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CDFA Legislative and Federal Affairs Update - November 7, 2023

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Legislative and Federal Affairs Update
November 7, 2023
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Legislative and Federal Affairs Update


CDFA Coalition Submits $2B Clean Investment Accelerator for DFAs Proposal Under Greenhouse Gas Reduction Fund Competition
CDFA and its coalition partners submitted a $2 billion Clean Investment Accelerator for Development Finance Agencies (DFAs) proposal for the Clean Communities Investment Accelerator competition under the Greenhouse Gas Reduction Fund. Under this program, CDFA and its coalition partners will launch a 6-year accelerator program designed to serve a community lender network of DFAs to build the expertise and financial capacity of DFAs to fund qualified projects that reduce or avoid emissions of greenhouse gas and other pollutants in low-income and disadvantaged communities.

Legislative Features

Join CDFA for Our New Intro Federal Finance Course
Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.

New Mexico Announces $235.1M for Indian Water Rights Settlements and Infrastructure
New Mexico received a $235.1 million allocation to continue fulfilling settlements of Indian water rights claims using funding from the Infrastructure Law and the Reclamation Water Settlements Fund. The Navajo-Gallup Water Project, which includes the Navajo Nation and the Jicarilla Apache Nation as well as the City of Gallup, will receive $164 million and another $2 million will be directed to Navajo-Gallup Water supply operations, maintenance, and replacement efforts

White House Announces Over $5B in Rural Community Support
President Biden announced over $5 billion in new investments from his Investing in America agenda – including the Bipartisan Infrastructure Law and the Inflation Reduction Act – to advance rural prosperity, economic development, competition, and sustainability. The funds will go toward infrastructure projects, economic development, climate-smart agriculture, broadband internet, and renewable energy projects.

U.S. EPA Awards $128M for 186 Environmental Justice Projects Nationwide
The U.S. Environmental Protection Agency (EPA) announced nearly $128 million to fund 186 projects across the country that advance environmental justice. The organizations, that EPA has selected through its Environmental Justice Collaborative Problem Solving Cooperative Agreement and Environmental Justice Government-to-Government programs, will use the funds to ensure disadvantaged communities have access to clean air and water and climate resilience solutions.

U.S. EDA Designates 31 Tech Hubs Across the United States
The U.S. Economic Development Administration (EDA) announced the designation of 31 Tech Hubs in regions across the country. This is the first phase of the new Tech Hubs program, which is an economic development initiative designed to drive regional innovation and job creation by strengthening a region's capacity to manufacture, commercialize, and deploy technology that will advance American competitiveness.  

Oklahoma Tribal Governments and State Agencies Pool $200M for Water Infrastructure
Oklahoma tribes, the state of Oklahoma, the Indian Health Service (IHS), and communities are working together utilizing $20 million in American Rescue Plan funds in a unified effort to improve the water infrastructure of communities within the state. Tribal governments and the IHS have contributed a total of more than $107 million to these projects. State funds for the water projects exceed $69 million, and communities are contributing more than $1 million.

North Dakota Receives $600M for Electric Grid Investments
North Dakota will receive over $600 million in funding for three projects from the Grid Resilience and Innovation Partnerships (GRIP) Program. The GRIP Program, established through the Infrastructure Investment and Jobs Act, will be distributing a total of $3.46 billion for 58 projects across the country to strengthen electric grid resilience and reliability. 

California Uses $2.3B in Federal Funds for Road and Rail Infrastructure
California allocated more than $3.7 billion to rebuild the state's transportation infrastructure. More than $2.3 billion is from the Infrastructure Investment and Jobs Act of 2021, the bulk of which is going to improve bridges, travel times, and air quality; reduce planet-warming pollution; increase highway and rail safety; and provide transportation services. Nearly $169 million in funding is from California's Road Repair and Accountability Act of 2017.

U.S. Department of Energy Invests $3.5B in America's Electric Grid
The U.S. Department of Energy (DOE) announced $3.46 billion for 58 projects across 44 states to strengthen electric grid resilience and reliability. Funded by the Bipartisan Infrastructure Law, these projects will leverage more than $8 billion in federal and private investments to deliver affordable, clean electricity to all Americans and ensure that communities across the nation have a reliable grid that is prepared for extreme weather worsened by the climate crisis. 

