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CDFA Revolving Loan Fund Finance Update - May 11, 2021

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Revolving Loan Funds Update
May 11, 2021
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Revolving Loan Fund Finance Update

Features

Advance Your Knowledge of RLFs at CDFA Virtual Summer School
Experience in-depth instruction and dynamic discussion during the Advanced Revolving Loan Fund Course, being offered this year at CDFA Virtual Summer School. Participants will learn about financial analysis, loan underwriting, portfolio management, balancing risk, managing proceeds, creative RLF strategies, and more during this advanced training course.

Successful Sale of Green and Sustainability Bonds Takes Place in Massachusetts
The State Treasurer's Office officials announced that the Massachusetts Clean Water Trust has completed the sale of approximately $351.4 million in two series of new money Green and Sustainability Bonds. The Sustainability Bonds were the first such issuances from the Trust and the first in the nation for a state revolving fund. It was the Trust's sixth Green Bond issuance.

North Dakota Counties Hope to See Infrastructure Needs Met with $680M Bonding Package
Gov. Doug Burgum signed House Bill 1431 on April 21, praising the $680 million bonding package as an economically sound tool to support infrastructure upgrades across North Dakota including flood control, roads, bridges, water projects, and an agricultural facility – all with using Legacy Fund earnings and without raising taxes. The package includes $50 million in funding for the statewide infrastructure revolving loan fund, among other targeted investments.

More Than 20 Philadelphia Area Banks Form Unprecedented $100M Fund for Minority-Owned Businesses
A consortium of more than 20 financial institutions, including nine of the Philadelphia region's 10 largest retail banks, plans to set up a $100 million fund earmarked for loans and grants to local minority-owned businesses. The effort will increase access to capital for minority-owned businesses, offer technical support to firms, and scale capacity for local Community Development Financial Institutions.

U.S. Senate Adopts Drinking Water and Wastewater Infrastructure Act
This legislation includes $35 billion of new investment to support drinking water and wastewater infrastructure projects. Most funds are allocated to the Drinking Water State Revolving Fund and the Clean Water State Revolving Fund. A significant proportion of authorized funds specifically target the water systems and infrastructure needs of disadvantaged populations, including low-income communities, rural areas, and tribal lands.

EDA Awards $2M in CARES Act Funds to Berwyn Development Corporation in Illinois
The Economic Development Administration (EDA) is awarding a $2 million CARES Act Recovery Assistance grant to the Berwyn Development Corporation, Berwyn, Illinois, to capitalize a Revolving Loan Fund that will provide critical gap financing to small businesses in the Chicago suburb. This EDA grant, to be matched with $500,000 in local investment, is expected to create 250 jobs, retain 100 jobs, and generate $35 million in private investment.

USDA Invests $487M in Rural Water, Energy, and Biofuel Infrastructure
USDA Rural Development announced the investment of $487 million in critical infrastructure that will help communities in 45 states build back better and stronger while prioritizing climate-smart solutions and environmental stewardship. USDA is making the investments under the Water and Environmental Program, the Rural Energy for America Program, the Electric Loan Program, and the Higher Blends Infrastructure Incentive Program.

California Gov. Newsom Signs $536M Bill for Wildfire and Forest Resiliency
Gov. Gavin Newsom signed into law SB 85, a $536 million wildfire and forest resiliency budget package that aims to help California prepare for another dry wildfire season. This includes $16 million for the Climate Catalyst Revolving Loan Fund which provides loans, loan guarantees, and other credit support to encourage the development of businesses that utilize wood and forest biomass and encouraging private-sector innovations.

Cincinnati Development Fund Partners with City to Create Regional Fund for Affordable Housing
The City of Cincinnati announced a new partnership with the Cincinnati Development Fund to create what some in city hall are calling a regional fund for affordable housing, with an initial $35 million loan fund for low-income and workforce housing.

Upcoming Events
CDFA Federal Financing Webinar Series: Federal Programs for Affordable Housing Investment

CDFA // BNY Mellon Development Finance Webcast Series: Preserving Local Economies with Energy & Water Finance
Tuesday, May 18, 2021 - 2:00 PM - 3:00 PM Eastern
Join CDFA for this next installment of the CDFA // BNY Mellon Development Finance Webcast Series for a discussion about how energy and water finance programs can be positioned to address various local challenges simultaneously.

Intro Revolving Loan Fund WebCourse
June 23-24, 2021 - 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.

Headlines

For Farmers Surviving the Pandemic, Timely Federal Grants and CDFIs Made All the Difference
Triple Pundit | May. 7 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | COVID-19

Capital Impact Partners Awarded $1M to Manage the New Nourish D.C. Fund
PR Newswire | May. 6 | Access to Capital | Economic Development | Food Systems Finance | Local Finance Program | Revolving Loan Funds (RLFs) | Social Finance

Southeast Ohio Communities Receive $9M from Ohio EPA State Revolving Funds for Water Improvements
WTOV | Apr. 29 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | Drinking Water | Sewage & Waste | State Revolving Fund

DOE Offers $8.25B in Transmission Loans for Clean Energy Projects
Utility Dive | Apr. 28 | Access to Capital | Energy Finance | Federal | Revolving Loan Funds (RLFs) | Resiliency | U.S. Dept. of Energy (DOE) | U.S. Dept. of Transportation (DOT)

Chautauqua County, NY Industrial Development Agency Distributes $10M in CARES Act Loans
WRFA | Apr. 28 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

$2.17M Announced for New Agriculture Investments in Pennsylvania
Northcentral PA | Apr. 24 | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

USDA Rural Development Invests $3.2M in Colorado Center Sanitation District
Valley Courier | Apr. 23 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)

Biden Administration Outlines Key Resources to Invest in Coal and Power Plant Community Economic Revitalization
The White House | Apr. 23 | Brownfield Financing | Community Development | Economic Development | Energy Finance | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Tax Credits | U.S. Dept. of Energy (DOE)

Five New Colorado Comeback Bills Introduced
EIN Presswire | Apr. 22 | Agriculture Finance | Disaster Recovery & Relief | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | State Finance Program | COVID-19

Looking at Rural Workforce Housing in Columbus, NE
The Columbus Telegram | Apr. 17 | Economic Development | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits | Tax Increment Finance (TIF)

CEI Capital Management Announces $1.49M NMTC Support for Saddleback Mountain Ski Resort in Maine
Daily Bulldog | Apr. 14 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits

Committee in Wahpeton, ND Supports Proposed Housing Fund
Wahpeton Daily News | Apr. 14 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs)

Small Business Relief Fund Available for Business Owners in Kosciusko County, IN
Times Union | Apr. 14 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Rural Development | Revolving Loan Funds (RLFs) | COVID-19

Vacant Brownfield Property in Goshen, IN to Receive Environmental Assessment
Goshen News | Apr. 13 | Brownfield Financing | Redevelopment | Revolving Loan Funds (RLFs) | Case Studies

New Jersey Fund Offers Loans to Black-Owned Firms Impacted by COVID-19
Whyy | Apr. 12 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Social Finance | Revolving Loan Funds (RLFs) | COVID-19

A City's Only Hospital Cut Services. The Locals Fought Back
The Wall Street Journal | Apr. 11 | Access to Capital | Community Development | Healthcare | Revolving Loan Funds (RLFs) | Rural Development


New Additions to the Online Resource Database

CDFA Food Systems Finance Webinar Series: Financing Food-Centered Redevelopment
Access to Capital | Bond Finance | Community Development | Economic Development | Federal | Food Systems Finance | Historic Preservation | Housing Finance | Opportunity Zones | Redevelopment | Revolving Loan Funds (RLFs) | Tax Credits | Webcasts | Infrastructure Finance
During this installment of the CDFA Food Systems Finance Webinar Series, we explored how investing in food-centered redevelopment can restore local food systems infrastructure, catalyze additional neighborhood development, and protect healthy, sustainable 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
info@cdfa.net

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