Technical Assistance


CDFA Rural Development Finance Update - December 21, 2021

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Rural Development Finance Update
December 21, 2021
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Rural Development Finance Update


Accepting Applications for the CDFA Community Facilities Technical Assistance Program
With funding from USDA Rural Development, CDFA has developed an innovative technical assistance approach to support rural communities that have recently experienced a natural disaster. The goal of this program is to help rural communities utilize the USDA's Community Facilities Program along with identifying other potential development finance tools to aid in the rebuild and recovery after a natural disaster. Learn more and apply today!

USDA Invests $5.2B to Build and Improve Critical Rural Infrastructure
USDA Secretary Tom Vilsack announced that USDA is investing $5.2 billion to build and improve critical rural infrastructure in 46 states and Puerto Rico. The investments reflect the Biden-Harris Administration's commitment to Building a Better America by investing in rural communities and will help expand access to high-speed internet, clean water, and reliable electricity in people's homes and businesses across rural America.

Bipartisan Bill Introduced to Provide $250M Grant Program to Support Rural Economic Development
The Revitalizing Small and Local Businesses Act, which Sen. Wicker (R-MS) cosponsored alongside bill sponsor U.S. Sen. Alex Padilla (D-CA), would create a new competitive grant program through the Economic Development Administration (EDA) for nonprofits, business districts, and Main Street organizations to support economic development in America's low-income, rural and minority communities.

Creating Affordable Housing in Rural America
Developers are tackling a need for affordable housing for the homeless, families, and farmworkers in rural communities. This article showcases how developers are utilizing low-income housing tax credits (LIHTC), tax-exempt bonds, and other federal financing programs to build the needed affordable housing in rural communities.

USDA Invests $633M in Climate-Smart and Resilient Infrastructure for People in Rural Communities
The USDA is investing $633 million to reduce the impacts of climate change on rural communities. With the enactment of the Bipartisan Infrastructure Law and as part of the broader Build Back Better agenda, the Biden-Harris Administration has made investing in rural communities, creating good-paying jobs, and combatting the climate crisis top priorities.

Rural Leaders Fear They'll Miss Out On Infrastructure Money
Much of the $1.2 trillion from the infrastructure bill will flow to state governments, with the most populous states getting the largest amounts. Then cities, towns, and counties will compete for grants and loans, with state officials deciding who gets what. Federal officials will maintain control of about $120 billion, part of which will be doled out through competitive grants. But rural leaders worry that they lack the staff and matching dollars to compete with bigger cities for their fair share of the bounty.

Finding the Funding for Rural Outposts in America's EV Grid
To accelerate the transition to electric vehicles, every burg along our "blue highways" is going to need a place for motorists to plug in. For states, that means tax credits, matching grants, or similar incentives. But we're not talking big money.

Announcing Infrastructure Finance Series Featuring Frost Brown Todd LLC
CDFA is honored to partner with Frost Brown Todd LLC and its affiliate FBT Project Finance Advisors LLC to present the Infrastructure Finance Series. View the series to learn about the characteristics of infrastructure, innovative tools for financing, and how the private sector impacts the landscape of infrastructure investment.

Upcoming Events

Fundamentals of Economic Development Finance Course
January 26-27, 2022 - Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.

Intro Bond Finance Course
February 14-15, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

Intro Revolving Loan Fund WebCourse
March 28-29, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. This course demonstrates how an RLF program can complement your economic development strategy, encourage investment, and assist traditionally underserved businesses. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

USDA Rural Development News

USDA Expands Access to Four Key Loan Programs
USDA Rural Development Under Secretary Xochitl Torres Small announced the Department is expanding access to four loan guarantee programs that provide funding to help rural communities create jobs and improve local infrastructure.

USDA Begins Accepting Applications for $1.15B in Loans and Grants to Help Rural Communities Get High-Speed Internet
USDA Secretary Tom Vilsack announced the Department has begun accepting applications for up to $1.15 billion in loans and grants to help people in rural areas get access to high-speed internet. This announcement comes on the heels of the recently enacted Bipartisan Infrastructure Law, which provides another nearly $2 billion in additional funding for the ReConnect program.

USDA Invests $222M in Rural Community Infrastructure to Help People in 44 States, Guam, and Puerto Rico
The USDA is investing $222 million to build and improve critical community facilities in 44 states, Guam, Northern Mariana Islands, and Puerto Rico. This community infrastructure funding will benefit nearly 2.5 million people in rural communities. It also includes $132 million to support health care, food security, and emergency response services for more than 850,000 rural residents in 37 states.

