mobile locations.

Agency Seal Northern Border Regional Commission

NBRC Local Development Districts
The NBRC Federal-State partnership is aided by a group of regional organizations called Local Development Districts (LDD's) that assist the NBRC in its outreach activities and administer NBRC...

Agency Seal U.S. Dept. of Agriculture (USDA)

Community Facilities Relending Program
This program makes loans to eligible lenders (re-lenders) which will in turn re-loan those funds to applicants for essential community facilities. The Community Facilities programs provide loans for...

Agency Seal U.S. Dept. of Commerce (DOC)

Tribal Broadband Connectivity Program
The Tribal Broadband Connectivity Program will provide grants to expand access to and adoption of (a) broadband service on Tribal land; or (b) remote learning, telework, or telehealth resources...

Legislative and Federal Headlines

Bipartisan Infrastructure Law Guidebook
The White House | Jan. 31 | Economic Development | Federal | Infrastructure Finance | Legislative

State Senate Bill 1319 Would Amend Local Development Act
Muskogee Phoenix | Jan. 24 | Community Development | Economic Development | Legislative | State Finance Program | Tax Increment Finance (TIF)

Mortgage Bankers Association Working Toward Affordable Housing Pledge
MPA | Jan. 24 | Housing Finance | Incentives | Legislative | Tax Credits

Michigan Gov. Whitmer to Propose Tripling Tax Credit for Low-Wage Workers
9&10 News | Jan. 24 | Federal | Tax Credits

‘Unprecedented' Investment Fuels $27M Makeover at Richford Arms in Downtown Erie, PA
Go Erie | Jan. 22 | Community Development | Federal | Housing Finance | Redevelopment | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD) | COVID-19

New Markets Tax Credit Brings 45 Affordable Homes to Westside and Southwest Atlanta, GA
The Atlanta Voice | Jan. 22 | Community Development | Federal | Housing Finance | Tax Credits

Biden's $2T Spending Bill Will Look Different
Yahoo Finance | Jan. 21 | Economic Development | Energy Finance | Legislative | Tax Credits

From Brownfields to Solar Fields in Southwest Virginia
The Roanoke Times | Jan. 21 | Brownfield Financing | Energy Finance | Legislative | Redevelopment | State Finance Program

How are Rural Communities Using American Rescue Plan Funds?
The Daily Yonder | Jan. 19 | Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Federal | Rural Development

$75M Kentucky Rural Jobs Tax Credit Bill Returns
Herald Leader | Jan. 19 | Economic Development | Incentives | Legislative | Rural Development | Tax Credits

Housing Trust Group Completes Three Developments in Southern and Central Florida
Affordable Housing Finance | Jan. 19 | Community Development | Federal | Housing Finance | Tax Credits

U.S. Ag Secretary Highlights Key Work in 2021 to Create More and Better Markets
USDA | Jan. 19 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | COVID-19

Bill Would Allow Vancouver Businesses to Continue Getting Assistance, Tax Credits
The Columbian | Jan. 18 | Economic Development | Historic Preservation | Legislative | Redevelopment | Tax Credits

Food Lockers Could Combat Hunger in Rural South Dakota Communities
Public Opinion | Jan. 13 | Federal | Food Systems Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

USDA to Invest up to $225M in Partner-Driven Conservation on Agricultural and Forest Land
USDA | Jan. 13 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | Public-Private Partnership (P3) Financing | U.S. Dept. of Agriculture (USDA)

Mine Clean-Up Financing May Be Poised for an Upgrade
Wyofile | Jan. 12 | Bond Finance | Energy Finance | Green Finance | Legislative

Nevada Rural Housing Authority Will Open Housing Choice Voucher Wait List
Nevada Business | Jan. 12 | Federal | Housing Finance | Rural Development

Vilsack Meets with Rural Black Leaders in Georgia, Signs MOU
The Fence Post | Jan. 11 | Agriculture Finance | Federal | Rural Development | U.S. Dept. of Agriculture (USDA)

Norfolk, NE Senator Introduces Bill to Prevent Casinos From Getting TIF
Norfolk Daily News | Jan. 7 | Legislative | State Finance Program | Tax Increment Finance (TIF)

Treasury Issues Final Rule for SLFRF Program to Support the Ongoing COVID Response
U.S. Department of The Treasury | Jan. 6 | Disaster Recovery & Relief | Federal | Legislative | U.S. Dept. of Treasury


New Additions to the Online Resource Database

CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market's Response to Federal Infrastructure Investments
Bond Finance | Federal | Infrastructure Finance | Webcasts
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we explored economic insights for 2022, including the impacts of the Bipartisan Infrastructure Bill, the state of the bond market, and an outlook on economic recovery strategies.

USDA Advancing Equity in Distressed Rural Communities
Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Economic Development | Federal | Legislative | Revolving Loan Funds (RLFs) | Rural Development
U.S. Department of Agriculture announced that the Department is increasing the maximum loan amount to $400,000 under the Intermediary Relending Program. This change is in accordance with provisions in the Agriculture Improvement Act of 2018 (2018 Farm Bill). USDA is offering priority points to projects that advance key priorities under the Biden-Harris Administration to help communities recover from the COVID-19 pandemic, advance equity and combat climate change.


The Council of Development Finance Agencies 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 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

Archives

Displaying 1 - 30 of 93

April 2, 2024
March 5, 2024
February 6, 2024
January 2, 2024
December 5, 2023
November 7, 2023
October 3, 2023
September 5, 2023
August 1, 2023
July 4, 2023
June 6, 2023
May 2, 2023
April 4, 2023
March 7, 2023
February 7, 2023
January 3, 2023
December 6, 2022
November 1, 2022
October 4, 2022
September 6, 2022
August 2, 2022
July 5, 2022
June 7, 2022
May 3, 2022
April 5, 2022
March 1, 2022
February 1, 2022
January 4, 2022
December 7, 2021
November 2, 2021




CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor