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CDFA Rural Development Finance Update - April 18, 2023

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Rural Development Finance Update
April 18, 2023
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Rural Development Finance Update


CDFA Announces Strategic Food Systems Financing Plan for Southeast Nebraska
CDFA and Southeast Nebraska Development District (SENDD) are excited to announce the achievement of a strategic food systems financing plan for their regional food system! This is the first strategic financing plan created for SENDD that focuses on how the region can use traditional development finance tools to meet the capital needs of food and agriculture-related small businesses to generate economic prosperity while advancing racial and social equity.

Join CDFA for the Return of the Revolving Loan Fund Training Course Week!
Revolving Loan Fund Week is coming up next month, with the Intro Revolving Loan Fund Course on May 1-2 followed by the Advanced Revolving Loan Fund Course on May 3-4. Register for one or both of these courses to learn from experts about developing, implementing, and managing revolving loan fund programs that are efficient and impactful.

USDA Announces Availability of $1B in Cost-Share Grants for Rural Renewable Energy
The U.S. Department of Agriculture (USDA) Rural Development Ohio State Director Jonathan McCracken announced that USDA is accepting applications for $1 billion in grants to help agricultural producers and rural small businesses invest in renewable energy systems and make energy-efficiency improvements.

USDA Seeks Nominees for Minority Farmer Advisory Committee
The U.S. Department of Agriculture (USDA) is seeking nominations for individuals to serve on the Advisory Committee on Minority Farmers. This committee recommends solutions to challenges faced by minority farmers and ranchers and is part of USDA's commitment to advance equity for all, especially for farmers and producers in underserved communities. The Committee is administered by USDA's Office of Partnerships and Public Engagement.

Biden-Harris Administration Announces Nearly $300M for 9 Bridge Projects
The U.S. Department of Transportation's Federal Highway Administration (FHWA) announced nearly $300 million for nine small and medium-sized bridge projects in both rural and urban areas in eight states and the District of Columbia.

Biden-Harris Administration Awards $21.15M Through New Thriving Communities Program
The Thriving Communities Program funds tailored technical assistance to under-resourced and disadvantaged communities, helping them better access historic infrastructure investments and deliver transformative projects. The U.S. Department of Transportation announced funding through the Thriving Communities program to help 64 communities across the country have a fair shot to access historic funding opportunities provided by the President's Bipartisan Infrastructure Law.

USDA, SBA, and FDIC Partner for Economic Growth in American South
The U.S. Department of Agriculture (USDA), in partnership with the Small Business Administration (SBA) and the Federal Depository Insurance Corporation (FDIC), is hosting a series of regional economic development workshops on the "Path to Prosperity" in Mississippi, Kentucky, and Georgia to provide small businesses, including farmers and ranchers, with the resources and tools they need to grow.

USDA Announces Additional Assistance for Distressed Farmers Facing Financial Risk
The U.S. Department of Agriculture (USDA) announced that it will provide $123 million in additional, automatic financial assistance for qualifying farm loan program borrowers who are facing financial risk, as part of the $3.1 billion to help distressed farm loan borrowers that was provided through Section 22006 of the Inflation Reduction Act (IRA). The announcement builds on financial assistance offered to borrowers through the same program in October 2022.

Upcoming Events
Intro Revolving Loan Fund Course

CDFA Food Systems Finance Webinar Series: Access to Capital Tools & Food Systems
April 25, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how these tools can be used in strengthening local and regional food systems and address some of the challenges that come with financing this sector.

CDFA Tribal Finance Webinar Series: Promoting Access to Capital for Tribal Small Businesses
May 9, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, development finance experts will highlight a variety of finance programs that are helping to increase access to capital for new and existing small business owners.

USDA Rural Development News

$34M to Strengthen Wood Products Economy, Forest Sector Jobs, Sustainable Forest Management
The Biden-Harris Administration announced that $33.7 million from President Biden's Bipartisan Infrastructure Law will fund projects to strengthen the wood products economy and promote sustainable forest management. This investment supports a crucial link between resilient, healthy forests and strong rural economies and jobs in the forestry sector, especially in communities that depend on national forests and grasslands to grow and thrive.

