The U.S. Department of the Treasury published its interim final rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Recovery Fund. The American Rescue Plan Act created the $350 billion recovery funds. To support governments in using money distributed from the recovery funds, the interim rule provides critical guidance regarding eligible uses of funds.

The COVID-19 pandemic has brought about significant challenges for cities to provide and expand access to affordable housing for residents. During the CDFA Intro Housing Finance Course, speakers will walk through the multitude of diverse capital sources layered into housing deals based on the type of housing being developed. Attendees will delve into innovative case studies from across the U.S. of how investment in an effective housing financing strategy can help drive the success of local economic development.

Earlier this year, Secretary Vilsack announced plans to use available pandemic assistance funds to address a number of gaps and disparities in previous rounds of aid. Since January 2021, USDA has allocated $11 billion to producers and food and ag businesses.

The Coastal Area District Development Authority has announced plans to distribute $10 million from recently secured CARES Act funding to support small businesses in coastal communities in Southeast Georgia. The CADDA CARES Act Loan Fund will play an essential role in providing access to capital to bring small businesses back to life.

The American Rescue Plan provides an additional $8.5 billion for rural health care providers for expenses and lost revenue attributed to the COVID-19 pandemic. The law also provides the U.S. Department of Agriculture (USDA) with $500 million to establish a temporary emergency rural development grant program to help rural health care providers respond to COVID-19.

A bipartisan push to provide pandemic-related tax incentives to the tourism and hospitality industries faces hurdles on Capitol Hill as lawmakers focus on trying to advance incentives for infrastructure and for working families proposed in President Joe Biden's recovery plan.

The Economic Development Administration (EDA) is awarding a $1.2 million CARES Act Recovery Assistance grant to Ohio University, Athens, Ohio, to provide technical assistance for biotech entrepreneurs and modify lab space at its Innovation Center. This EDA grant, to be matched with local funds, is expected to create 330 jobs, retain 450 jobs, and generate $25 million in private investment.

Citing lessons learned from the COVID-19 pandemic and recent supply chain disruptions, the USDA announced plans to invest more than $4 billion to strengthen critical supply chains through the Build Back Better initiative. The new effort is directed by Executive Order 14017 America's Supply Chains will create new market opportunities, tackle the climate crisis, help communities that have been left behind, and support good-paying jobs throughout the supply chain.

CDFA SSBCI Briefing
Thursday, July 1, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA Food Systems Finance Webinar Series: Financing Food Systems Through FinTech
Tuesday, July 13, 2021 - 2:00 PM - 3:30 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: How Healthcare is Investing in Communities
Tuesday, July 20, 2021 - 2:00 PM - 3:00 PM Eastern