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CDFA COVID-19 Recovery & Relief Update - May 25, 2021

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COVID-19 Recovery & Relief Update
May 25, 2021
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COVID-19 Recovery & Relief Update

Features

Expand Your Skills at CDFA's Advanced Revolving Loan Fund Course
The Advanced Revolving Loan Fund Course builds on CDFA's Intro RLF Course with in-depth instruction on loan underwriting and portfolio management. Topics discussed during this course include analyzing borrower documents, performing financial analysis, balancing portfolio risk, and making loan decisions based on the mission and lending criteria of your RLF.

In First 11 Days, Treasury Distributes $105.3B through Coronavirus State and Local Fiscal Recovery Funds
The U.S. Department of the Treasury announced that it has distributed $105.3 billion to more than 1,500 recipients through the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act of 2021. This $105.3 billion distribution is part of the $350 billion allocated in emergency funding for state, local, territorial, and Tribal governments.

Don't Fear the Taper: Fed to Dominate Treasury Market for Years
The prospect of a pullback in buying edged a little nearer Wednesday when minutes of the Federal Open Market Committee's April meeting showed that a number of officials were willing to discuss it if the economy keeps improving. Yields rose on the news. But bond bulls say the Fed's virtually inextricable presence in the world's largest bond market means it will provide crucial support long after any price blips come and go when it brings the buying spree to a close.

How Cities, States, and Tribes Can Boost Entrepreneurship via the American Rescue Plan
The COVID-19 crisis has put thousands of small businesses, from high-growth startups to Main Street employers, out of business. Importantly, the economic impacts of COVID-19 have not been equal. Minority-owned businesses and very small businesses are disproportionately concentrated in the industries most heavily impacted by the COVID-19 crisis such as restaurants, retail stores, and personal services.

U.S. Department of the Treasury Launches the Coronavirus State and Local Fiscal Recovery Funds Program
The U.S. Department of the Treasury announced the launch of the Coronavirus State and Local Fiscal Recovery Funds Program, which will provide $350 billion in emergency funds to eligible entities including state, local, territorial, and tribal governments. Eligible entities may use Coronavirus State and Local Fiscal Recovery Funds to stabilize revenue downturns and address budget shortfalls.

Dubuque County Committee Pitches $1M Food Hub as Use for Federal Dollars
Members of the Dubuque County Food Policy council met recently to plan a request for part of the American Rescue Plan, ending with a $1 million package of projects. Major items within that request include incentive programs and reimbursements for agricultural producers to get various certifications, support for new and current producers of food for human consumption, and assistance for costs tied to zoning changes.

CARES Act Funds to Capitalize Revolving Loan Fund in Wyoming
The Economic Development Administration is awarding a $4 million CARES Act Recovery Assistance grant to Rural Development Fund in Casper to capitalize and administer a Revolving Loan Fund to provide critical gap financing to small businesses economically impacted by the coronavirus pandemic in the state of Wyoming.

Columbus, OH City Council Passes Downtown Public Restroom Proposal
Columbus City Council passed legislation last night entering into an agreement with Capital Crossroads Special Improvement District to install at least three new public restroom facilities Downtown. Funding for the project will come from the CARES Act's Community Development Block Grant, received by the City of Columbus last year.

Chicago and Illinois to Push Back on Treasury's Aid Guidance
Chicago and Illinois will make their case with the Treasury Department to alter American Rescue Plan guidance that in its current form would scuttle plans to repay COVID-19 related borrowing with the aid. The Treasury's eagerly awaited guidance lays out in 151 pages how local and state and tribal governments can use their share of the $350 billion of ARP funds.

Upcoming Events
CDFA Federal Financing Webinar Series: Federal Financing for Energy and Water Systems

Advanced Revolving Loan Fund Course
August 9-10, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Advanced Revolving Loan Fund Course builds on CDFA's Intro RLF Course by providing in-depth instruction on loan underwriting and portfolio management. Topics discussed during this course include analyzing borrower documents, performing financial analysis, and making loan decisions based on the mission and lending criteria of your RLF. In addition, attendees will learn principles for analyzing loan performance, balancing portfolio risk through borrower and industry diversity, and smartly managing RLF proceeds to create new lending programs. Given the advanced curriculum for this course, it is expected that attendees will already have some basic education about how revolving loan funds operate and have previously participated in underwriting loans.

Federal Financing Programs

Agency Seal U.S. Dept. of Agriculture (USDA)

Coronavirus Food Assistance Program
The Coronavirus Food Assistance Program provides direct relief to producers who faced price declines and additional marketing costs due to COVID-19.

Agency Seal U.S. Dept. of Treasury

Coronavirus Relief Fund
The Coronavirus Relief Fund provides for payments to State, Local, and Tribal governments navigating the impacts of COVID-19.

Coronavirus State and Local Fiscal Recovery Funds
The Coronavirus State and Local Fiscal Recovery Fund, created by the American Rescue Plan, will deliver $350 billion for eligible state, local, territorial, and Tribal governments to respond to the...

Highlights from the Online Resource Database

Fact Sheet: Coronavirus State and Local Fiscal Recovery Funds
Disaster Recovery & Relief
The $350 billion Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each jurisdiction to meet local needs—including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis. These funds also deliver resources that recipients can invest in building, maintaining, or upgrading their water, sewer, and broadband infrastructure.

American Rescue Plan Resurrects SSBCI - A Key Small-Business Financing Program
Access to Capital | Disaster Recovery & Relief | Economic Development | State Small Business Credit Initiative (SSBCI)
This blog post from the Federal Reserve Bank of St. Louis discusses changes to the newly reauthorized State Small Business Credit Initiative, including funding targeted to businesses owned by socially and economically disadvantaged individuals.

Economic Development Grant Opportunities within the American Rescue Plan
Community Development | Disaster Recovery & Relief | Economic Development | Infrastructure Finance
The American Rescue Plan Act of 2021 (ARP) provides local governments with an unprecedented opportunity to access federal funding to support community priorities. The ARP includes direct funding (known as Fiscal Recovery Funds) to state and local governments as well as additional competitive grant programs flowing through various federal agencies.


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
info@cdfa.net

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CDFA National Sponsors

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