CDFA Legislative and Federal Affairs Update - December 5, 2023

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Legislative and Federal Affairs Update December 5, 2023	Subscribe View Archives

Legislative Features

Join CDFA for Our New Intro Federal Finance Course

Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.

U.S. Department of Transportation Announces $1.5B in RAISE Grants

The U.S. Department of Transportation (DOT) announced the availability of $1.5 billion in grant funding for the 2024 Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant program. The program helps project sponsors at the state and local levels, including municipalities, Tribal governments, counties, and others complete critical freight and passenger transportation infrastructure projects.

U.S. Department of Energy Invests $275M for Clean Energy Supply Chains

The U.S. Department of Energy (DOE) announced $275 million for seven projects to strengthen clean energy supply chains and accelerate domestic clean energy manufacturing in nine former coal communities across the nation. Each project positions the U.S. to enhance its global competitiveness and national security by building domestic supply chains for existing and emerging technologies, built with American labor and materials.

U.S. EPA Announces $2B for Environmental and Climate Justice Community Change Grants

The U.S. Environmental Protection Agency (EPA) announced $2 billion in funding to support community-driven projects that deploy clean energy, strengthen climate resilience, and build capacity for communities to tackle environmental and climate justice challenges. The EPA's Community Change Grants are the largest investment in environmental justice going directly to communities in history and will advance collaborative efforts to achieve a healthier, safer, and more prosperous future for all.

Bipartisan Legislation Introduced to Reauthorize Brownfields Tax Deduction

Representatives Mikie Sherrill (NJ-11) and Mike Turner (OH-10) reintroduced the Brownfields Redevelopment Tax Incentive Reauthorization Act. This legislation would allow state and local governments, nonprofits, or developers to fully deduct the cost of environmental remediation of brownfields, and vacant industrial and commercial areas like gas stations that remain undeveloped because of concerns of environmental contamination.

U.S. EPA Provides $90M for Tribal Recycling Infrastructure Projects

The U.S. Environmental Protection Agency (EPA) announced 59 selectees to receive over $60 million in Solid Waste Infrastructure for Recycling (SWIFR) grants for Tribes and Intertribal Consortia, and 25 selectees to receive over $33 million in Recycling Education and Outreach (REO) grants. These grants are funded under the Bipartisan Infrastructure Law and will expand recycling infrastructure and education for waste management systems across the country.

White House Releases Climate Assessment, Announces $6B for Climate Resilience

President Biden announced more than $6 billion in investments to make communities across the country more resilient to the impacts of climate change, including by strengthening America's aging electric grid infrastructure, reducing flood risk to communities, supporting conservation efforts, and advancing environmental justice. The Administration is also releasing new resources to boost climate resilience efforts.

U.S. EPA Invests $52M for Wastewater Infrastructure in Puerto Rico

The U.S. Environmental Protection Agency (EPA) is awarding Puerto Rico over $52 million to support cleaner water across the Island, of which almost $30 million is funding through the Bipartisan Infrastructure Law. Additional funds are coming from Puerto Rico's Clean Water State Revolving Fund (CWSRF) provides interest-free or low-interest rate financing for wastewater and sewer infrastructure projects to municipalities.

Over $400B Distributed from Bipartisan Infrastructure Law After Two Years

The Bipartisan Infrastructure Law was signed into law two years ago. To date, nearly $400 billion in funding has been distributed for over 40,000 specific projects and awards, across over 4,500 communities in all 50 states, D.C. the territories, and for Tribes.

Rhode Island Infrastructure Bank Opens $5.5M Municipal Matching Funds Pool

The Rhode Island Infrastructure Bank, the state's central hub for financing infrastructure improvements for municipalities, businesses, and homeowners, opened the $5.5 million Municipal Matching Funds Pool through its Municipal Infrastructure Grant Program and encouraged local cities and towns to submit applications. The available funds are dedicated to providing municipalities with matching funds required to unlock federal Bipartisan Infrastructure Law funding for eligible infrastructure projects.

Amtrak to Receive $16.4B for Passenger Rail Projects in Northeast U.S.

The Biden administration announced $16.4 billion in new funding from the Bipartisan Infrastructure Law for 25 passenger rail projects on Amtrak's Northeast Corridor. The investments will rebuild tunnels and bridges that are over 100 years old; upgrade tracks, power systems, signals, stations, and other infrastructure; and advance future projects to significantly improve travel times by increasing operating speeds and reducing delays.

Upcoming Events

CDFA // BNY Mellon Development Finance Webcast Series: Financing Childcare Facilities with Bonds
December 19, 2023 - 2:00 PM - 3:00 PM Eastern

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, experts will discuss challenges faced in financing childcare facilities and share examples of how bond financing can be used to support such businesses.

Fundamentals of Economic Development Finance WebCourse
January 24-25, 2024 - Daily: 12:00 PM - 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.

Federal Features

Colorado Receives $22M for Wildlife Overpass from U.S. Department of Transportation

The Colorado Department of Transportation received $22 million from the U.S. Department of Transportation to build a wildlife overpass between Denver and Colorado Springs as part of a longer project to protect the major thoroughfare from wildlife collisions.

USDA Invests $2.3M in Oregon for Healthcare and Broadband

The U.S. Department of Agriculture (USDA) is investing $2.3 million in rural telemedicine help for Clatsop, Hood River, Marion, Wasco, and Yamhill counties. The funding, from USDA Rural Development, includes a first-in-the-nation Broadband Technical Assistance Program investment of $500,000 for Rural Prosperity Partners that will help address fundamental barriers faced by rural communities, giving Oregonians everywhere a fair shot at receiving state and federal broadband funding.

Gun Lake Tribe, MI Receives $56M WIFIA Loan, First-Ever to Tribal Government

The U.S. Environmental Protection Agency (EPA) announced a $56 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians' Utility Authority, also known as the Gun Lake Tribal Utility Authority. This is the WIFIA program's first loan to a tribal borrower. EPA's WIFIA financing will support upgrades to the tribe's drinking water and wastewater systems to support a healthy community and economic opportunity.

USDA Invests $28M to Support Beginning Farmers and Ranchers

The U.S. Department of Agriculture (USDA) is investing $27.9 million across 45 organizations that teach and train beginning farmers and ranchers, including programs for U.S. veterans who are entering into agricultural careers and starting new farming businesses. This investment is part of the National Institute of Food and Agriculture's Beginning Farmer and Rancher Development Program, which supports a wide range of professional development activities and topics.

Sarpy County, NE Receives $45M WIFIA Loan for Wastewater Infrastructure

The U.S. Environmental Protection Agency (EPA) announced a $45 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the Sarpy County and Cities Wastewater Agency in eastern Nebraska. The South Sarpy Wastewater System Project will install a new wastewater transmission system designed to be climate-resilient – lift stations will be constructed above the 100-year flood elevation and will feature backup engine generators for use during significant weather events.

U.S. EDA Invests $4.4M for Louisiana Infrastructure to Support Business Development

The U.S. Economic Development Administration (EDA) is investing $4.4 million in Louisiana to make critical infrastructure improvements needed to support current and future businesses in regions impacted by recent disasters.

USDA Invests $1.2B in Rural Cooperatives to Increase Economic Opportunity

The U.S. Department of Agriculture (USDA) is investing more than $1.2 billion in loans and grants that will support 112 projects to spur economic development, catalyze rural prosperity, and advance equity through rural cooperatives in 36 states and Puerto Rico.

U.S. DOT Provides $7.7M to Oregon-Based Coquille Tribe for Wharf and Port Development

The Coquille Tribe in Oregon received $7.7 million from the U.S. Department of Transportation (DOT) to benefit the Tribe's wharf and port development. Funding comes from the $662 million 2023 Port Infrastructure Development Program managed by the Federal Maritime Administration in the U.S. Department of Transportation.

Federal Financing Clearinghouse Spotlight

CDFA's Federal Financing Clearinghouse is the only online resource cataloging the development finance programs offered by the federal government. Check out our featured agencies and programs below. >>> Learn More

U.S. Dept. of Defense (DOD)

Community Economic Adjustment Assistance for Compatible Use and Joint Land Use Studies Program

The Community Economic Adjustment Assistance for Compatible Use and Joint Land Use Studies Program assists State and local governments in preparing and adopting a planning study to mitigate or...

U.S. Dept. of Education (DoED)

Promise Neighborhoods Program

The purpose of the Promise Neighborhoods program is to significantly improve the academic and developmental outcomes of children living in the most distressed communities of the United States,...

U.S. Dept. of Energy (DOE)

Energy Efficiency and Conservation Block Grant (EECBG) Program

The Program provides federal grants to states, units of local government, and Indian tribes to assist eligible entities in implementing strategies to reduce fossil fuel emissions, to reduce total...

U.S. Dept. of Health & Human Services (HHS)

HRSA Grants and Cooperative Agreements

The Health Resources and Services Administration (HRSA), an agency of the U.S. Department of Health and Human Services, is the primary Federal agency for improving access to health care services for...

Legislative and Federal Headlines

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New Additions to the Online Resource Database

Croatan Institute and Self-Help announce the release of a major new collaborative report that explores leading challenges faced by the Farm Credit System – the largest lender in the agricultural sector. This new report documents leading environmental, social, and governance (ESG) risks and shortcomings at Farm Credit and recommends changes to help the System more fully meet its basic public purpose: to help farmers and rural communities access affordable, reliable capital. By managing ESG risks more explicitly, Farm Credit as well as the system's secondary market entity Farmer Mac, could serve the widely unmet investor demand for "green bonds" and impact investments that finance climate solutions, conservation, regenerative agriculture, and underserved farmers and rural places.

>>> MORE LEGISLATIVE RESOURCES
>>> MORE FEDERAL RESOURCES

The Council of Development Finance Agencies 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 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