U.S. EPA Announces $450M for Great Lakes Cleanup in Milwaukee, WI
The U.S. Environmental Protection Agency (EPA) announced a roughly $450 million effort to remove almost 2 million cubic yards of contaminated sediments within the Milwaukee Estuary. That's the equivalent of 610 Olympic-sized swimming pools of contaminated sediments that will be dredged from the Milwaukee Harbor and three rivers in the surrounding area.

U.S. States Receiving $61B in Bipartisan Infrastructure Law Funds for Roads and Bridges
The U.S. Department of Transportation's Federal Highway Administration (FHWA) announced that it has allocated $61 billion in Fiscal Year 2024 apportionments for 12 formula programs to support investment in critical infrastructure, including roads, bridges and tunnels, carbon emission reduction, and safety improvements, as well as workforce development, utilizing funding from the Bipartisan Infrastructure Law. The funds go directly to all 50 States, the District of Columbia, and Puerto Rico.

Upcoming Events
Intro Federal Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: The Latest in Cannabis Finance
November 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, speakers will review the latest regulations affecting cannabis financing and the creative financing approaches providing capital to this emerging industry.

CDFA Food Systems Finance Webinar Series: Restoring Local Food Systems Through Finance
November 28, 2023 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we will illustrate the Reframe, Build, Plan framework of critical success factors that are needed to expand financing and drive capital into local food systems.

Federal Features

Ft. Lauderdale, FL Receives $120M WIFIA Loan for Climate Resilience
The U.S. Environmental Protection Agency (EPA) announced a $120 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to Fort Lauderdale, FL. This funding will improve stormwater management and bolster climate resilience in the city's most flood-prone neighborhoods. 

Monterey County, CA Receives $76M WIFIA Loan for Climate Resiliency
The U.S. Environmental Protection Agency (EPA) announced a Water Infrastructure Finance and Innovation Act (WIFIA) loan to Monterey One Water in Monterey County, CA. This $76 million loan will expand existing water reuse capacity from 5 million gallons per day to 7.6 million gallons per day while ensuring residents and businesses in the surrounding areas have a climate-resilient water supply.

U.S. EPA Grants $1M to Remediate Future Pennsylvania Daycare Center
The U.S. Environmental Protection Agency (EPA) is funneling $500,000 through the Riverside Center for Innovation — a Pittsburgh, PA nonprofit that partners with community groups to revitalize properties — to remediate hazards in and around an abandoned structure that will eventually become a daycare center. Another $500,00 is going to the Young Preservationists Association, which aims to facilitate economic development through historic preservation.

U.S. HUD Announces $212M for Affordable Housing Options for Persons with Disabilities
The U.S. Department of Housing and Urban Development's (HUD) Office of Multifamily Housing announced that $212 million in funding to expand the supply of affordable housing and supportive services for very-low and extremely-low-income persons with disabilities. The funding is available through the Section 811 Supportive Housing for Persons with Disabilities program, which develops, subsidizes, and provides supportive services for rental housing to meet the needs of this vulnerable population.

St. Louis, MO Receives $330M WIFIA Loan for Emissions Reduction, Energy Efficiency
The U.S. Environmental Protection Agency (EPA) announced a Water Infrastructure Finance and Innovation Act (WIFIA) loan totaling $330 million to the Metropolitan St. Louis Sewer District (MSD Project Clear) in Missouri. This funding will help reduce air emissions by 90%, support energy efficiency, and meet regulatory compliance by constructing new biosolids processing facilities.

Youngstown, OH Receives $5M Urban and Community Forestry Program Grant
The Youngstown Neighborhood Development Corporation (YNDC) and its partners announced a $5 million grant from the United States Department of Agriculture's (USDA) Urban and Community Forestry Program. The funds will be used to develop a tree inventory and management plan, provide forestry training to local professionals and young adults, create living wage jobs, plant and sustain thousands of trees, and address urgent mature tree canopy maintenance and removal needs.

Milwaukee, WI Receives $12M for Urban Forestry and Community Resilience Program
Milwaukee, WI was awarded $12 million by the U.S. Department of Agriculture for the city's "Growing Milwaukee's Tree Canopy and Community Resilience" project - a group effort between the city, county, public schools, and metro sewerage district. Main priorities include tree planting and maintenance, removing pavement at schools and businesses, and hiring more urban forestry workers. Much of the work will happen in areas in the city's more disadvantaged neighborhoods. 

