CDFA Legislative and Federal Affairs Update - March 7, 2023

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Legislative and Federal Affairs Update March 7, 2023	Subscribe View Archives

Legislative Features

Coming Up Next Week: CDFA's Intro and Advanced Bond Finance Courses!

Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance Course will take place on March 13-14 followed by the Advanced Bond Finance Course on March 15-16. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

Treasury Deputy Secretary Highlights American Rescue Plan with Tribal Nations

Deputy Secretary of the Treasury Wally Adeyemo visited two Tribal nations in southern California--the Agua Caliente Tribe, and the Torres Martinez Tribe--and witnessed first-hand the impact American Rescue Plan Act resources are having on Tribal Nations. The American Rescue Plan included $30 billion in funding for Tribal nations to help them recover from the pandemic and invest in long-term community development.

U.S Treasury Announces Three More Capital Project Awards

The U.S. Department of the Treasury announced the approval of high-speed internet projects in Arizona, Tennessee, and Wyoming under the American Rescue Plan's Capital Projects Fund in the American Rescue Plan Act. These states will use their funding to connect nearly 190,000 homes and businesses to affordable, high-speed internet. A key priority of the Capital Projects Fund program is to make funding available for reliable, affordable high-speed internet infrastructure.

USDA Invests $63M in High-Speed Internet for Rural Americans

The U.S. Department of Agriculture (USDA) is investing $63 million to bring high-speed internet access to people living and working in rural areas in Illinois, Michigan, Minnesota, and Mississippi. The investments include funding from the Bipartisan Infrastructure Law, which provides $65 billion to expand reliable, affordable, high-speed internet to all communities across the U.S., and the ReConnect Program, in which USDA invested a total of $1.7 billion.

USDA Announces $133M in Funding to Expand Local Food Systems

The USDA is now accepting applications for the Local Agriculture Market Program (LAMP), with a total of $133 million available in competitive grant funds to expand and strengthen local and regional food systems and increase the availability of locally grown agricultural products. The funding available for this year's program includes $65 million in supplemental funding from the American Rescue Plan, funds under the 2018 Farm Bill, and annual appropriations.

$262M to Rural Partners Network for Jobs Access, Healthcare, and Infrastructure

The U.S. Department of Agriculture (USDA) is providing $262 million to improve access to jobs, healthcare, and infrastructure for historically underserved communities across the Rural Partners Network (RPN), which was established to transform the way federal agencies partner with and serve rural people and places, including Native American communities. RPN includes funding from the American Rescue Plan Act, the Bipartisan Infrastructure Law, and the Inflation Reduction Act.

EPA Announces Initial Program Design of Greenhouse Gas Reduction Fund

The U.S. Environmental Protection Agency (EPA) announced initial guidance on the design of the Greenhouse Gas Reduction Fund program, created by President Biden's Inflation Reduction Act. EPA published two Federal Assistance Listings outlining key parameters of the grant competitions that will ultimately award nearly $27 billion to leverage private capital for clean energy and clean air investments across the country.

Guidance on Qualifying Advanced Energy Project Credit Program Released

The U.S. Treasury Department and the U.S. Department of Energy released information on the expanded Qualifying Advanced Energy Project Credit program. This program renews and expands an investment tax credit initially included in the American Recovery and Reinvestment Act of 2009, and provides incentives for clean energy property manufacturing and recycling, industrial decarbonization, and critical materials processing, refining, and recycling.

Guidance on Low-Income Communities Bonus Credit Program Released

The U.S. Treasury Department and the U.S. Department of Energy released guidance on the Low-Income Communities Bonus Credit Program. This program in the Inflation Reduction Act provides a boost of up to 20 percentage points to the investment tax credit for solar and wind energy projects in low-income communities. The notice outlines the program goals benefitting individuals and communities that have experienced adverse environmental impacts or lacked economic opportunities.

DOT Announces $660M Available Through Port Infrastructure Development Program

The U.S. Department of Transportation's Maritime Administration announced a Notice of Funding Opportunity making available more than $662 million for MARAD's Port Infrastructure Development Program (PIDP). The PIDP investment will modernize our nation's ports and help strengthen our supply chains, helping to reduce shipping time, costs, and the costs of goods for the American people.

Upcoming Events

CDFA-Bricker Webinar Series: Current Landscape of Public Incentives and Financing Options for Green & Sustainable Assets
March 7, 2023 - 2:00 PM - 4:00 PM Eastern

This installment of the CDFA-Bricker Webinar Series will provide an overview of public incentives and financing programs being developed with the passage of the Bipartisan Infrastructure Legislation and Inflation Reduction Act, along with existing programs - such as PACE financing - that drive investments in sustainable building systems and other energy assets.

