CDFA COVID-19 Recovery & Relief Update - August 25, 2020
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| Features |
What Happens Next With Affordable Housing?
States and local governments already haven't been investing enough to help build housing that poor families, and sometimes even middle-class people, can afford. And now funding could be yet another victim of the coronavirus.
Rural Development Invests $46M in Rural Community Facilities in 16 States
The United States Department of Agriculture (USDA) is investing $46 million to improve critical community facilities to benefit 363,000 rural residents in 16 states. The investments can be used to build or upgrade schools, libraries, clinics and public safety facilities.
Black Restaurateurs Always Had a Tough Road, Pandemic Has Made Money More Scarce
Black people are still fighting desperately to catch up, to bridge the vast gap in opportunity and change their trajectory. They are tasked with the monumental charge of creating identity, individuality, ownership, with restoring dignity and respect, with rewriting the narrative of second-class citizens and becoming, in many cases, first-generation entrepreneurs.
When Will Tax Revenues Rebound? It Depends on the Tax
It doesn't take a crystal ball to see that even if the economy grows by 6 percent in 2021 from this winter's bottom-out point, as the most optimistic Wall Street economists forecast, many states and localities will remain underwater, struggling or unable to maintain full-scale public services in the face of continuing revenue shortfalls.
Baker Tilly Develops Public Sector COVID-19 Recovery Assessment Tool
The Baker Tilly Public Sector COVID-19 Recovery Assessment tool can help state and local government, utility and school district leaders assess the current impact of the coronavirus crisis on your entity and community, understand your level of preparedness for recovery in a possibly permanently altered environment and identify potential risks your entity may need to mitigate.
HUD Issues Guidance for Coronavirus Relief Funds
HUD provided guidance and additional flexibility to states and units of local government who are utilizing their existing federal disaster recovery funds to support low- and moderate-income persons and vulnerable populations for disasters occurring in 2015, 2016, 2017, 2018, and 2019 during the coronavirus outbreak. The August 17 Federal Register notice grants extensions and clarifies submission deadlines for CDBG-DR grantees.
As Texas Restaurants Struggle, So Does the Food Supply Chain
Economists project that up to 30% of all Texas restaurants will close or have to significantly shift their business models due to COVID-19. That will not only continue to impact restaurant owners and their employees, but will also send ripple effects into related industries including agriculture, trucking and food processing.
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| Upcoming Events |
CDFA-Bricker PACE Webinar Series: PACE Program Capitalization
Tuesday, September 22, 2020 - 11:00 AM - 1:00 PM Eastern
PACE program financing can be provided through private third parties, public bonds, or a combination of both, and within those options, there are many creative approaches being implemented across the nation. In 2017, The Kresge Foundation made a $3 million program-related investment into the St. Paul Port Authority's "Trillion BTU" and "MinnPACE" loan programs. This was a first of its kind PRI to help the community on-board PACE. This webinar will explore this and other creative methods that communities can utilize to capitalize their PACE program.
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| State & Local Programs |
Elevate Douglas COVID-19 Business Grant Program Provides Funds to Douglas County Businesses
Metro Atlanta CEO | Aug. 25 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | COVID-19
COVID-19 Housing Assistance Program Launched in Carver County and Scott County, MN
Scott County, MN | Aug. 25 | Access to Capital | Disaster Recovery & Relief | Housing Finance | Local Finance Program | COVID-19
Massachusetts Allocates $3.3M for Food Insecurity
Governing | Aug. 19 | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | State Finance Program | COVID-19
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| Federal Financing Programs |
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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
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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