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CDFA Legislative and Federal Affairs Update - September 3, 2019

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Legislative and Federal Affairs Update
September 3, 2019
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Legislative and Federal Affairs Update


CDFA Releases Conduit Bond Fee Study
Today CDFA is proud to announce the release of the CDFA Conduit Bond Fee Study! This paper focuses on original data collected by CDFA from conduit bond issuers all over the country and provides a detailed breakdown of their various fee structures. CDFA produced the CDFA Conduit Bond Fee Study to share innovation and best practices throughout the bond industry.

Legislative Features

U.S. Chamber of Commerce Endorses Resilience RLF Act of 2019
The U.S. Chamber of Commerce sent a letter to House Transportation Committee Chairman DeFazio and Ranking Member Graves signaling its support for H.R. 3779, the Resilience Revolving Loan Fund Act of 2019.

Infrastructure & Surface Transportation Update
With partisanship at a fever pitch, one area of agreement between both parties on Capitol Hill and with President Trump has been the need to address the increasingly fragile state of the nation's infrastructure.

U.S. VI Bill Seeks to Expand Hotel Development Act
The fee would allow hotels in the Virgin Islands to add 7.5 percent to their hotel occupancy tax, and to utilize three different tiers according to the developmental phase of the project. Developers would be able to use the money as leverage in order to receive financing or as leverage to recoup some of their original investment.

Lawmakers Release Proposal to Address Underfunding and Barriers in Indian Country
United States Congresswoman Deb Haaland (D-N.M.) and Senator Elizabeth Warren (D-Mass.) released a proposal for a forthcoming bill, the Honoring Promises to Native Nations Act. The legislation will address chronic underfunding and barriers to sovereignty in Indian Country.

Sen. Grassley Releases First Reports Examining Tax Extenders
Tax breaks for short-line railroads and energy-efficient commercial buildings should be among the provisions made permanent, a bipartisan group of Senate Finance Committee lawmakers said in a report released August 13th.

Sen. Murkowski Introduces Bill to Help Develop Local Energy Infrastructure
U.S. Sen. Lisa Murkowski, R-Alaska, has introduced legislation to improve access to the Department of Energy's Section 1703 loan guarantee program. The bill would allow certain state financing entities to be fully eligible for the program, providing a new pathway for states to secure financing for projects that will reduce energy costs and lower greenhouse gas emissions.

MO, KS Farmers Rely on Federal Bailout Money
The bailouts were designed to help farmers who were already weathering low prices on commodities such as soybeans before Trump's trade wars sunk prices even lower. The administration has so far mailed checks totaling about $8.6 billion to U.S. farmers to help make up for lower market prices of 2018 crops.

Upcoming Events
Intro Opportunity Zones Finance WebCourse

CDFA Federal Financing Webinar Series: Opportunity Zones and Small Business featuring SBA and EDA
October 24, 2019 - 2:00 PM Eastern
In this webinar, CDFA will convene financing experts from the Small Business Administration and Economic Development Administration to discuss how their respective financing and grant programs can leverage Opportunity Fund investments in Opportunity Zones. CDFA will center the discussion around SBA 504 and 7(a) Loan programs, as well as the funding programs offered by the EDA.

Federal Features

HUD Awards $75M to Help End Youth Homelessness
HUD is awarding $75 million to end youth homelessness in 23 local communities across the country, including 8 rural areas. HUD's Youth Homelessness Demonstration Program (YHDP) will help these communities to build local systems and will support a wide range of housing programs including rapid rehousing, permanent supportive housing, transitional housing, and host homes.

SBA Awards Grants to 24 Organizations to Support Small Business Innovation
The U.S. SBA granted 24 awards up to $125,000 per recipient in FY 2019 under its Federal and State Technology (FAST) Partnership Program. FAST's objective is to improve outcomes for underrepresented entrepreneurs in SBA's SBIR and STTR Programs and increase participation for women-owned, rural-based, and socially and economically disadvantaged firms.

