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CDFA Revolving Loan Fund Finance Update - May 14, 2024

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Revolving Loan Funds Update
May 14, 2024
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Revolving Loan Fund Finance Update

Features

Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

Ohio Seeks $189M in EPA Funds for State's First Climate Action Plan
Ohio Gov. Mike DeWine's administration is seeking $189 million in federal Inflation Reduction Act funding to help implement the state's first climate action plan. The proposal, submitted to the U.S. Environmental Protection Agency (EPA), would establish a statewide fund to help electrify government fleets, retrofit public buildings, and install solar generation on city, county, and state properties.

CDFA Board Treasurer Steve Johnson Named CHFA's Chief Operating Officer
CDFA is excited to share the promotion of Steve Johnson to COO of the Colorado Housing and Finance Authority (CHFA). Steve has been one of CDFA's most committed supporters and advocates for the past 20 years, contributing his time and expertise as a guest speaker, event sponsor, CDFA Board of Directors Treasurer, and countless other ways. Congratulations Steve!

More Than $26M to 37 State, Local, & Tribal Governments to Support Clean Energy Projects
The U.S. Department of Energy (DOE) announced more than $26.9 million to nine states, 27 local governments, and one tribe through the Energy Efficiency and Conservation Block Grant (EECBG) Program. Funds will be deployed to advance crucial clean energy and infrastructure upgrades by state governments, local governments, and Tribes to reduce energy use, curb fossil fuel emissions, and improve energy efficiency.

Mitchell Smith Guest Speaker at CohnReznick's Annual New Markets Tax Credit Summit
Mitchell Smith, CDFA's Senior Director of Government & External Affairs, joined CohnReznick in Miami to speak at their annual New Markets Tax Credit (NMTC) Summit! Mitchell shared his expertise at the session, "Ballot boxes, budgets, and bipartisanship: The legislative state of the NMTC in the 2024 election year."

Hawaii Rolls Out Affordable Homeownership RLF
A new program offered by the Hawaii Housing Finance and Development Corporation (HHFDC) sets aside funds for nonprofit Community Development Financial Institutions (CDFIs) or other nonprofit housing development organizations that build self-help, for-sale housing for those in low- and moderate-income categories. To be eligible, the applicant must develop houses for individuals and families who earn no more than 100% of the area median income as determined annually by the U.S. Department of Housing and Urban Development (HUD).

FDC's Commercial RLF Funds Another "For-Benefit" Coffee House in Indianapolis, IN
As a "For-Benefit" coffeehouse, Coffeehouse Five utilizes its revenue to provide five services to the community. Those include free premarital counseling, free marriage counseling, addiction recovery programs, and mentor training, and another portion of their proceeds are dedicated to help fund other mental health needs. It's a project made possible with dollars from the Franklin Development Corporation's (FDC) Commercial Revolving Loan Fund (RLF).

LTADD RLF Provides Vital Support for Area Small Businesses in Kentucky
Since its inception in 1968, the Lincoln Trail Area Development District (LTADD) has been dedicated to crafting innovative solutions to complex community challenges. Designed to support aspiring and expanding small businesses, LTADD's revolving loan fund (RLF) program offers accessible gap financing at reasonable rates. Established in 1986 through a grant from the U.S. Economic Development Administration (EDA), the program has been instrumental in fostering job creation and investment across the Lincoln Trail region.

Wurwand Foundation and WEV Partner to Support Small Business Owners in California
Philanthropic giving emerges as a powerful tool not only to support these local enterprises but also to cultivate resilience within the community at large. Recognizing the challenges faced by women, immigrant, and BIPOC business owners in obtaining working capital, Wurwand Foundation granted funds to Women's Economic Ventures (WEV) to be deployed as revolving loan capital to small business owners in Southern California.

Louisiana Clean Water State RLF Seeks Eligible Projects
The Louisiana Department of Environmental Quality's (LDEQ) Clean Water State Revolving Fund (CWSRF) is opening the call for applications for the 2024 funding cycle. The CWSRF provides below market interest loans to finance qualifying projects to protect public health. CWSRF-eligible projects include construction, alteration, or repair of publicly owned treatment works (POTW), as well as implementation of nonpoint source pollution control and estuary management programs. Nonpoint pollution such as storm water runoff from highways and fields can also be addressed under the program.

Upcoming Events
Intro Tax Increment Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: AI & Bonds
May 21, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will unravel the multifaceted dimensions of AI's role in the municipal market, potential advantages and challenges that arise from embracing AI, and its impact on development finance.

2024 CDFA Equitable Lending Learning Series: Strategic Partnerships for Sharing Financial Risk
May 28, 2024 - 1:00 PM - 3:00 PM Eastern
In this installment of the CDFA Equitable Lending Learning Series, speakers will explore how leveraging the strengths and expertise of various capital partners, technical assistance providers, and philanthropic supporters can help build successful and sustainable programs.

Headlines

Fontana, CA City Council Approves RLF to Support Local Businesses
Fontana Herald News | May. 3 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)

U.S. EPA Announces $3B for Lead Pipe Replacement to Advance Safe Drinking Water
U.S. Environmental Protection Agency | May. 2 | Access to Capital | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

$1.25B Chicago Bond Issue Allows for a New RLF for Small Businesses
Reader | May. 1 | Access to Capital | Community Development | Economic Development | Housing Finance | Revolving Loan Funds (RLFs)

Massachusetts Community Climate Bank Launches First Consumer Loan Product
State of Massachusetts | Apr. 29 | Access to Capital | Energy Finance | Green Finance | Housing Finance | Revolving Loan Funds (RLFs) | Resiliency

Long Beach, CA RLF Seeks Additional Federal Funding
Press-Telegram | Apr. 29 | Access to Capital | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

Repeal of Alabama's Distressed Institutions RLF Advances out of House
abc3340news | Apr. 25 | Economic Development | Education | Revolving Loan Funds (RLFs)

Massachusetts RLF Provides $6M for Belchertown Mobile Home Park Water System
Daily Hampshire Gazette | Apr. 24 | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Montgomery, AL RLF Provides $2.5M to Support Local Small Businesses
Montgomery Advertiser | Apr. 23 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)

Kentucky Agricultural Finance Corp. Approves $2.9M in Loans
Morning AgClips | Apr. 22 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Funding Committed for Treatment Plant Upgrades in Glen Morgan, WV
WVVA | Apr. 22 | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Applications Open for Second Round of Alabama Meat Processing Program
WAAY31 | Apr. 16 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

New Mexico's Opportunity Enterprise RLF Receives $125M to Address Housing Crisis
Source NM | Apr. 15 | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Oregon Bill Provides $75M to Establish the Housing Project Revolving Loan Fund
Daily Emerald | Apr. 15 | Community Development | Housing Finance | Redevelopment | Revolving Loan Funds (RLFs)



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
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor