The Federal Reserve Board issued an Advance Notice of Proposed Rulemaking (ANPR) that invites public comment on an approach to modernizing the regulations that implement the Community Reinvestment Act (CRA) by strengthening, clarifying, and tailoring them to reflect the current banking landscape and better meet the core purpose of the CRA.

The CDFI Fund released the Notice of Allocation Availability (NOAA) for the calendar year 2020 round of the New Markets Tax Credit Program. The NOAA makes up to $5.0 billion in tax credit allocation authority available for the CY 2020 round, an increase of $1.5 billion more than the $3.5 billion in NMTCs initially authorized for allocation in CY 2019.

California Governor Gavin Newsom signed three bills into law that were designed to provide support for small businesses, including restaurants and other food and beverage companies. One of the bills, SB 1447, authorizes a $100 million hiring tax credit program for qualified small businesses.

The way Americans work and live is facing a once-in-a-lifetime challenge in the form of simultaneous crises of public health, the economy, climate change, and racial justice. If we stand any chance of responding to these challenges in a fair, inclusive, and effective way, we need a renewal of creative federalism. 

The Fresh Food Financing Initiative (FFFI) was funded at $10M through the federal CARES Act and opened in July to for-profit, nonprofit, or cooperative entities including grocery stores, corner stores, convenience stores, neighborhood markets, bodegas, food hubs, mobile markets, farmers markets, on-farm markets, urban farms, and food aggregation centers with a direct connection to direct-to-consumer retail outlets.

The Small Business Administration (SBA) 504 Loan Program completed its largest monthly funding of loans in the program's 34-year history, including 1,462 loans for $1,284,274,000 – more than double the previous record set in September 2012.  Historic levels of 504 loan closings and fundings were driven by record low interest rates and debt relief provided by the CARES Act.

The Federal Reserve's Main Street Lending Program isn't living up to expectations as some of the nation's biggest lenders have demanded such crushing terms that discussions have stalled from the get-go, while other banks have decided not to participate at all. That's meant the take-up for the $600 billion program is just 0.2%, threatening to undercut the economic recovery and efforts to protect jobs.

According to a study released this week, Maine's tax credit for restoring historic buildings has credit has helped rehabilitate 3.6 million square feet of commercial or residential space, preserved 1,300 units for middle-income residents, created 700 full-time year-round jobs, and generated $13 million a year in economic impact.

Intro Food Systems Finance WebCourse
December 9-10, 2020 - 12:00 - 5:00 PM Eastern

CDFA Food Systems Finance Webinar Series: Financing Food Systems Entrepreneurs
Tuesday, September 29, 2020 - 2:00 PM Eastern

CDFA-PFM Capital Markets Webinar Series: Pricing Private Activity Bonds in Complex Capital Stacks
October 8, 2020 - 2:00 - 3:30 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Manufacturing Bonds for Disaster Response
Tuesday, October 20, 2020 - 1:00 PM Eastern

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Traditional sources of capital ranging from philanthropy to private equity to banking institutions have demonstrated a strong interest in investing in a more diversified, resilient food system. To better understand and capture the capital needs of current operators in the regenerative value chain during the COVID-19 pandemic, Croatan Institute and Thread Fund conducted original research focused on the livestock and grain sectors in the spring and early summer of 2020.

Recovering from the pandemic and addressing the intergenerational inequities that have stunted personal and national prosperity will require an all-hands-on-deck effort. This guide is intended for government officials, community members, education leaders, entrepreneurs, investors, funders, and others who are eager to create pathways of prosperity for children growing up in OZs, and their families.

The New Markets Tax Credit program, created to spark investment in disadvantaged communities, has become a valuable source of flexible capital for healthcare providers and health systems to tackle the immediate needs of both their organizations and communities to affect positive change. NMTC funding has been used for new construction or renovation of facilities including emergency rooms, mental health departments, primary care and community clinics, and specialty service facilities such as testing sites, wellness centers, and radiology and imaging facilities.

Though challenges exist, there are unprecedented opportunities for U.S. agriculture to collaborate and build on its existing strengths to deliver business value for the sector as a whole while contributing to the sustainable development goals and the improved well-being of people and the planet.

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