USDA Invests $40M for Broadband in New Mexico
The USDA is investing $40 million to provide high-speed internet access for people living and working in rural areas in New Mexico. The investment is made possible because of funding from the Bipartisan Infrastructure Law, which provides $65 billion to expand reliable, affordable, high-speed internet to all communities across the U.S. The $40 million in grants comes from the fourth funding round of the ReConnect Program.

USDA Provides $30M to Two Vermont Hospitals
The last three years have taken a significant toll on rural healthcare in Vermont. To help reverse those effects, members of Vermont's delegation along with the United States Department of Agriculture presented two local hospitals with a hefty lump sum.  The USDA is awarding and loaning a combined $28 million to both the Northeastern Vermont Regional Hospital and Copley Hospital, by way of the American Rescue Plan Act.

Rural Development Finance News

Spring Grove, MN Part of Program to Enhance Design, Livability in Rural Communities
MINNPOST | Apr. 17 | Community Development | Economic Development | Federal | Rural Development | State Finance Program

Advocates Eye Farm Bill to Avert Drop in Affordable Rural Housing
The Spokesman- Review | Apr. 16 | Agriculture Finance | Bond Finance | Economic Development | Federal | Housing Finance | Rural Development

Department of Labor Announces $44M in Grants in Rural Communities
U.S Department of Labor | Apr. 14 | Economic Development | Federal | Rural Development

Rural Pennsylvania to Benefit from $200M Infusion from Feds for Broadband
Pennsylvania Capital Star | Apr. 12 | Community Development | Economic Development | Federal | Infrastructure Finance | Rural Development

Projects Selected for Wisconsin Top Rural Development Initiative Honor
WISBUSINESS | Apr. 12 | Agriculture Finance | Economic Development | Education | Rural Development

FARRMS Offers Opportunities in Sustainable Agriculture in North Dakota
Minot Daily News | Apr. 12 | Access to Capital | Agriculture Finance | Education | Rural Development

Senate AG Leaders Say More Farm Bill Funding Is Needed
Successful Farming | Apr. 11 | Access to Capital | Agriculture Finance | Food Systems Finance | Rural Development

Economic Development Bills to Focus on Rural Development, Site Prep in Alabama
Alabama Political Reporter | Apr. 6 | Community Development | Economic Development | Incentives | Legislative | Rural Development

Congresswoman Tenney Introduces Tax Credit Bill to Assist Rural Developers
The Batavian | Apr. 6 | Community Development | Economic Development | Legislative | Rural Development | Tax Credits

Indigenous Farmers, Farmers of Color Want a Better Deal from New Farm Bill
MPR News | Apr. 5 | Access to Capital | Agriculture Finance | Economic Development | Food Systems Finance | Rural Development

Arkansas' Farm Income Expected to Retreat Following Record Year
The Daily Citizen | Apr. 4 | Agriculture Finance | Federal | Rural Development

Legislature Advances School Finance Reforms in Nebraska
Nebraska Public Media | Apr. 4 | Education | Legislative | Rural Development | State Finance Program | Tax Credits

DFC Approves $655M of Investments to Bolster Infrastructure, Energy Security, Food Security, and Healthcare
DFC | Mar. 31 | Agriculture Finance | Bond Finance | Economic Development | Energy Finance | Food Systems Finance | Healthcare | Infrastructure Finance | Rural Development

Senator Manchin Announces $631K for 3 West Virginia Rural Development Projects
Joe Manchin | Mar. 30 | Agriculture Finance | Economic Development | Federal | Rural Development

Governor Ron DeSantis Awards More Than $5.4M to Four Small Rural Florida Communities
Ron DeSantis | Mar. 28 | Community Development | Economic Development | Housing Finance | Infrastructure Finance | Rural Development

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


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