CDFA Rural Development Finance Update - August 20, 2024

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Features

Unlock Funding Opportunities: Join Our Greenhouse Gas Reduction Fund Readiness Workshop!

Join CDFA for an exclusive online workshop that will dive deep into the Greenhouse Gas Reduction Fund (GGRF) and its pivotal components, including the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA). The GGRF Readiness Workshop will equip you with the knowledge and tools needed to navigate and leverage these significant funding opportunities effectively. Don't miss out on the chance to enhance your funding strategy and boost your project's success!

Oregon Secures More Than $5M to Support Renewable Energy Projects

Oregon senators Ron Wyden and Jeff Merkley announced that the U.S. Department of Agriculture (USDA) is sending more than $2.1 million in Rural Energy for America Program (REAP) grants, and $3.1 million in a REAP loan, to support renewable energy projects in the state.

USDA Invests in New Jersey's Rural Communities to Lower Energy Costs, Create Jobs

U.S. Department of Agriculture (USDA) Rural Development State Director Jane Asselta announced three new energy grants funded in New Jersey for Fiscal Year 2024. The projects were funded under the Rural Energy for America Program (REAP), which helps agricultural producers and rural small business owners make energy efficiency improvements and renewable energy investments to lower energy costs, generate new income, and strengthen the resiliency of their operations.

Rural Georgia to Receive $3.1M in USDA Federal Grants

The U.S. Department of Agriculture (USDA) announced that the department is sending $3.1 million to farms and small businesses throughout rural parts of Georgia. In total, 24 Georgia farms and individuals will receive grant money from the program, the majority of whom are located in the state's 8th and 12th Congressional Districts.

We Want to Hear from You! Help Identify Financing Tools for Missing Middle Housing

This year's class of CDFA Franzini Fellows is researching the various financing tools available for missing middle housing, affordable housing, and in particular, pocket neighborhoods. The Fellows are interested in learning about housing financing tools, as well as barriers and solutions to access to capital. By taking just a few minutes to complete this survey, you will lend your experience and industry knowledge to aid in the creation of systems and action plans that can be used for both developers and new homeowners. Thank you for your participation!

Over $5.5M Awarded to Rural Energy Projects in South Carolina

The U.S. Department of Agriculture (USDA) is once again partnering with local farmers and small businesses across the U.S. to expand access to clean energy and lower energy bills through the agency's Rural Energy for America Program (REAP) and Rural Energy for America Technical Assistance Grant Program. In South Carolina, that means more than $5.5 million will be going to fund four projects in three counties that could eventually lower energy costs for surrounding homes and businesses.

USDA Rural Development Invests in Pennsylvania Rural Communities

U.S. Department of Agriculture (USDA) State Director for Rural Development Bob Morgan announced four additional projects being funded through the Rural Energy for America Program (REAP) for a total of $1.4 million. The projects are aimed at expanding access to clean energy and support rural small businesses and farmers to create jobs.

Join CDFA for Our Upcoming Intro Tax Credit Finance WebCourse

Register for CDFA's Intro Tax Credit Finance WebCourse, taking place on September 25-26. Join us in learning about the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs, including new markets, low-income housing, historic preservation, and state-specific programs.

Upcoming Events

2024 CDFA Equitable Lending Learning Series: Development Finance Data Collection and Measurement
September 4, 2024 - 1:00 PM - 3:00 PM Eastern

In this installment of the CDFA Equitable Lending Learning Series, presenters will share an overview of the current fintech landscape, followed by a discussion of best practices for collecting financial data and borrower demographics and implementing a successful impact measurement system.

CDFA-Bricker Graydon Webinar Series: Financing Green Energy with PACE and Special Assessments
September 10, 2024 - 2:00 PM - 4:00 PM Eastern

Communities are reinforcing tax increment financing (TIF) districts with special assessments and combining TIF with tax credits, tax-exempt bonds, subordinate loan programs, and other federal tools to channel funding toward improvements in distressed or underdeveloped areas. During this session, speakers will discuss the creative ways to use TIF and how to facilitate the successful financing of high-impact revitalization projects.

USDA Rural Development News

USDA and RFBC Announced Over $3.7M to Support Farm and Food Businesses

The U.S. Department of Agriculture (USDA) and Heartland Regional Food Business Center (RFBC) announced the availability of over $3.7 million in Business Builder Grants to support small, mid-sized, and diverse food and farm entrepreneurs. These grants will promote business expansion, job creation, business capacity building, and increase local products in the local market. The funding is available for projects in Iowa, Missouri, Kansas, Oklahoma, Nebraska, and northwest Arkansas.

USDA, Senator Booker Break Ground on $33M Water Project in South Jersey

Community Development | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance

The U.S. Department of Agriculture (USDA) Rural Development State Director Jane Asselta joined Downe Township Mayor Mike Rothman as they welcomed U.S. Senator Cory Booker and other key stakeholders to break ground on a $33 million wastewater treatment project in the Township of Downe, New Jersey. The project addresses significant community needs and was made possible through joint funding efforts including the State of New Jersey, USDA Rural Development, NJ Department of Environmental Protection, and NJ Infrastructure Bank.

Biden-Harris Administration Partners With Rural Utility to Bring Affordable Clean Energy to Rural Americans in Nebraska

Community Development | Energy Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

The U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA is moving forward in the awards process with a new clean energy project through the Powering Affordable Clean Energy (PACE) program. Secretary Vilsack announced that SE Municipal Solar LLC in Nebraska has been selected to move forward to receive nearly $30 million to build eight solar photovoltaic generation facilities totaling 18.72 megawatts.

Solar Projects on Salem, OR-Area Farms Get Federal Backing

Three Salem-area farms and a local community solar project have received nearly $4 million in federal loans and grants to support renewable energy investments. The investments are meant to help farmers, ranchers, and rural small businesses adopt renewable energy technologies, conduct energy audits, and cut down on costs and pollution. The largest chunk of money is a loan from the U.S. Department of Agriculture's Rural Development Rural Energy for America Program which is worth $3.2 million. Additional grants will help farms set up solar infrastructure replacing 100% of their energy use with renewable electricity.

>>> VIEW THE RURAL DEVELOPMENT FINANCE RESOURCE CENTER

Rural Development Finance News

The Council of Development Finance Agencies (CDFA) 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 www.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