USDA Invests $86M to Improve Equitable Access to Jobs, Education, Health Care and Housing for Rural Communities
The USDA announced the Department is investing $86 million to improve equitable access to jobs, business opportunities, education, housing, and health care for people who live and work in rural areas. The investments are part of the Biden-Harris Administration's commitment to ensure that people living in rural communities have equitable access to the infrastructure and opportunities often taken for granted by people living in urban and suburban areas.

Hundreds of Low-Income Homes Proposed in Southwest Mcfarland
A local builder of single-family homes for Kern's poorest rural residents has proposed hundreds of new units covering 76 acres along McFarland's southwestern edge. LeOra LLC, part of a family of companies associated with the Hair family and Bakersfield's Interstate Management Group LLC, is working with the U.S. Department of Agriculture to make as many as 339 homes available to qualified applicants at subsidized interest rates with no money down.

Rural Development Finance News

Lake County, CA Water Project to Receive USDA Funds Aimed at Improving Critical Rural Infrastructure
Lake County News | Dec. 18 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Water Finance | Water Finance

Colorado Company Approved for Rural Jump-Start Tax Credit Program
Colorado Biz | Dec. 17 | Economic Development | Incentives | Rural Development | State Finance Program | Tax Credits

Greystone Affordable Development Expands into New Construction in Rural North Carolina
Affordable Housing Finance | Dec. 17 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits

Grand Avenue Market: A 20-Year Quest to Re-establish a Local Grocery Store in Rural Kansas
IFF | Dec. 17 | Access to Capital | Community Development | Food Systems Finance | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | Rural Development

Florida Governor Champions Rural Communities by Recommending Unprecedented Funding in the State's 2022-2023 Budget
FL Department of Economic Opportunity | Dec. 16 | Access to Capital | Disaster Recovery & Relief | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | State Finance Program

North Carolina Approves Nearly $15M of Neighborhood Revitalization Grants for 21 Communities
NC Department of Commerce | Dec. 16 | Community Development | Housing Finance | Redevelopment | Rural Development | U.S. Dept. of Housing & Urban Development (HUD)

The SOAR Fund Disburses Over $11M in Loans to Help South's Smallest Businesses
Biz New Orleans | Dec. 15 | Access to Capital | Community Development | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | COVID-19

New Fund for Rural Businesses Around Madison, WI Announced
Wisconsin State Journal | Dec. 13 | Access to Capital | Revolving Loan Funds (RLFs) | Rural Development

Infrastructure Investment and Jobs Act: Key Points
JD Supra | Dec. 10 | Bond Finance | Federal | Infrastructure Finance | Public-Private Partnership (P3) Financing | Resiliency | Rural Development | U.S. Dept. of Energy (DOE) | U.S. Dept. of Transportation (DOT) | U.S. Environmental Protection Agency (EPA)

EPA Urges States to Route Water Infrastructure Funds to Underserved Communities
The Bulletin | Dec. 8 | Rural Development | State Finance Program | Water Finance

Utah Governor's Office Bringing New Distribution Center to Salt Lake City Through Tax Credit Incentive
KTVX | Nov. 15 | Economic Development | Redevelopment | Rural Development | State Finance Program | Tax Credits | Tax Increment Finance (TIF)

Real Estate Sales Boom in Pennsylvania's Rural Areas
Bedford Gazette | Nov. 15 | Community Development | Housing Finance | Rural Development

Indiana Farm Bureau Pushing Lawmakers for Rural Protection From Economic Damage
95.3 MNC | Nov. 14 | Rural Development

CDFA Resources

USDA Drought Toolkit for Elected Officials, Public Officials, & Community Leaders
Disaster Recovery & Relief | Resiliency | Rural Development | Water Finance
The USDA Drought Tool Kit is specifically designed to assist officials and community leaders mitigate the impact of an ongoing drought. The Drought Tool Kit will help in accessing valuable resources to share with constituents in areas recovering from drought

CDFA-ARC Webinar Series: Capital Program Strategies and Guidance
Access to Capital | Rural Development | State Small Business Credit Initiative (SSBCI) | Webcasts | Economic Development
The U.S. Department of the Treasury discussed and fielded questions pertaining to the recently-released Capital Program Policy Guidelines as well as SSBCI application timelines and requirements. Speakers also shared insights on program design and implementation, stakeholder outreach and alignment, and approaches for delivering SSBCI capital in Appalchian communities.

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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