Technical Assistance


CDFA Rural Development Finance Update - March 21, 2023

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Rural Development Finance Update
March 21, 2023
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Rural Development Finance Update


Register Today for the 2023 Federal Policy Conference!
Reserve your spot at the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and the National Development Council, will bring together leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the development finance challenges that state and local governments continue to face. Space is limited; act fast!

Over $127M Awarded to Rural Indiana Communities for Infrastructure Projects
The Indiana Department of Transportation (INDOT) announced that $127.6 million in federal transportation funding is being awarded to 38 cities, towns, and counties across rural Indiana to invest in local road and bridge improvements, as well as sidewalk and trail projects.

CDFA is Excited to Share a New Croatan Institute Report - Soil Wealth Areas
CDFA was honored to serve on the advisory group for a new report - Soil Wealth Areas: Place-based Financing for Conservation, Rural Communities, and Regenerative Agriculture - a new model for special purpose financing districts that can facilitate more investment in regenerative agriculture, enhance conservation, and support resilient rural economies. Congratulations to Croatan Institute on this important project!

Illinois Climate Bank Announces over $250M in Climate Finance Achieved in First Year
The Illinois Finance Authority, in its role as the State Climate Bank, announced a landmark year of deploying over $250 million in private capital to further clean and sustainable development projects. The IFA Climate Bank is holding public hearings and stakeholder meetings as it crafts applications for up to $1.3 billion in federal funds to advance clean energy, climate, and equity goals as outlined by Illinois' Climate and Equitable Jobs Act through climate finance and program deployment.

New Federal Financing Announced for Nonprofits In Nebraska, Meat Processors
Kate Bolz, U.S. Department of Agriculture Nebraska state director, announced that the Biden-Harris administration is investing $30 million in Nebraska to finance the startup and expansion of independent meat processors. Two Nebraska nonprofits, the Center for Rural Affairs and the Nebraska Enterprise Fund, each will receive $15 million to establish a revolving loan fund to finance the startup, expansion, and operation of meat and poultry processors.

Oregon Legislature Supports $200M for Housing, Homelessness
The state has signaled its support for allocating an additional $70 million to Governor Tina Kotek's initial request for emergency funds to help move residents off the streets and keep them housed. On her first day in office, Governor Kotek declared a homelessness state of emergency and called for $130 million to quickly move Oregonians off the streets or keep them housed.

Northwood, ND Receives $25M USDA Loan for Hospital
A $34 million health center addition and renovation project in Northwood, ND will get federal help after the U.S. Department of Agriculture (USDA) Rural Development announced a $25 million loan for Northwood Deaconess Health Center. The loan comes from USDA Rural Development's Community Facilities Program, which provides affordable funding to develop community facilities in rural areas. 

Airports, EVs, Roads, Buses & More: $1.7B in Infrastructure Dollars Pour Into Idaho
It's been over a year since Congress passed the Bipartisan Infrastructure Act, and the funds have started flowing into Idaho - which stands to receive $1.7 billion for new and existing projects.

Upcoming Events
2023 CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: Utilizing TIF with Brownfield Redevelopment Projects
April 18, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, TIF experts will introduce this financing tool and explore new strategies that local governments are employing to bring investment to otherwise unusable spaces.

CDFA Food Systems Finance Webinar Series: Access to Capital Tools & Food Systems
April 25, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how these tools can be used in strengthening local and regional food systems and address some of the challenges that come with financing this sector.

USDA Rural Development News

USDA Awards More than $2.3M in Grants to Support 17 Montana Ag Producers
The U.S. Department of Agriculture (USDA) awarded more than $2.3 million in grants to support Montana agriculture. Seventeen producers across the state received the funds through the USDA Rural Development's Value-Added Producer Grant Program, which helps businesses generate new products and create and expand marketing opportunities.

USDA Rural Development Makes $50M Loan to AR Valley Electric Cooperative
United States Department of Agriculture (USDA) State of Oklahoma Rural Development Director Kenneth Corn went across the Arkansas border to make a $50-million loan to Arkansas Valley Electric Cooperative. The loan will help Arkansas Valley Electric Cooperative continue to improve electricity and broadband for its customers, some of whom live in LeFlore and Sequoyah counties.

