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CDFA Rural Development Finance Update - July 16, 2024

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Rural Development Finance Update
July 16, 2024
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Rural Development Finance Update

Features

Join Us for the Intro Brownfields Finance WebCourse at CDFA Summer School
The Intro Brownfields Finance WebCourse is a comprehensive training curriculum that helps economic developers, policymakers, and real estate professionals understand and master the financing strategies for the lifecycle of a brownfield property. Join us online to learn the brownfield redevelopment process and leave with an understanding of the basics of brownfields, the legal and regulatory challenges, and the financing tools available to clean up and build up these contaminated or polluted sites.

USDA Rural Development Awards $2.7M to Waldo County, ME Meat Processor
U.S. Department of Agriculture (USDA) Rural Development Maine State Director Rhiannon Hampson announced a grant of $2.7 million for Five Pillars Butchery (FPB) in Unity, Maine. The grant comes through the Department's Meat and Poultry Processing Expansion Program (MPPEP) to expand processing capacity and strengthen the food supply chain. The Unity business will use the grant to help construct a new meat and poultry processing facility in the Waldo County community.

CDFA Community Facilities Technical Assistance Program for Tribal Communities - Now Accepting Applications!
CDFA is excited to announce the second round of applications for the CDFA Technical Assistance Program for Tribal Communities is now open! Through this program, CDFA and a dedicated team of development finance experts are providing targeted one-on-one technical assistance to tribal communities for financing community facilities projects. Learn more about the program and if you're eligible today!

Rural Hospital Sustainability Program Receives $9M to Aid Arkansas' Rural Hospitals
Governor Sanders, the Arkansas Department of Human Services, and the Arkansas Department of Finance and Administration have announced over $9 million in funding that will go towards improving the long-term sustainability of rural hospitals. This comes as part of The Rural Hospital Sustainability Program, which looks to strengthen rural communities, serve patients, promote economic development, and preserve access to healthcare.

USDA Awards $55.2M Grant for Battery Storage Facility in Sahuarita, AZ
The U.S. Department of Agriculture (USDA) awarded a coalition of electricity cooperatives a $55 million grant to support the development of battery storage systems in rural areas of Southern Arizona. The grant comes from the Powering Affordable Clean Energy (PACE) program. The grant will specifically support three battery storage facilities across Arizona.

Biden Administration Announces Funding to Lower Energy Costs, Create Jobs in Rural West Virginia
The Biden Administration has announced funding to help lower energy costs and create jobs for rural West Virginians. The U.S. Department of Agriculture (USDA) is investing over $166,000 through the Rural Energy for America Program (REAP). These funds will be used to lower energy bills for farmers, agricultural producers, and rural small businesses throughout the state.

Rural Development Partners Invests $15M in NMTCs to Expand Colorado Food Bank
Rural Development Partners invested $15 million in New Markets Tax Credit (NMTC) financing to help the Food Bank of the Rockies expand their distribution center to Aurora, Colorado. Without NMTCs, the expansion would be significantly delayed or scaled back, limiting the ability to address food insecurity. The facility will support 179 full-time jobs, increase farmer sourcing, expand rural outreach, and quadruple the capacity for volunteer operations.

USDA Rural Development Invests $1.8M in Clean Energy to Strengthen Rural Iowa Economy
The U.S. Department of Agriculture (USDA) Rural Development State Director in Iowa Theresa Greenfield announced that USDA is investing more than $1.8 million in 23 projects across the state to lower energy bills, expand access to clean energy, and create jobs for Iowa agricultural producers and rural small business owners with funding through the Rural Energy for America Program (REAP).

Upcoming Events
CDFA Summer School

2024 CDFA Equitable Lending Learning Series: Strategic Partnerships for Sharing Financial Risk
July 23, 2024 - 1:00 PM - 3:00 PM Eastern
In this installment of the CDFA Equitable Lending Learning Series, speakers will explore how leveraging the strengths and expertise of various capital partners, technical assistance providers, and philanthropic supporters can help build successful and sustainable programs.

CDFA // BNY Development Finance Webcast Series: Financing Charter Schools with Social Bonds
August 20, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series, panelists will discuss how social bonds can be used to provide low-interest loans to high-performing public charter schools to provide transformative educational opportunities for students.

USDA Rural Development News

USDA and Reinvestment Fund Launch New Program to Increase Access to Healthy Food
Through the Healthy Food Financing Initiative, the U.S. Department of Agriculture (USDA) Rural Development and Reinvestment Fund have initiated a new program where food retailers and food retail suppliers are eligible to apply for loans, grants, and technical assistance through the Food Access and Retail Expansion Fund. $60 million is available for the program nationally with loans of $500,000 to $5 million available for food retailers and retail suppliers for redevelopment, land acquisition, renovations, and equipment purchases.

USDA Rural Development Awards Grants to Chanute, KS Entities for Clean Energy Projects
The U.S. Department of Agriculture (USDA) is partnering with rural Kansans on 23 clean energy projects to lower energy bills, expand access to clean energy, and create jobs in rural Kansas communities. The funding will support the expansion of modern clean energy systems that strengthen energy independence and help create good-paying jobs in rural Kansans.

Biden-Harris Administration Partners With Rural Americans to Develop Clean Energy to Lower Energy Costs, Create Jobs
U.S. Department of Agriculture (USDA) announced a partnership with rural Americans on hundreds of clean energy projects to lower energy bills, expand access to clean energy, and create jobs for U.S. farmers, ranchers, and agricultural producers. Many of the projects are funded by President Biden's Inflation Reduction Act, the nation's largest-ever investment in combating the climate crisis. USDA also unveiled the "Rural Energy Resource Guide" to make it easier for rural communities to identify federal funding for clean energy, including programs made possible by President Biden's historic Inflation Reduction Act.

$25M Available to Help Expand High-Speed Internet Access in Rural Areas
U.S. Department of Agriculture (USDA) Rural Development Under Secretary Dr. Basil Gooden announced that USDA is making available $25 million through the Broadband Technical Assistance (BTA) Program to help local organizations, cooperatives, and tribes expand affordable, high-speed internet projects in rural communities.


Rural Development Finance News

Missouri Gov. Parson Signs Bill Providing Bonus HTC Percentage to Rural Counties
Novogradac | Jul. 12 | Access to Capital | Historic Preservation | Incentives | Rural Development | Tax Credits

$55.2M to Boost Clean Energy in Rural Arizona With New Battery Systems
azpm | Jul. 2 | Community Development | Energy Finance | Rural Development

U.S. DOT Announces $114M in Federal Loans to Benefit Rural Oklahoma Communities
U.S. Department of Transportation | Jul. 2 | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Transportation (DOT)

Accenture Federal Services Wins $250M Department of the Interior Contract
Accenture | Jul. 1 | Federal | Infrastructure Finance | Legislative | Rural Development | U.S. Dept. of Interior - National Park Services (NPS)

USDA Partners With Rural South Carolinians to Promote Clean Energy
ABC Columbia | Jun. 28 | Community Development | Energy Finance | Rural Development

Groundbreaking Kicks off $5.2M Fire Station Project in Viroqua, WI
U.S. Department of Agriculture | Jun. 27 | Community Development | Redevelopment | Rural Development

Wyoming Could be a Leading Model for Rural Food Systems
The Cheyenne Post | Jun. 26 | Access to Capital | Food Systems Finance | Rural Development | Social Finance | State Finance Program

HHS Publishes First Round of IRA Case Studies on Health Sector Climate Investments
newswires | Jun. 26 | Energy Finance | Healthcare | Rural Development | Tax Credits | Case Studies

U.S. DOC Invests $790K to Support Tribal Disaster Recovery and Resiliency in Perkins, OK
U.S. Economic Department Administration | Jun. 25 | Community Development | Disaster Recovery & Relief | Federal | Rural Development | Tribal Finance | U.S. Dept. of Commerce (DOC)

Kentucky Agricultural Development Board Approves $8.5M for Projects
Morning AgClips | Jun. 23 | Access to Capital | Agriculture Finance | Rural Development | State Finance Program

Over $4M in Funding to Benefit Postsecondary Education Access in Rural West Virginia
WDTV | Jun. 21 | Community Development | Education | Rural Development

Groundbreaking News From USDA Rural Development Idaho State Director
KMVT | Jun. 20 | Community Development | Education | Rural Development

Michigan Offers Limited Financial Assistance to HPAI-Impacted Dairy Farms
Michigan Department of Agriculture & Rural Development | Jun. 18 | Agriculture Finance | Community Development | Rural Development

USDA Announces $25M to Expand High-Speed Internet Access in Rural West Virginia
WDTV | Jun. 21 | Community Development | Infrastructure Finance | Rural Development


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
info@cdfa.net

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