Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.

After receiving approximately $14 million in funding in 2023, the U.S. Virgin Islands Energy Office (VIEO) is anticipating even more federal support for solving the territory's energy woes. Up to $150 million in Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) 2024 funding has been announced for the VIEO, which it will use for the deployment of microgrids, residential and community solar generation, and energy storage capacity.

The Miami-Dade County, FL Department of Transportation and Public Works (DTPW) has been awarded a $16.2 million Implementation Grant under the Safe Streets and Roads for All (SS4A) program, administered by the U.S. Department of Transportation. This grant will support the "Advancing Transportation Equity Through Vision Zero in Miami-Dade County" project, which will enhance road safety and reduce traffic fatalities.

The Port of New Orleans (Port NOLA) will receive $73.8 million from the U.S. Department of Transportation to assist in building the Louisiana International Terminal (LIT) project, which will provide an efficient gateway for the movement of cargo on the Mississippi River and the inland waterways of the United States. Funding was made possible by the Bipartisan Infrastructure Law.

The U.S. Department of Housing and Urban Development (HUD) announced $173.9 million in new loans and grants under the Green and Resilient Retrofit Program's Comprehensive and Elements categories, which is funded under the Inflation Reduction Act. The awards will support energy efficiency, electrification, clean energy, low embodied carbon materials, and climate resilience improvements in 30 HUD-assisted multifamily properties for low-income individuals and families.

Pittsburgh, PA will receive $142.3 million from the U.S. Department of Transportation to make major safety improvements to the I-376 (Parkway East) and the Martin Luther King Jr. East Busway, including the flood-prone "Bathtub" downtown. Funding was made available by the Infrastructure Investment and Jobs Act.

The New Jersey Economic Development Authority (NJEDA) approved the creation of the Atlantic City Revitalization Grant Program – a $20 million pilot designed to fund capital projects. The initiative will use American Rescue Plan State and Local Fiscal Recovery Funds and be open to for-profit and nonprofit entities that oversee real estate development projects. Eligible projects must address a negative impact of the pandemic while contributing to AC's revitalization.

The U.S. Department of Transportation announced that it has awarded $645.3 million from the Rural Surface Transportation Grant Program to help communities around the United States complete transportation projects that will increase mobility, improve safety, and generate regional economic growth in rural areas. This is the second year for the Program, which invests a total of approximately $2 billion through 2026 under the Bipartisan Infrastructure Law.

The U.S. Department of the Treasury has approved $22.5 million in federal funding to be invested in the Whitman-Walker Max Robinson Center in Washington, D.C. This investment is drawn from the American Rescue Plan's Capital Projects Fund and will support the continued expansion and development of the new Max Robinson Center, which provides critical health care services to the Ward 8 community, with a unique focus on LGBTQ health and HIV care.

The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.

The Choctaw Nation, College of the Muscogee Nation, and the Cherokee Nation are receiving grants for internet connectivity, education access, and tribal language preservation. The grants are through the U. S. Department of Agriculture (USDA) Rural Development, and most of the money is going to the Choctaw Nation, which got two grants. The Nation received $22.3 million to install high-speed internet through the Nation and $558,000 for Choctaw language courses.

The U.S. Department of Transportation announced that its Build America Bureau provided a $88.3 million loan to the Louisiana State Bond Commission for the benefit of the Louisiana Department of Transportation and Development to build the LA 415 Connector, a new link between LA 1 and LA 415 at Interstate 10 in Baton Rouge Parish through a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan program. 

The Interstate Bridge Replacement program has been awarded $600 million in U.S. Department of Transportation Mega Program funding. It will help construct the multimodal program to replace the Interstate Bridge and associated corridor improvements. The Interstate Bridge over the Columbia River connects Oregon and Washington on Interstate 5 - a critical connection that supports local jobs and families, and a vital trade route for regional, national, and international economies.

The White House has committed to honor the United States' obligations to Tribal Nations and protect and restore America's natural wonders, while also recognizing the benefits that the Columbia River System provides to communities and businesses throughout the region. The agreement, when combined with other anticipated funding, will bring more than $1 billion in new Federal investments to wild fish restoration in the Columbia River Basin and facilitate the build-out of at least one to three gigawatts of tribal-sponsored clean energy production.  

The U.S. Small Business Administration (SBA) delivered $50 billion in capital, disaster relief, and bonding to small businesses and disaster-impacted communities in Fiscal Year 2023 (FY23). The SBA experienced increases in its microloan program, as well as its 7(a) Loan Program. Additionally, it advanced equity with significant increases in lending to Black, Latino, Asian American, Pacific Islander and Native Hawaiian, Native American, women, and veteran small business owners.

The U.S. Economic Development Administration (EDA) released an impact report for 2023, highlighting its efforts over the year. EDA's efforts in 2023 resulted in approximately $403 million of federal investment in 584 projects, which are expected to support more than 27,000 quality jobs, and nearly $8.5 billion in private investment.

President Biden will sign an executive order aimed at making it easier for tribal communities to access federal funding by overhauling the mechanism for the federal government's support of Tribal Nations. The order is meant to remedy past federal policies that they described as "attacks on Native people's basic rights to self-governance."