Gateway Project Sponsors Trim Costs in Bid for Federal Support
Proponents of a new Hudson River tunnel are hoping an updated plan lowering costs by $1.4 billion will be enough to obtain federal funding for the Gateway project that was blocked after the Trump administration took office in 2017. A revised application submitted to the Federal Transit Administration cuts the price tag for a new rail tunnel to $11.3 billion from $12.7 billion.

USDA Invests in Energy Efficiency Improvements to Help Farmers and Rural Businesses
USDA's Rural Business-Cooperative Service announced that it is awarding grants for projects in all states and Puerto Rico to reduce energy costs for farmers, ag producers, and rural-based businesses and institutions. USDA is investing $9.3 million through the Rural Energy for America Program (REAP) for renewable energy and energy efficiency projects across the nation.

BIA Finalizes Rules for Rights-of-Way on Indian Land, Bond Exemption
This final rule exempts Federal, State, Tribal, and local governments from the requirement to obtain a bond, insurance, or alternative form of security for a right-of-way across Indian land and Bureau of Indian Affairs (BIA) land where such governments are prohibited by law from obtaining security.

CBO Publishes Update to 10-Year U.S. Budget and Economic Outlook
In CBO's projections, federal budget deficits remain large by historical standards, and federal debt grows to equal 95 percent of GDP by 2029. Economic growth is expected to slow from 2.3 percent in 2019 to a rate that is below its long-run historical average.

Department of Transportation's FRA Makes Available $244M for Capital Rail Projects
The U.S. Department of Transportation's (USDOT) Federal Railroad Administration (FRA) issued a Notice of Funding Opportunity (NOFO) for the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program. The NOFO includes more than $244 million in grant funding.

EPA Announces $3.2M in Water Quality Cooperative Agreements in MS and FL
The U.S. Environmental Protection Agency (EPA) announced that it anticipates awarding three Gulf of Mexico Division cooperative agreements totaling more than $3.2 million to fund projects that improve water quality, habitat, and environmental education in Mississippi and Florida.

U.S. EDA Makes $587M in Disaster Aid Available to Communities
The U.S. EDA has published a Disaster Supplemental Notice of Funding Opportunity (NOFO) making $587 million available to eligible grantees in communities impacted by Presidentially declared natural disasters in 2018, and floods and tornadoes in 2019.

White House OZ Council Releases List of Federal Programs Favoring OZs
The White House Opportunity and Revitalization Council members have identified over 160 Federal programs where targeting, preference, or additional support could be granted to Opportunity Zones. The Council has already taken action on over 130 grants or programs.

DOE Releases Clean Energy for Low-Income Communities (CELICA) Toolkit
The U.S. Department of Energy's (DOE) Better Buildings Initiative recently released the Clean Energy for Low-Income Communities (CELICA) Toolkit, which provides materials to help program administrators reduce energy burden for low-income communities by enhancing and expanding upon work funded through utility, state, or federal programs.

White House Opportunity and Revitalization Council Visits Acadiana, LA
Officials from the White House Opportunity and Revitalization Council toured Lafayette as part of a visit organized with the Acadiana Planning Commission. The group toured parts of the seven census tracks, home to some 29,000 people in Lafayette, that have been designated as Opportunity Zones.

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

Agency Seal Appalachian Regional Commission (ARC)

Business Development Revolving Loan Fund
The primary objective of the ARC RLF program is saving and creating private-sector jobs. Projects are expected to support specific types of economic activities planned or underway in the area.

Agency Seal Delta Regional Authority (DRA)

Community Infrastructure Fund (CIF)
The DRA created the Community Infrastructure Fund (CIF) to target physical infrastructure projects that help build safer, more resilient communities in the Delta region.

Agency Seal Denali Commission

Energy & Bulk Fuel Program
Recognizing the critical role energy plays in the quality of life and economic development of Alaska's rural communities, the Denali Commission has made energy and bulk fuel its primary...

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

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CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor