This week, the U.S. Department of the Treasury issued guidance and application materials for eligible state and local governments that can apply for the newly created $150 billion Coronavirus Relief Fund, established through the CARES Act. Funding is available to help governments navigate the impact of the COVID-19 outbreak. Funds can be used for expenses incurred between March 20, 2020 and December 30, 2020.

All states, as well as local governments with a population of 500,000 or more, are eligible to apply for funding. Governments must submit completed applications no later than 11:59 PM EDT on April 17, 2020.

>>>View List of Eligible Units of Local Government
>>>View Coronavirus Relief Fund Application

During the April 10, 2020 Weekly COVID-19 Development Finance Briefing, Bruce Katz from Drexel University, Rachel Reilly from the Economic Innovation Group, and Katie Kramer from CDFA examined relief efforts run by local governments, philanthropic organizations, chambers, and other local entities to support main street.

During this Legislative Briefing, we discussed the latest information about the next stimulus act (Phase 4) from Congress and the urgent actions development finance agencies should take. We examined legislative reactions to the CARES Act, what we expect in Stimulus 4 provisions, legislative actions on tax-exempt bonds and small business access to capital, and more.

CDFA is launching a weekly newsletter covering how development finance is addressing disaster relief and recovery with a special focus on the COVID-19 pandemic. Subscribe now to this free offering from CDFA to keep receiving this content in the future!