USDA Offering Money to Preserve Illinois Farms and Create Wetlands
The U.S. Department of Agriculture (USDA) is offering money to farmers who want to keep their land agricultural or turn flood-prone fields into wetlands. The program's purpose is to preserve farmland and recreate wetlands. The easement prices range from $3,150 per acre for wetland easements in southern Illinois to $7,560 for cropland easements in the Chicago region including LaSalle County.

Rural Development Finance News

$5B Proposed Bill Could Help Bring Better Internet to Rural Texas Areas
KETK.com | Mar. 21 | Infrastructure Finance | Rural Development

Congress Considers Family Farm and Small Business FAFSA Exemption
Inside Higher ED | Mar. 21 | Agriculture Finance | Economic Development | Federal | Rural Development

St. Vincent de Paul of Lane County, OR Receives $150K Grant From KeyBank
Yahoo! Finance | Mar. 20 | Housing Finance | Rural Development

Tractor Supply Raises Over $1M to Support Grants for Growing Program
Yahoo!Finance | Mar. 20 | Agriculture Finance | Rural Development

Governors Push Faster Construction to Meet Housing Needs
Pew | Mar. 20 | Federal | Housing Finance | Rural Development | State Finance Program

Legislature Approves $20M for Kentucky Housing in Disaster Zones
Commonwealth Journal | Mar. 20 | Federal | Housing Finance | Legislative | Rural Development

Minnesota Marijuana Legalization Bill Advances Through Another Senate Committee
Schedule 6 Foundation | Mar. 17 | Cannabis Finance | Legislative | Rural Development

Rural Development Partners Helps Crown Equipment Bring Jobs to America
Cision | Mar. 15 | Economic Development | Rural Development | Tax Credits

Gering City Council Votes to Support Western Nebraska Rural Workforce Housing Fund
Star Herald | Mar. 14 | Economic Development | Housing Finance | Rural Development

LIHTC Extolled as Necessary Tools to Address Affordable Housing Supply Gap
NOVOGRADAC | Mar. 10 | Federal | Housing Finance | Rural Development | Tax Credits

White House Budget Proposal Includes $175B for Affordable Housing
American City and County | Mar. 10 | Housing Finance | Legislative | Rural Development

Governor's Budget Spurs Innovation, Grows Future of Pennsylvania Agriculture
Pennsylvania Pressroom | Mar. 9 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | Resiliency | Rural Development | Social Finance | State Finance Program

U.S. Treasury Approves South Carolina for Broadband Projects under Capital Projects Fund
U.S. Department of the Treasury | Mar. 7 | Access to Capital | Development Finance Toolbox | Infrastructure Finance | Legislative | Rural Development | U.S. Dept. of Treasury | Broadband | Legislative Activities

Rural New York Development Receives Funding
Affordable Housing Finance | Mar. 1 | Agriculture Finance | Community Development | Federal | Housing Finance | Redevelopment | Rural Development | Tax Credits

Kentucky Economic Development Cabinet to Bring More Businesses to Rural Communities
WKMS | Mar. 1 | Economic Development | Rural Development

CDFA Resources

Soil Wealth Areas: Place-based Financing for Conservation, Rural Communities & Regen Ag
Access to Capital | Agriculture Finance | Bond Finance | Community Development | Crowdfunding | Energy Finance | Federal | Food Systems Finance | Foundations | Green Finance | Innovation Finance | Legislative | Property Assessed Clean Energy (PACE) | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance | Special Assessment Districts | State Finance Program | Tax Credits
A new report from Croatan Institute highlights how the Soil Wealth Area model can facilitate more investment in regenerative agriculture, enhance conservation, and support resilient rural economies. The report provides specific recommendations for implementing Soil Wealth Areas in each of the regions analyzed and creating a wider Soil Wealth Community for practitioners to share learnings about their experiences with place-based financing.

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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