CDFA Tribal Finance Webinar Series: Tribal Community-Driven Economic Development Solutions
March 14, 2023 - 2:00 PM - 3:30 PM Eastern

During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss how tribal governments and their partner organizations are working collaboratively to drive sustainable economic development.

Federal Features

Join experts from federal departments and agencies on Tuesday, April 11, 2023 at CDFA's Federal Policy Conference in Washington, D.C. where we will discuss how economic development and infrastructure projects can be financed in your community. These experts will highlight the financing and funding tools available to support community projects and discuss best practices to identify, successfully apply for, and administer federal grants. Don't miss out!

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.

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.

$7.5M Available for New Market Opportunities for Food and Agricultural Products

The U.S. Department of Agriculture (USDA) announced the availability of $7.5 million through the Acer Access and Development Program and the Federal-State Marketing Improvement Program and is accepting applications through USDA's Agricultural Marketing Service. These competitive grant programs fund projects that strengthen and explore new market opportunities for U.S. food and agricultural products.

USDA Makes $250M Available for New Rice Production Program

A total of $250 million is being made available through the U.S. Department of Agriculture's (USDA) new Rice Production Program. Rice farmers that endured losses in 2022 will be eligible for assistance and are encouraged to prepare to apply for funding support. The application portal will not officially open for several weeks, but USDA is taking preemptive action to simplify the process.

New Funding and Financial Services for Underserved Communities from U.S. Treasury

The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded $194 million in financial assistance awards to 252 CDFIs through the Community Development Financial Institutions Program and Native American CDFI Assistance Program. These awards will allow CDFIs to build on their capacity and expand lending and investment activity in underserved communities.

USDA Invests $15M into Rural North Carolina Academy

Members of the U.S. Department of Agriculture (USDA) Rural Development North Carolina team, along with federal and local officials, participated in a groundbreaking ceremony at Pinnacle Classic Academy. USDA Rural Development is investing $15 million in the building as an addition to the school facility in Shelby through the USDA Rural Development Community Facility Loans and Grants Program.

HUD Announces $3.2B Available for Public Housing

The U.S. Department of Housing and Urban Development (HUD) awarded $3.2 billion in funding to nearly 2,770 public housing authorities (PHAs) in all 50 states, as well as the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands to make capital investments to their public housing stock. Grants are awarded for dedicated housing to public housing residents to make sure they have secure adequate housing.

Federal Financing Clearinghouse Spotlight

CDFA's Federal Financing Clearinghouse is the only online resource cataloging the development finance programs offered by the federal government. Check out our featured agencies and programs below. >>> Learn More

U.S. Dept. of Homeland Security (DHS)

Building Resilient Infrastructure and Communities (BRIC)

The Federal Emergency Management Agency (FEMA) makes federal funds available through the new Building Resilient Infrastructures and Communities (BRIC) grant program to states, local communities,...

U.S. Dept. of Housing & Urban Development (HUD)

CDBG HUD Administered Non-Entitled Counties in Hawaii Program

HUD's Honolulu Field Office directly administers the CDBG program for non-entitlement areas in the State of Hawaii.

U.S. Dept. of Justice (DOJ)

Office on Violence Against Women Grant Programs

The Office on Violence Against Women (OVW) provides Federal leadership to reduce violence against women, and to support the administration of justice for and strengthen services to all victims of...

U.S. Dept. of the Interior (DOI)

Land and Water Conservation Fund

The LWCF program is intended to create and maintain a nationwide legacy of high quality recreation areas and facilities and to stimulate non-federal investments in the protection and maintenance of...

Legislative and Federal Headlines

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New Additions to the Online Resource Database

Treasury Announces Approval of up to $339M to Support Small Business across Three States and Two U.S. Territories
Access to Capital | Economic Development | Federal | State Finance Program | State Small Business Credit Initiative (SSBCI)

Treasury announces approval of up to $339 million to support small business success across three states and two U.S. Territories. These SSBCI Initiative funds are awarded to Arkansas, Guam, Rhode Island, the U.S. Virgin Islands, and Wisconsin to support local small business financing and investment programs

2023 CDFA Policy Proposal - Disaster Recovery Bonds
Access to Capital | Bond Finance | Disaster Recovery & Relief | Infrastructure Finance | Legislative

The CDFA Disaster Recovery Bonds Policy Proposal outlines the CDFA national legislative proposal for a special, permanent category of Disaster Recovery Bonds.

To help local policymakers, leaders, advocates, researchers, and others understand policy options for communities seeking to increase access to healthy food, the Healthy Food Policy Project (HFPP) developed a framework to show how local law—including legislation, administrative regulations, and executive orders—can promote access to healthy food at various points along the food system. This framework also highlights planning documents such as comprehensive plans and sustainability plans which are often used to guide development and evaluation of local laws and other efforts.

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The Council of Development Finance Agencies 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 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