This week, the U.S. Department of the Treasury issued guidance and application materials for eligible state and local governments that can apply for the newly created $150 billion Coronavirus Relief Fund, established through the CARES Act. Funding is available to help governments navigate the impact of the COVID-19 outbreak. Funds can be used for expenses incurred between March 20, 2020 and December 30, 2020.

All states, as well as local governments with a population of 500,000 or more, are eligible to apply for funding. Governments must submit completed applications no later than 11:59 PM EDT on April 17, 2020.

>>>View list of eligible units of local government.
>>>View Coronavirus Relief Fund Application

USDA and its Federal partners have programs that can be used to provide immediate and long-term assistance to rural communities affected by the COVID-19 outbreak. This resource matrix organizes funding opportunities identified in the CARES Act and other federal resources that can help support rural America.

On this Friday's Weekly Development Finance COVID-19 Briefing, we have a powerful lineup of municipal finance experts joining us to discuss the capital markets. Hear from Bloomberg's Head of Municipal Strategy, a P3 professional from McGuireWoodsLLP, and a top muni bond advocate from the Bond Dealers of America.

On April 9, 2020, the Federal Reserve created the Main Street Lending Program, providing small and mid-sized businesses access to liquidity. The Program requires the establishment of two new loan facilities: (i) the Main Street New Loan Facility, which is intended to help facilitate new loans to businesses; and (ii) the Main Street Expanded Loan Facility, which is intended to help facilitate the extension of already existing loans. 

This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and Energy Tax Credits (ITCs).

The U.S. Secretary of Education announced today $65M in new grant awards that will fund the creation and expansion of more than 100 high-quality public charter schools in Opportunity Zones across America. Through the Expanding Opportunity through Quality Charter Schools Program (Charter Schools Program, or CSP), more students will have the opportunity to move off waitlists into schools of their choice.

Reported data is starting to reveal that African-American communities are among the populations most vulnerable to infection and death from COVID-19. And as the outbreak progresses, it's sure to highlight a range of inequalities in American society. But for advocates for the homeless in New Orleans and around the country, it was clear from the beginning that unhoused people were in particular danger.

As the coronavirus pandemic continues to disrupt the lives and operations of millions of American business owners, more state and local governments are offering funding programs to help companies stay afloat. These resources are independent of the federal loans and grants for small businesses offered through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The CARES Act provides CDBG grantees with flexibilities that make it easier to use CDBG-CV grants and fiscal years 2019 and 2020 CDBG Grants for coronavirus response and authorizes HUD to grant waivers and alternative requirements.

CDFA // BNY Mellon Development Finance Webcast Series: The Performance of Social Impact Bonds
Tuesday, April 21, 2020 - 1:00 PM Eastern

CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
Wednesday, May 12, 2020 - 11:00 AM - 1:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Historic Preservation Financing
Tuesday, May 19, 2020 - 1:00 PM Eastern

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During the April 10, 2020 Weekly COVID-19 Development Finance Briefing, Bruce Katz from Drexel University, Rachel Reilly from the Economic Innovation Group, and Katie Kramer from CDFA examined relief efforts run by local governments, philanthropic organizations, chambers, and other local entities to support main street.

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