Technical Assistance


CDFA Rural Development Finance Update - October 18, 2022

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Rural Development Finance Update
October 18, 2022
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Rural Development Finance Update


Experts Discuss Financing Innovative Food Systems Infrastructure In-Person!
Investment in innovative technology and physical food systems infrastructure is essential to increase capacity in local food economies. Join us at the CDFA National Development Finance Summit, Presented by CHFA, in Denver, CO on Thursday, November 3 for a session on financing opportunities for reinvesting in local food and supporting innovative infrastructure.

$8.28B Available for Investments in Community Development Financial and Minority Depository Institutions
The Department of the Treasury has made over $8.28 billion of investments in 162 community financial institutions across the country through the Emergency Capital Investment Program. These funds will support the efforts of community financial institutions to provide loans, grants, and other assistance to small and minority-owned businesses and consumers, especially in low-income and financially underserved communities that struggled during the COVID-19 crisis.

Learn More About Tools for Rural Communities from USDA!
Join CDFA for the next installment of the Federal Financing Webinar Series with USDA on October 25. Speakers will discuss programs that can help with projects in your community such as constructing or improving facilities to provide broadband service, creating and maintaining jobs in rural communities, reducing poverty in rural communities, creating business plans and feasibility studies, and forming rural business incubators.

Biden-Harris Administration Announces $502M for High-Speed Internet in Rural Communities
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that the Department is awarding $502 million in loans and grants to provide high-speed internet access for rural residents and businesses in 20 states. The funding is part of the Biden-Harris Administration's commitment to investing in rural infrastructure and providing reliable, affordable, high-speed internet for all.

USDA Announces More Than $71M to Support Underserved Communities
The U.S. Department of Agriculture (USDA) announced a more than $71M investment to help underserved communities. Funding is made possible through two key USDA programs: USDA's 2501 Program and the American Rescue Plan Technical Assistance Investment Program. These investments are part of USDA's commitment to take aggressive action to advance equity for all, especially for farmers and producers in underserved communities.

$37M Invested to Improve Recreational Sites and Cabins by USDA
The U.S. Department of Agriculture's Forest Service announced more than $37M to improve vital recreation infrastructure located on national forests and grasslands. These investments are made possible by President Biden's Bipartisan Infrastructure Law, which devotes unprecedented resources to rural infrastructure improvements, including repairs on national forest lands. 

USDA Accepting Applications for $1B High-Speed Internet Program in Rural Minnesota
U.S. Department of Agriculture (USDA) Rural Development State Director for Minnesota Collen Landkamer announced that the Department is accepting applications for ReConnect Program loans and grants to expand access to high-speed internet for millions of people in rural Minnesota.

Upcoming Events
CDFA National Development Finance Summit

CDFA Federal Financing Webinar Series: Tools for Rural Communities from USDA
Tuesday, October 25, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the U.S. Department of Agriculture for financing broadband, food systems, healthy food access, and small businesses – all with a focus on rural areas.

CDFA // BNY Mellon Development Finance Webcast Series: Funding Childcare Facilities
Tuesday, November 15, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA// BNY Mellon Development Finance Webcast Series, presenters will look across the development finance spectrum for ways to invest in child care facilities with tools like bonds, RLFs, tax credits, and more. Experts will also highlight various case studies that have successfully utilized these tools.

USDA Rural Development News

$10M Grant Billed as ‘Largest' in Starr County, TX to Address Water
A $10M grant has been awarded to improve Rio Grande City's water supply and treatment thanks to funding from the U.S. Department of Agriculture. The grant will help colonias in Starr County by funding the construction and installation of various systems. 

Louisiana Rural Healthcare Organizations Get $4M in Funding
U.S. Senator Bill Cassidy, M.D. (R-LA) has announced that the U.S. Department of Agriculture will provide Louisiana with over $4 million in relief funds to help build and renovate rural healthcare facilities across the state.

USDA Invests $110M to Improve Health Care for Rural People in 43 States and Guam
The U.S. Department of Agriculture announced that it is awarding $110M in grants to improve health care facilities in rural towns across the country. These grants will help 208 rural health care organizations expand critical services for nearly 5M people in 43 states and Guam.

