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.