A joint resource guide has been unveiled to help community organizations access USDA and EDA resources to build strategies to boost economic development in rural America. The resource guide outlines programs and services that can be used to advance community and economic development in rural communities through four key focus areas: planning and technical assistance; infrastructure and broadband expansion; entrepreneurship and business assistance; and workforce development and livability.

The Biden administration announced its Housing Supply Action Plan to close the housing supply shortfall in five years, including the creation and preservation of hundreds of thousands of affordable homes in the next three years. The plan calls for investments in housing production and preservation, such as those outlined in the House reconciliation bill to increase the annual low-income housing tax credit (LIHTC) allocation cap and create the Neighborhood Homes Tax Credit.

The Infrastructure Investment and Jobs Act, a $1.2 trillion bill that funds improvements in transportation, water, energy, broadband and climate resilience projects, should be able to help rural communities. The legislation includes money to make forests more resilient to fire and defend at-risk communities. But according to a recent analysis by the Montana-based research group Headwaters Economics, over half of the communities in the West might not be able to access those funds.

In existence since 2000, the amount of federal New Markets Tax Credit (NMTC) funds making their way to Native Americans and tribal lands is surprisingly low. In the latest round of NMTC allocations, only one native entity was awarded NMTCs, comprising only 0.60% of the funding awarded. The program historically has favored investments in urban settings rather than more rural locations, making investments in large portions of Indian Country less attractive to potential funding partners.

Central to that work at the Michigan Department of Environment, Great Lakes, and Energy and its predecessor agency is a state-federal partnership to finance water infrastructure at affordable rates. Called the state revolving funds, the SRFs are now taking a starring role in renewing the nation's water systems. They are the primary channel through which billions of dollars from the federal infrastructure bill will be directed to states and then to communities.

Governor Janet Mills and MaineHousing announced the launch of a $20 million program to tackle Maine's housing shortage by expanding the availability of affordable rental housing across rural Maine. The Rural Affordable Rental Housing Program will provide funding to build smaller affordable rental housing units.

The Vermont League of Cities and Towns (VLCT) released an independent analysis of Vermont's Tax Increment Financing (TIF) program that concluded that TIF helps Vermont meet its smart growth goals, promotes long-term planning, and contributes to net-growth in the Education Fund. The report comes as the Vermont Legislature considers expanding TIF to smaller, rural communities through "project-based TIF."

U.S. Department of Agriculture (USDA) is investing nearly $800 million in climate-smart infrastructure in 40 states, Puerto Rico, and the Northern Mariana Islands. These investments will strengthen the health and livelihoods of people across rural America. They include funding for 165 projects to expand access to safe water and/or clean energy for people living in disadvantaged communities.

Exploring Equitable Capital Technology (EC-Tech) in Development Finance
Tuesday, May 24, 2022 - 2:00 PM - 3:00 PM Eastern

CDFA Infrastructure Finance Learning Series: Building the Foundation for Infrastructure Projects
Tuesday, May 31, 2022 - 1:00 PM - 4:00 PM Eastern

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This document provides guidance on the application, award requirements, and administration of the TA Grant Program. Section II describes the available TA Grant Program funding. Section III defines eligible recipients, eligible beneficiaries, and eligible TA providers. Section IV provides detail on qualifying TA services. Section V describes the application process, including the components of the required TA plan, and more.

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