U.S. HUD Announces $75M in Loan Guarantees for California and Nebraska
The U.S. Department of Housing and Urban Development (HUD) awarded a total of $75 million in loan guarantee commitments to the cities of Omaha, NE and Oakland, Fresno, and Redding, CA. This funding is provided by the Section 108 program and will enable transformative investments in housing, community facilities, and economic development.

U.S. EPA Invests $336M in Wastewater Infrastructure Improvements in New York
The U.S. Environmental Protection Agency (EPA) awarded New York State over $336 million to support cleaner water across the state, of which over $253 million is funding through the Bipartisan Infrastructure Law. New York's Clean Water State Revolving Fund provides interest-free or low-interest rate financing for wastewater and sewer infrastructure projects to municipalities.

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)

Connected Care Pilot Program
The Connected Care Pilot Program will provide up to $100 million from the Universal Service Fund (USF) over a three-year period to selected applicants to support the provision of connected care...

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)

Rural Microentrepreneur Assistance Program
The Rural Microentrepreneur Assistance Program provides loans and grants to Microenterprise Development Organizations (MDOs)

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

Economic Adjustment Assistance Programs
The EAA program provides a wide range of technical, planning, and public works and infrastructure assistance in regions experiencing adverse economic changes that may occur suddenly or over time. The...

Legislative and Federal Headlines

Port of Rosedale, MS Receives $8.7M for Maritime Infrastructure
SuperTalk MS Media | Nov. 1 | Federal | Infrastructure Finance | Transportation

U.S. Department of Energy Invests $1.3B for Electric Grid Connecting Six States
U.S. Department of Energy | Oct. 30 | Energy Finance | Green Finance | Infrastructure Finance | Legislative | U.S. Dept. of Energy (DOE)

Susquehanna Valley, PA to Benefit from $1M from Brownfield Revolving Loan Fund
The Daily Item | Oct. 21 | Brownfield Financing | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Local Brownfield Programs | Transportation | EPA Revolving Loan Fund Grants

CDFI Fund Awards $321.2M in Capital Magnet Fund Allocations for Affordable Housing
Novogradac | Oct. 20 | Access to Capital | Federal | Housing Finance | U.S. Dept. of Treasury CDFI Fund

Pennsylvania Announces $175.7M for Drinking and Waste Water Infrastructure
Pennsylvania Pressroom | Oct. 19 | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | State Finance Program | U.S. Environmental Protection Agency (EPA) | Water Finance | Drinking Water | Sewage & Waste

U.S. HUD Provides $103.4M for Energy Efficiency Upgrades in 16 Multifamily Properties
U.S. Department of Housing & Urban Development | Oct. 19 | Energy Finance | Federal | Green Finance | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)

USDA Announces $50M for Forest Products Economy, Rural Development
U.S. Department of Agriculture | Oct. 18 | Green Finance | Legislative | Rural Development

Pacific U.S. Territories Receive $1.9M for Recycling Infrastructure
KUAM News | Oct. 16 | Green Finance | Legislative | U.S. Environmental Protection Agency (EPA)

USDA Invests in Pilot Incorporating Indian Country Bison for Tribal Feeding Programs
U.S. Department of Agriculture | Oct. 16 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | Tribal Finance | U.S. Dept. of Agriculture (USDA)

Appalachian Regional Commission Awards $20M for Smart Grid Technologies
Appalachian Regional Commission | Oct. 11 | Energy Finance | Green Finance | Legislative

USDA Invests $7M for Dairy Innovation in Vermont
Manchester Journal | Oct. 9 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)

U.S. Department of Energy Awards $16M to Illinois to Improve Grid Resiliency
Illinois.gov | Oct. 5 | Energy Finance | Infrastructure Finance | Legislative | U.S. Dept. of Energy (DOE)

U.S. Department of Energy Awards $38M for Clean Energy Technology in Alaska
Alaska Business Magazine | Oct. 5 | Energy Finance | Green Finance | Legislative | Tribal Finance

USDA Provides $27.6M to Support Underserved and Veteran Farmers and Ranchers
U.S. Department of Agriculture | Oct. 4 | Access to Capital | Agriculture Finance | Federal | Social Finance | U.S. Dept. of Agriculture (USDA)

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


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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
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