Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. 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.

The House passed a sweeping, bipartisan tax bill that would expand the child tax credit for American families and reinstate some tax cuts for businesses. The package would also increase the amount of federal money that states can receive to encourage the development of low-income housing, authorizing a 12.5% increase for the federal Low-Income Housing Tax Credit (LIHTC), which was originally meant to subsidize up to 70% of construction.

The U.S. Department of Transportation (DOT) announced more than $4.9 billion in funding for 37 projects through the National Infrastructure Project Assistance (Mega) grant program and the Infrastructure for Rebuilding America (INFRA) grant program. Two projects received awards from both programs, following through on DOT's commitment to invest in non-traditional, multimodal projects that have been neglected because of complications around how to fund them.

The U.S. Department of the Treasury announced more than $228 million for high-speed internet projects in New York under the American Rescue Plan's Capital Projects Fund (CPF). The award will fund New York's Municipal Infrastructure Program (MIP), a competitive grant program designed to fund local governments and internet service providers to build last-mile broadband infrastructure to tens of thousands of locations.

The U.S. Department of Transportation (DOT) awarded the Minnesota and Wisconsin transportation departments a $1 billion grant to assist in reconstructing the Blatnik Bridge that connects Duluth, MN and Superior, WI over the St. Louis Bay. The state legislatures have each committed $400 million for the project, totaling $1.8 billion.

The U.S. Department of Transportation (DOT) awarded a $95 million grant to the state of Arizona to widen I-10 through Tucson. The grant was awarded to improve the safety and conditions on the 26-mile stretch of I-10 within the boundaries of the Gila River Indian Community. The total estimated project cost is approximately $1 billion.

The Port of New Orleans, LA will receive $226.2 million for the Louisiana International Terminal Project in St. Bernard Parish from the Infrastructure Investment and Jobs Act (IIJA). This investment in a new container terminal is the U.S. Department of Transportation's (DOT) history and the third largest INFRA Grant Award for this round. The project will construct a new container terminal on the Gulf Coast for the Port of New Orleans that is not air-draft restricted.

The U.S. Department of the Treasury approved $82.2 million for high-speed internet projects in North Carolina under the American Rescue Plan's Capital Projects Fund (CPF), which will connect approximately 16,000 homes and businesses to affordable, high-speed internet. This will fund the Broadband Stop Gap Solutions Program to extend high-speed internet service to reach individual or small pockets of households or businesses that have not been reached through prior federal investments. 

The U.S. Department of Energy (DOE) announced $104 million for energy conservation and clean energy projects at 31 Federal facilities under the Assisting Federal Facilities with Energy Conservation Technologies (AFFECT) program. This is the first of three disbursements from the historic $250 million in funding for the program in the Bipartisan Infrastructure Law. 

The U.S. Environmental Protection Agency (EPA) announced nearly $1 billion for school districts to replace diesel buses with cleaner versions, including electric buses. The grants are aimed at protecting kids from harmful air pollution while curbing the greenhouse gas emissions that are warming the planet. The money comes from the Bipartisan Infrastructure Law, which authorized a total of $5 billion for cleaner school buses.

CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

The U.S. Department of Transportation (DOT) announced a $31.4 million Railroad Rehabilitation and Improvement Financing (RRIF) loan to the Sierra Northern Railway (SNR) and Mendocino Railway (MRY) to expand and rehabilitate rail infrastructure in the Central Valley and Mendocino County, CA.

The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!

The U.S. Department of Transportation (DOT) approved $2.5 billion in private activity bonds authority allocated for the Brightline West High-Speed Intercity Passenger Rail project connecting Las Vegas, NV and Southern California. The 218-mile, high-speed rail line will primarily run along the I-15 median. Brightline West's $12 billion high-speed rail project will be a fully electric, zero-emission system to become one of the greenest forms of transportation in the U.S.

The U.S. Department of Housing and Urban Development (HUD) announced $150 million in funding for affordable housing projects that benefit low-income families in American Indian and Alaska Native communities through the Indian Housing Block Grant (IHBG) Competition. Funding will support tribes and Tribally Designated Housing Entities (TDHEs) to carry out affordable housing activities.

The U.S. Department of Transportation's (DOT) Federal Highway Administration (FHWA) is providing $729.4 million to 34 states, the District of Columbia, the U.S. Virgin Islands, and Puerto Rico to support repair needs following natural disasters, extreme weather, or catastrophic events, such as hurricanes, flooding, and mudslides. These events will receive federal reimbursement funding under the FHWA's Emergency Relief (ER) program as the result of major disaster declarations.

Stockton, CA City Council approved a $1.3 million grant from the Community Development Block Grant Program. The money will be given to Delta Community Developers Corp., a nonprofit instrumentality of the Housing Authority County of San Joaquin, for the purchase of property located in north Stockton. The property will be converted into a 110-unit affordable senior housing complex.

The U.S. Department of Housing and Urban Development (HUD) published a Notice of Proposed Rulemaking in the Federal Register to update regulations for the Community Development Block Grant (CDBG) and Indian Community Development Block Grant Programs (ICDBG). The proposed rule would streamline program requirements, promote economic development and investments in underserved communities, and enable larger, transformative construction projects.

The U.S. Department of Housing and Urban Development (HUD), the Arkansas Development Finance Authority, and the Windgate Foundation are awarding the Women & Children First (WCF), a domestic violence shelter in Little Rock, AR, more than $12 million for the construction of a shelter for women and children who are the victims of domestic violence.

The U.S. Department of Agriculture's (USDA) Pennsylvania Office of Rural Development provided an $8.7 million loan to Exeter, PA to upgrade the borough's aging stormwater and sewage system. The loan was made under the Water and Waste Disposal Loan and Grant Program.