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CDFA Revolving Loan Fund Finance Update - May 14, 2019

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Revolving Loan Funds Update
May 14, 2019
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Revolving Loan Fund Finance Update


EPA Announces Availability of $2.6B of Funding for Water Infrastructure
The U.S. EPA announced the availability of more than $1 billion in new federal grant funding for the Drinking Water State Revolving Fund and $1.6 billion in new federal grant funding for the Clean Water State Revolving Fund. The funds can assist states, tribes and territories with improving drinking water and wastewater infrastructure across the country.

Racine, WI Brewing Co. to Expand Wholesaling Thanks to RLF
Racine Brewing Co. will increase its wholesaling business much sooner than owners Andy and Angie Molina ever expected, pending the awarding of a requested $34,800 loan from the city. The new brewing system will be more efficient than their existing one and increase the volume of beer they can produce by about 40 percent, the Molinas estimate.

$8M in Supplemental Funds Made Available by EPA for Brownfields RLFs
The EPA approved $8 million in additional funds for fiscal year 2019 to supplement existing Brownfields RLF grantees who made a loan or subaward and have substantially depleted loan funds. While additional funds have been made available this fiscal year, those funds are supplemental funds for existing RLF grantees.

$84M in Green Bonds Issued for Drinking Water in CA
California State Treasurer Fiona Ma announced the sale of $83.9 million in revenue bonds to provide financial assistance to local governments for safe drinking water projects. The sale represents the inaugural issuance of bonds by the California IBank for the Drinking Water State Revolving Fund Program.

DJA Gets Grant to Study Loan Fund for Historic Buildings
The 1772 Foundation, a nonprofit organization that works to preserve historic structures, gave DJA $20,000 to hire Heritage Strategies and Heritage Consulting to examine whether a loan fund would help spur developments to preserve some of the many historic properties in Joplin. 

Food Hall Receives Loan from Economic Development RLF
City Council members approved subordinating $390,000 to convert a construction loan to permanent financing to help complete building a food hall in the Murrah Federal Building recovery area near downtown. The commercial property was appraised in February with an "as-is" market value of $5.8 million and an expected value of $6.3 million upon completion.

Fort Atkinson, WI Plans Closure of Revolving Loan Fund Program
To conform with state and federal oversight of the revolving loan fund program, the Fort Atkinson City Council has approved a closure process for the program. The State of Wisconsin, which administers the federal funds, is shutting down the RLF due to numerous problems through the years with meeting the requirements for the loan money.

Tuscaloosa, AL to Borrow $27M for Water Projects
The $27.12 million in loans obtained through the Alabama Department of Environmental Management's State Revolving Loan fund will be repaid over 20 years at an interest rate of 2.2 percent. The loans are divided among the Clean Water State Revolving Fund, which pertains to sewer-related projects, and the Drinking Water State Revolving Fund, which funds drinking water work.

Upcoming Events
CDFA Summer School

Intro Housing Finance WebCourse
May 22-23, 2019 - 12:00 - 5:00 PM Eastern


WI Receives $61M for Water Improvements
WPR | May. 13 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

Housing Brief: Youth Propose Community Land Trust
Next City | May. 10 | Bond Finance | Community Development | Housing Finance | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | Tax Credits

St. Johnsbury, VT Awarded $35K to Create Trailhead Center
Vermont Biz | May. 10 | Brownfield Financing | Redevelopment | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Cape Cod Voters Asked to Spend $47M on Water Improvements
Cape Cod Times | May. 9 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

State of IA Awards $23M in Water Quality Loans to 18 Communities
Des Moines Register | May. 9 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Brady, TX Receives $14.6M for Wastewater Improvements
Go San Angelo | May. 9 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

TX Gives Aid for Hurricane Harvey Recovery
Beaumont Enterprise | May. 9 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Water Finance

TX County Receives $3M for Water System Improvements
Beaumont Enterprise | Apr. 10 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

NJEDA Expands Brownfields Loan Program to Support Revitalization of Properties
NJEDA | Apr. 9 | Brownfield Financing | Member News | Redevelopment | Revolving Loan Funds (RLFs)

IA Legislature Proposes $50M Disaster Relief Package
Waterloo-Cedar Falls Courier | Apr. 3 | Disaster Recovery & Relief | Revolving Loan Funds (RLFs)

Green Label Backs Retail Push on IL Revolving Fund Deal
The Bond Buyer | Apr. 1 | Bond Finance | Green Finance | Member News | Revolving Loan Funds (RLFs)

VT House Passes Bill to Create Broadband RLF
WCAX 3 | Mar. 27 | Access to Capital | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs)

Proposed Bill Would Provide Diverse RLF to SE MN
KAAL | Mar. 25 | Community Development | Revolving Loan Funds (RLFs) | Housing Finance

City of Goshen, IN Creates Loan Fund for Polluted Properties
Goshen News | Mar. 21 | Brownfield Financing | Revolving Loan Funds (RLFs)

Redevelopment Authority's Loan Fund Helps Harborcreek, PA Business Expand
Erie News Now | Mar. 15 | Access to Capital | Revolving Loan Funds (RLFs)

AK's Ag Industry Frets Over End to Loan Budget
AK Journal of Commerce | Mar. 14 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

New Additions to the Online Resource Database

Building Resiliency Through Green Infrastructure
Bond Finance | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
Cities have recently integrated more green infrastructure strategies into their climate resiliency planning. Creating climate-resilient cities takes more than a series of infrastructure investments; more than sea walls and permeable pavement. It takes investment in people. Those most vulnerable to the effects of climate change are those without living wages or access to political power—very often communities of color.

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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