Up to $20M for Construction of Grain Storage Facilities Impacted by Natural Disasters
The U.S. Department of Agriculture will make available $20M in cost-share assistance to help agricultural producers in Kentucky, Minnesota, South Dakota, and surrounding areas to rebuild storage facilities damaged by devastating natural disaster events in 2021 and 2022.

USDA Rural Program Provides $360K in Loans to Beatrice Community Hospital
Beatrice, Nebraska elected officials have approved a resolution for a loan to help Beatrice Community Hospital upgrade technology. The city council has approved a rural economic development loan agreement for $360,000 to help the hospital purchase telemetry monitors.

USDA Rural Development Grant Expands Broadband in Oregon
Oregon Telephone Co. has been awarded $20.4M in grants and loans to install fiber optic infrastructure in Grant, Malheur and Baker counties. The latest round of federal money will provide high-speed fiber connections directly to 1,200 people, 41 businesses, 70 farms and four educational facilities as part of the ReConnect Program, using funding from the recent Bipartisan Infrastructure Law.

Rural Development Finance News

Governor Laura Kelly Announces Record Interest in Rural Housing Development in Kansas
KRSL | Oct. 17 | Housing Finance | Legislative | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits

Gov. Wolf Announces $6.9M to Support Economic Development, Opportunities of Pennsylvania's Coal-Impacted Communities
Governor.PA | Oct. 17 | Community Development | Economic Development | Rural Development

Arkansas Officials Create Grain Bin Rescue Unit
Delta FarmPress | Oct. 17 | Agriculture Finance | Rural Development

Federal Agencies Take New Steps to Boost Affordable Housing
Multi-Housing News | Oct. 10 | Community Development | Federal | Housing Finance | Rural Development | Tax Credits | U.S. Dept. of Treasury

Biden-Harris Administration Announces Progress in Implementing Its Housing Supply Action Plan
The White House | Oct. 7 | Federal | Housing Finance | Rural Development | Tax Credits

EPA Awards $6.4M to National Water Reuse Research
Water World | Oct. 7 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | Rural Development | U.S. Environmental Protection Agency (EPA) | Water Finance | Understanding Access to Capital | Water Finance | EPA Case Studies

For Farm Bill, AG Groups Say, ‘We Want Some More'
Successful Farming | Oct. 6 | Access to Capital | Agriculture Finance | Federal | Rural Development

Invest in Small Farmers or World Will Face Regular Food Crises
The Guardian | Oct. 6 | Access to Capital | Agriculture Finance | Food Systems Finance | Rural Development

EDA Announced 51 "Build to Scale" Grants for Innovation and Tech-Based Development
EDA | Oct. 5 | Access to Capital | Development Finance Toolbox | Federal | Rural Development | U.S. Economic Development Administration (EDA) | Case Studies

U.S. Department of Transportation Expands Its Financing Program to Help More Infrastructure Projects Move Forward
U.S Department of Transportation | Oct. 4 | Infrastructure Finance | Rural Development | U.S. Dept. of Transportation (DOT)

Opportunity Zone Completes Eastern North Carolina's Most Innovative Grain Bin System
yahoo! | Sep. 29 | Access to Capital | Agriculture Finance | Opportunity Zones | Rural Development

USDA Gives Montana $8.5M in Funding for High-Speed Internet
NBC Montana | Sep. 29 | Access to Capital | Economic Development | Federal | Infrastructure Finance | Rural Development | Understanding Access to Capital | Broadband | Case Studies

Alaska to Receive Over $14M for Recreation Infrastructure
Office of Sen. Murkowski | Sep. 26 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Rural Development | Case Studies | Case Studies

Grappone, NH Receives $18M New Markets Tax Credit to Build New Facility
NH Business Review | Sep. 22 | Community Development | Economic Development | Education | Redevelopment | Rural Development | Tax Credits

Owasso, OK ‘Agrihood' Earns National Award from Affordable Housing Tax Credit Coalition
Owasso Reporter | Sep. 21 | Community Development | Housing Finance | Rural Development | Tax Credits | Urban Development

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


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