Call for Proposals - CDFA Minority Capital Loan Guarantee Program
The CDFA Minority Capital Loan Guarantee Program is a 10-year, $18 million loan guarantee program, supported by the Robert Wood Johnson Foundation, to help development finance agencies in the United States deliver capital in a more equitable manner. CDFA is now accepting proposals from those interested in participating in the program, and the Call for Proposals submission criteria is available online.
Erie County, PA Redevelopment Authority Touts Record Year with $17.6M from Loan Funds
The Erie County Redevelopment Authority has been in the business of making loans since 2002, when Erie County gave the authority an $8 million grant to establish a revolving loan fund. The authority has since expanded by establishing what it calls a one-stop shop for lending that administers multiple revolving loan funds from which the authority has closed on 100 loans worth $17.6 million over the past two years.
Coming Up Next Month: 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.
Indiana House Approves Housing Infrastructure Loan Fund
Indiana House of Representative lawmakers approved a bill aimed at lowering the cost of new housing. The bill, HB 1005, would create a loan fund that local governments can access to pay for infrastructure for new housing – things like roads and sidewalks and water, sewer, gas and electric lines. Some builders say those infrastructure costs add as much as $57,000 to every new home.
Implementing Economic Justice in Development Finance Agencies
CDFA and our members at the St. Louis Development Corporation are hosting a joint webinar on February 22 at 2:00 PM ET to share the bold strategies that St. Louis is taking to infuse economic justice principles into their development finance programs. Join the conversation to hear from the authors of the St. Louis Economic Justice Action Plan and learn how key stakeholders across the city are implementing the recommendations.
Idaho to Receive $26M for Water Infrastructure Under Bipartisan Infrastructure Law
The U.S. Environmental Protection Agency (EPA) awarded the Idaho Department of Environmental Quality $26.7 million to protect and improve water quality and infrastructure across the state. Idaho's Drinking Water State Revolving Fund received $18 million and the Clean Water State Revolving Fund received $8.7 million. All the funding is a result of the Bipartisan Infrastructure Law.
St. Louis Park, MN Weighs City Loan for Low-Income Apartment Building
A new apartment project in St. Louis Park has received more than $20 million in state tax credits and funds from Hennepin County and the Metropolitan Council, as well as a smaller private loan toward the estimated $28.7 million cost of the building. Still, developer needs $450,000 more and is looking to St. Louis Park to fill the gap through an RLF for affordable housing, seeded with money collected from the city's tax-increment financing (TIF) districts.
$50M for Minnesota Lending Program Supporting Next Generation Farmers
The Minnesota House Agriculture Finance and Policy Committee approved a bill that would appropriate $50 million from state bond proceeds for the Rural Finance Authority to use for beginning farmer, seller sponsored, agricultural improvement, and livestock expansion loans. There is about $19 million left of the $50 million appropriated for the authority in 2020, but demand has increased along with interest rates and the authority expects to be out of funds by this fall.
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