In partnership with The Democracy Collaborative, CDFA has released a concept note to create Local Economy Preservation Funds (LEPFs) as a new financing mechanism to support local small businesses during and after the COVID-19 pandemic. CDFA and The Democracy Collaborative have presented this concept note to the Biden-Harris Transition Team as a potential new program offered by the federal government.

CDFA is delighted to welcome Mike Dickerson, Senior Economist with the City of Tulsa, Oklahoma, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Mr. Dickerson joins the ranks of fellow development finance professionals who are recognized as the most qualified leaders in the industry.

After making a big splash last week and injecting a sense of optimism into long-delayed coronavirus relief talks, a bipartisan $908 billion plan is hung up over the specifics of aid to states and localities and liability protections for businesses. Sources familiar with the talks said those two issues were the main sticking points holding up the introduction of the bill's text, after a three-hour conference call on Sunday.

The CDFI Fund announced that it received 208 applications under the calendar year 2020 round of the New Markets Tax Credit Program. The CDEs that applied under the CY 2020 round are headquartered in 44 states, the District of Columbia, and Puerto Rico. These applicants requested an aggregate total of $15.1 billion in NMTC allocation authority, over three times the $5 billion in authority available for the 2020 round.

The Internal Revenue Service has started sending letters to taxpayers that may need to take additional actions related to Qualified Opportunity Funds (QOF). This letter lets them know that if they intended to self-certify as a QOF they may need to take additional action to meet the annual self-certification requirement.

The $200 million in private activity bonds that were slated to go toward the Brightline West high-speed train project have been redirected toward affordable housing projects in Nevada. The Nevada Department of Business and Industry approved redistributing the bonds from the 2020 bond cap at Tuesday's Private Activity Bond Council meeting.

A new program run by the California Statewide Communities Development Authority is designed to help cities meet their goals for housing middle-income residents, those earning between 80 percent and 120 percent of the area median income. The authority issues tax-exempt bonds to help cities pay for development projects that have some public benefit.

With the COVID-19 pandemic and economic recession disproportionately affecting people of color–along with instances of violence against Black people gaining national attention–there is a renewed focus on racism in America and how systemic racial inequalities need to be addressed.

President-elect Joe Biden plans to nominate former Iowa Gov. Tom Vilsack as his Agriculture secretary and Ohio Rep. Marcia Fudge as his Housing and Urban Development secretary.

Fundamentals of Economic Development Finance WebCourse
January 27-28, 2021 - Daily: 12:00 - 5:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Educational Facilities Funding Solutions
Tuesday, December 15, 2020 - 1:00 PM Eastern

CDFA-PFM Capital Markets Webinar Series: Mitigating Default Risk with Bond Guarantee Programs
December 17, 2020 - 2:00 - 3:30 PM Eastern

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The Urban Institute's Housing Finance Policy Center's mission is to produce analyses and ideas that promote sound public policy, efficient markets, and access to economic opportunity in the area of housing finance. The November 2020 Housing Finance At A Glance is a monthly chartbook and data source for policymakers, academics, journalists, and others interested in the government's role in housing markets.

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