About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA COVID-19 Recovery & Relief Update - December 22, 2020

Having trouble viewing this newsletter? View it online.
COVID-19 Recovery & Relief Update
December 22, 2020
Subscribe
View Archives
COVID-19 Recovery & Relief Update

Spotlight

Key Development Finance Priorities Passed in Congress in $2.3 Trillion Bill
Congress has passed a $2.3 trillion omnibus spending bill that includes approximately $1.4 trillion to fund the government through September 30, 2021, and approximately $900 billion in economic stimulus.

Many elements of the CDFA COVID-19 Comprehensive Recovery Strategy are in this bill, including increased funding for the CDFI Fund and the EDA, along with important extensions and corrections for several development finance tools.

Additional information and resources will be available in the coming weeks, including an all-new CDFA Federal Financing Webinar Series, updates to the CDFA Federal Financing Clearinghouse, and news and resources captured in the COVID-19 Resource Center.

Summaries of the development finance priorities included in H.R. 133 are listed below.

>>> Read a Section-by-Section Summary of Relief Provisions
>>> Read a Section-by-Section Summary of Appropriations
>>> Read a Section-by-Section Summary of Authorizing Matters
>>> Read the Full Text

Features

Breaking Down the $900B Stimulus Package and $1.4T Omnibus Bill
Congressional leaders on Sunday night unveiled the highlights of a $900 billion fiscal stimulus package and a $1.4 trillion government funding deal that will deliver critical pandemic aid to millions of Americans and pad federal agency budgets through next September.

Local Data for Equitable Recovery
Local Data for Equitable Recovery is a resource hub curated by the Urban Institute and the National Neighborhood Indicators Partnership (NNIP) that highlights how local communities can use data and information to respond equitably and effectively to long-standing disparities exacerbated by the COVID-19 health crisis.

Private Capital Public Good - Leveraging Impact Investing to Support a Just & Equitable Recovery
This policy paper from the U.S. Impact Investing Alliance outlines 12 specific policy recommendations and ideas with the potential to catalyze more impact investments to help address urgent social, economic, and environmental challenges.

Illinois' Bond-Market Penalty Hits Lowest Since Pandemic Crash
No state is reaping the bond-market benefits from the promised end of the pandemic more than Illinois. The state, whose bonds tumbled early this year on speculation it would become the first stripped of its investment-grade credit rating, has since seen its bonds rally back as investors plow into higher-yielding debt on speculation the financial blows of the shutdowns won't be as bad as once feared.

U.S. States' Path to Economic Recovery: Declining Fiscal Support, Slowing Employment Revival
The COVID-19 pandemic has triggered a dramatic short-term economic and revenue growth shock for many U.S. states. The slowing labor market recovery, significantly reduced pandemic-related state and federal government transfers, and a resurging wave of coronavirus infections and hospitalizations will slow the pace and challenge the durability of the economic recovery of many U.S. states.

Short-Term Uncertainties As COVID-19 Cases Spike
As regional lockdowns loom in light of a renewed spike in coronavirus cases, the near-term outlook may be a bit bumpy, says Gene Podkaminer, Head of Research at Franklin Templeton Investment Solutions. He explores the potential market implications of renewed lockdowns and comments on how vaccine availability might affect a future economic recovery.

Muni Yields Fall for the First Time in December
Municipal yields fell one to two basis points Tuesday on triple-A benchmarks, the first time since the beginning of the month the market saw any movement in the secondary. The new-issue market saw strong reception and deals priced at yields some might not have imagined a year ago on certain less-than-perfect credits. Primary repricings showed deals bumped by two to five basis points.

Upcoming Events
Fundamentals of Economic Development Finance WebCourse

Intro Bond Finance WebCourse
February 24-25, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

Intro Tax Increment Finance WebCourse
March 24-25, 2021 - Daily: 12:00-5:00 PM Eastern
This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

State & Local Programs

Could a Michigan Green Bank Offer a Blueprint for Biden's Green Recovery?
Energy News Network | Dec. 9 | Access to Capital | Disaster Recovery & Relief | Energy Finance | Green Finance | Resiliency | State Finance Program | COVID-19 | State Green Finance Programs

Federal Financing Programs

Agency Seal U.S. Dept. of Commerce (DOC)

Public Works and Economic Adjustment Assistance Programs
The Public Works and Economic Adjustment Assistance Program supports the construction or rehabilitation of essential public infrastructure and facilities needed to generate or retain private sector...

Agency Seal U.S. Dept. of Treasury

Primary Dealer Credit Facility
This loan facility provides credit to primary dealers in exchange for a broad range of collateral for term funding with maturities up to 90 days.

Agency Seal U.S. Small Business Administration (SBA)

SBA Disaster Assistance Loans
SBA offers low-interest long-term loans for physical and economic damage caused by declared disasters, including COVID-19.

COVID-19 Headlines

California Year-to-Date Revenues Beat Forecast by $13.8B
The Bond Buyer | Dec. 21 | Bond Finance | Disaster Recovery & Relief | Economic Development | COVID-19

Fitch Downgrades NY City Debt After S&P Revises Outlook on COVID Uncertainty
Reuters | Dec. 9 | Bond Finance | Disaster Recovery & Relief | COVID-19



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

Archives

Displaying 1 - 30 of 51

September 21, 2021
August 24, 2021
July 27, 2021
June 22, 2021
June 8, 2021
May 25, 2021
May 11, 2021
April 27, 2021
April 13, 2021
March 30, 2021
March 16, 2021
March 2, 2021
February 16, 2021
February 2, 2021
January 19, 2021
January 5, 2021
December 22, 2020
December 8, 2020
December 1, 2020
November 24, 2020
November 17, 2020
November 10, 2020
November 3, 2020
October 27, 2020
October 20, 2020
October 13, 2020
October 6, 2020
September 29, 2020
September 22, 2020
September 15, 2020




CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor