With funding from USDA Rural Development, CDFA has the opportunity to provide targeted technical assistance to utilize the USDA Community Facilities Program along with other development finance tools for six rural communities that have recently experienced a natural disaster. Eligible communities must have a population of no more than 20,000 and have a Major Disaster Declaration from FEMA for hurricanes or wildfires in 2018 or floods or tornadoes in 2019. Apply today!

Building, maintaining, and operating a water and sewer system is generally the most expensive item on a small town's budget. The U.S. Department of Agriculture's Water and Waste Disposal Program is a lifeline for rural communities, providing Michigan towns with $963.8 million in loans and $307.1 million in grants between 2008 and 2020. It's an expensive challenge that resists solutions. New legislation approved in Washington could help by awarding additional grants to rural towns.

The Office of Management and Budget (OMB) announced in the Federal Register it would change the minimum core population for metropolitan statistical areas from 50,000 to 100,000 significantly changing the character of nonmetro counties and impacting policy and funding. At a time when government is focused on COVID-19 relief, economic recovery, infrastructure, and racial equity, small rural areas may be forced to compete with better-situated newcomers for federal funding.

A bipartisan group of legislators introduced the Affordable Housing Credit Improvement Act of 2021 in both chambers of Congress. Novogradac estimates the primary unit financing provisions of the bill could finance as much as 2 million additional affordable rental homes in urban and rural areas over 10 years.

The Biden Administration's discretionary budget request gave agriculture a big step up in funding, a 16% increase from the 2021 enacted level. Secretary of Agriculture, Tom Vilsack, stated that the discretionary budget would expand broadband access, provide more funds for agricultural research, provide more money for forest management, and increase the funding for the SNAP and WIC.

President Biden's roughly $2 trillion plan aims to improve U.S. infrastructure and shift to greener energy over the next eight years. The infrastructure spending plan is the first of a two-part proposal to help the nation's economy recover from the coronavirus pandemic. The President is expected to unveil his package focusing on the "care economy," including investments in education and child care, in coming weeks.

An announcement from the U.S. Department of Agriculture approving an $88.2 million loan to Deborah Heart and Lung Center will provide the hospital the final piece of funding needed for a planned $100 million capital improvement project. The USDA loan is funded through its Community Facilities Direct Loan and Grant Program and will be used to upgrade Deborah's in-patient rooms, pay for the construction of a new in-patient tower, and provide other improvements.

U.S. Sens. John Thune (R-S.D.), Jeanne Shaheen (D-N.H.), and Deb Fischer (R-Neb.) introduced the Rural Capital Access Act, legislation that would incentivize additional capital investments in rural America by improving the Small Business Investment Company's ability to invest in rural businesses and encouraging greater participation in the Rural Business Investment Company program.

CDFA Federal Financing Webinar Series: Federal Programs for Affordable Housing Investment
Tuesday, May 11, 2021 - 2:00 PM - 3:30 PM Eastern

CDFA Rural Development Finance Webinar Series: Assembling Capital for Rural Development
Tuesday, June 1, 2021 - 2:00 PM - 3:00 PM Eastern

>>> VIEW THE RURAL DEVELOPMENT FINANCE RESOURCE CENTER   

This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the federal level with no further sub-allocation. It is a dynamic summary to be paired with the Federal Investment Guide produced by Accelerator for America, Drexel University, and the US Conference of Mayors.

This report from Drexel University's Nowak Metro Finance Lab provides a guide to federal funding in the American Rescue Plan (ARP). The authors place a special emphasis on formula funds received by local anchors, competitive grants, and funds distributed to public authorities that city leadership can leverage to boost their recovery. They clarify which entities are responsible for applying for grant funds, when funding expires, and what role city and county leadership can play even when they will not be the primary applicant for funds.

During the first installment of the CDFA Rural Development Finance Webinar Series, hear about a new technical assistance program from CDFA designed to support rural communities that have recently experienced a natural disaster. Experts discussed the variety of financing tools available from federal, state, and local sources to encourage investment resilient infrastructure.

The Plan estimates that additional public and philanthropic investment is needed over the next ten years: approximately $9.7 million in one-time funding and $23.3 million in recurring funding. This level of funding will ensure sufficient land access and conservation, climate resilience, food security, infrastructure investments, regional market development, and workforce development to meet the growing needs of the sector. Public and philanthropic funding will also stimulate additional private sector investment.

As part of the American Rescue Plan's $362 billion in federal fiscal recovery aid for state and local governments, $65.1 billion is provided in direct aid to counties and an additional $1.5 billion for public land counties. This analysis by the National Association of Counties highlights key provisions for county governments.

>>> SEARCH RURAL DEVELOPMENT RESOURCES