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CDFA COVID-19 Recovery & Relief Update - June 22, 2021

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COVID-19 Recovery & Relief Update
June 22, 2021
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COVID-19 Recovery & Relief Update


Take Action -- Tell Congress to Include Bond Provisions in the Infrastructure Bill
CDFA is mobilizing a nationwide coalition to submit a letter to Congress asking that bond financing provisions be included in the infrastructure bill. We invite you to sign our coalition letter to show your organization's support for including several key tax-exempt bond provisions.


Coronavirus State and Local Fiscal Recovery Funds: Five Things Governments Need to Know
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.

Learn to Address Affordable Housing Challenges at the CDFA Intro Housing Course
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.

USDA Announces Additional Aid to Ag Producers and Businesses in Pandemic Assistance for Producers Initiative
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.

Coastal Area District Development Authority to Distribute Funding to Nine Georgia Counties
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.

American Rescue Plan Includes Key Health Priorities
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.

Hospitality Tax Aid Could Take Back Seat On Capitol Hill
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.

U.S. EDA Invests $1.2M in CARES Act Recovery Assistance in Athens, OH
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.

USDA to Invest an Additional $4B to Strengthen Food System
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.

Upcoming Events
CDFA Federal Financing Webinar Series

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
In this installment of the CDFA Food Systems Finance Webinar Series, we will explore how tech innovations are increasing access to financing for food-related businesses and projects, and how finance is supporting the integration of new technology in local food systems.

CDFA // BNY Mellon Development Finance Webcast Series: How Healthcare is Investing in Communities
Tuesday, July 20, 2021 - 2:00 PM - 3:00 PM Eastern
During this webinar, we will hear from experts on creative ways that hospitals and healthcare systems can be better partners in solving the most pressing issues in our communities.

State & Local Programs

Businesses in York County, PA Receive Assistance
Pennsylvania DCED | Jun. 11 | Access to Capital | Disaster Recovery & Relief | Economic Development | Food Systems Finance | Local Finance Program | Rural Development | COVID-19

Colorado Passes $228M in 12 Bills to Power Economic Recovery
The Colorado Springs Business Journal | Jun. 9 | Access to Capital | Disaster Recovery & Relief | Legislative | Revolving Loan Funds (RLFs) | Rural Development | State Finance Program | Tax Credits | COVID-19

Federal Financing Programs

Agency Seal Federal Communications Commission (FCC)

Emergency Broadband Benefit Program
The Emergency Broadband Benefit Program provides support for broadband services and certain devices to help low-income households stay connected during the COVID-19 pandemic.

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

EDA CARES Act Recovery Assistance
EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau's flexible Economic Adjustment Assistance (EAA) program, provides a wide range of financial assistance...

Agency Seal U.S. Dept. of Education (DoED)

Education Stabilization Fund Discretionary Grants
Congress set aside 1% of the $30.75 billion allotted to the Education Stabilization Fund through the CARES Act for grants to States with the highest coronavirus burden. The Department will make these...

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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