Technical Assistance


CDFA Rural Development Finance Update - May 16, 2023

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Rural Development Finance Update
May 16, 2023
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Rural Development Finance Update


Join CDFA for Our Upcoming Intro Tax Increment Finance Course!
Register for CDFA's Intro Tax Increment Finance (TIF) Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.

Departments of Agriculture and Interior Propose $2.8B to Support Conservation
The Departments of Agriculture and the Interior announced a proposed $2.8 billion for FY2024 authorized by the Great American Outdoors Act (GAOA) to improve infrastructure, recreation facilities, federal lands access, and land and water conservation. The GAOA established the National Parks and Public Land Legacy Restoration Fund, authorizing $1.9 billion per year to reduce the deferred maintenance backlog on federal lands and at Bureau of Indian Education schools. 

Rural Development Partners Secured New Markets Tax Credits in Fayetteville, TN
Rural Development Partners invested $15 million of the $55.5 million in New Markets Tax Credits (NMTC) invested to help AriensCo revitalize an abandoned facility, bringing 350 new jobs to the Fayetteville, Tennessee community along with catalytic economic and workforce development opportunities.

USDA is Providing $130M in Assistance to Help Farmers Facing Financial Risk
The U.S. Department of Agriculture (USDA) announced that nearly $130 million in additional, automatic financial assistance has been obligated for qualifying farm loan program borrowers who are facing financial risk. The announcement is part of the $3.1 billion to help distressed farm loan borrowers that was provided through Section 22006 of the Inflation Reduction Act (IRA).

$11B Investment to Advance Clean Energy Across Rural America
The Biden-Harris Administration announced the availability of nearly $11 billion in grants and loan opportunities that will help rural energy and utility providers bring affordable, reliable clean energy to communities across the country. This represents the single largest investment in rural electrification since President Franklin D. Roosevelt signed the Rural Electrification Act into law in 1936.

Rural Housing Crunch ‘Ripe and Ready' for Legislative Fix
Sen. Tina Smith (D-Minn.) and Sen. Mike Rounds (R-S.D.) introduced S. 1389, which could expand availability of affordable housing by updating programs under the U.S. Department of Agriculture's (USDA) Rural Housing Service. It includes provisions that would make more federal support available to individual renters and open up more properties to nonprofits to keep affordable units on the market for cash-strapped buyers.

USDA Offers New Funding to Promote the Expansion of High-Speed Internet in Rural Areas
U.S. Department of Agriculture (USDA) Rural Development West Virginia director Ryan Thorn announced the availability of $20 million to deliver broadband technical assistance resources for rural communities and support the development and expansion of broadband cooperatives.

Rural Impact Fund Assists Small Businesses Ineligible for Bank Loans
The Alliance for Rural Impact has focused on delivering technical support to boost productivity and workforce development at small businesses in rural communities across the Delta Region, the Mid-South, and extending from east Texas to the Appalachia region. With federal support, the nonprofit organization is moving into the lending arena with a revolving loan fund providing financial support and investment opportunities to micro-enterprises and entrepreneurs in rural areas.

Upcoming Events
Intro Tax Increment Finance Course

2023 Equitable Lending Learning Series: Evaluating Risk
May 23, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will provide an overview of the history of risk assessment in lending, discuss technical strategies and best practices for conducting more equitable evaluation of borrowers while maintaining sustainability, and share examples of how these approaches can be put into action.

CDFA // BNY Mellon Development Finance Webcast Series: Advancing Equitable Economic Development with Affordable Housing
June 20, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will demonstrate how investment in affordable housing advances equitable economic development with a discussion of innovative financing approaches that can help these projects succeed.

USDA Rural Development News

Enhancing Agricultural Opportunities for Military Veterans Competitive Grants Program
The Enhancing Agricultural Opportunities for Military Veterans Program provides grants to nonprofits to increase the number of military veterans gaining knowledge and skills through comprehensive, hands-on, and immersive model farm and ranch programs that lead to successful careers in the food and agricultural sector.

USDA Seeks Applications for Grants to Help Socially Disadvantaged Agricultural Producers and Business Owners
The U.S. Department of Agriculture (USDA) is making available up to $3 million in Fiscal Year 2023 through the Socially Disadvantaged Groups Grant Program for organizations to provide any technical assistance for the development of cooperatives or the formation of new cooperatives.

USDA Makes $31M in Grants Available to Help Farmers and Ranchers
The U.S. Department of Agriculture (USDA) is making $31 million in grants available to help farmers and ranchers access new and better markets by adding more value to their products.

$45M Funding Opportunity to Support Underserved and Veteran Farmers, Ranchers, and Foresters
The U.S. Department of Agriculture (USDA) announced approximately $45 million available to organizations that help underserved and veteran farmers, ranchers, and foresters own and operate successful farms.

Rural Development Finance News

Plan to Retain Affordable Housing High-Rise in Honolulu, HI Moves Forward
Yahoo!News | May. 15 | Bond Finance | Housing Finance | Rural Development

University of Georgia Gets $1M from National Science Foundation
WGAU | May. 15 | Agriculture Finance | Infrastructure Finance | Rural Development

Opportunity Appalachia Driving Investment to Underserved Communities
CDFA | May. 15 | Access to Capital | Opportunity Zones | Rural Development

Loysville, PA Infrastructure Infused with Federal Funding
Penn Live Patriot News | May. 13 | Agriculture Finance | Federal | Infrastructure Finance | Rural Development | Water Finance

$1M Boost for Housing Development in Nebraska
ksnb local4 | May. 12 | Economic Development | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development

HUD Awards More than $22M to Expand Access to Affordable Housing
U.S. Department of Housing and Urban Development | May. 11 | Housing Finance | Rural Development

$6.3M for West Virginia Rural Water Association Workforce Development Program
Joe Manchin | May. 11 | Economic Development | Federal | Rural Development | Water Finance

$50M to Boost Clean Energy Solutions and Cut Costs for Rural America
Energy.gov | May. 11 | Energy Finance | Infrastructure Finance | Rural Development | U.S. Dept. of Energy (DOE)

Indiana Farm Bureau Touts Legislative Successes That Will Benefit Farmers
Brownfield | May. 8 | Agriculture Finance | Healthcare | Legislative | Rural Development | Tax Increment Finance (TIF)

$15M in Loans for Meat and Poultry Processors Now Available through the MDA
MN Department of Agriculture | May. 4 | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

Department of Agriculture Is Loaning Millions to Rural Colleges
The Hechinger Report | Apr. 27 | Agriculture Finance | Community Development | Economic Development | Education | Federal | Rural Development

Rural Main Street Program Says Revitalization Starts at Home
Route Fifty | Apr. 26 | Community Development | Economic Development | Rural Development

Wisconsin State Senator Calls for More Funding for Rural Road Repairs
WHBL | Apr. 25 | Access to Capital | Agriculture Finance | Infrastructure Finance | Legislative | Rural Development

Alabama Senate Passes Two Economic Development Bills
Alabama Political Reporter | Apr. 21 | Economic Development | Incentives | Legislative | Rural Development | Tax Credits

Bonham, TX Developing Plan for Tax Increment Reinvestment Zone
North Texas e-News | Apr. 20 | Redevelopment | Rural Development | Tax Increment Finance (TIF)

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


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