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CDFA Energy Finance Update - May 4, 2021

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CDFA Energy Finance Newsletter
May 4, 2021
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Energy Finance Update

Features

DOE Offers $8.25B in Transmission Loans for Clean Energy Projects
The Department of Energy (DOE) announced $8.25 billion in loans available for transmission projects and the White House released a fact sheet on the coordinated efforts between DOE and the Department of Transportation to modernize the electric grid. The total included up to $5 billion in loan guarantees for innovative transmission projects, such as offshore wind, along with up to $3.25 billion in the Western Area Power Administration's transmission infrastructure fund.

Biden Administration Outlines Key Resources to Invest in Coal and Power Plant Community Economic Revitalization
The White House Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization released a report that was delivered to President Biden and included the initial recommendations from the Interagency Working Group  to catalyze economic revitalization, create good-paying, union jobs, and support workers in energy communities – hard-hit coal, oil and gas, and power plant communities – across the country.

Climate Risk Mitigation Should Protect Housing at All Income Levels
The Credit Union National Association (CUNA) advocates for the mitigation of climate and natural disaster risks by improving the resiliency of housing stock through improved building codes and retrofitting, both of which can be used to protect housing at all income levels. CUNA urges the Federal Housing Finance Agency (FHFA) to not rely on risk transfer mechanisms because this will ultimately just price low- and medium-income consumers out of homeownership.

Gwinnett County, GA to Spend $125M to Bring Sewer to Rowen Project Area
Gwinnett County commissioners agreed to spend $125 million to expand sewer service to the eastern part of the county, where a planned research community is being built. The plan will bring sewer to Rowen, the 2,000-acre "knowledge community" that county commissioners announced last year. The research and innovation development, funded with $67.7 million in bonds, will focus on agriculture, medicine, and the environment.

Rhode Island Infrastructure Bank Finances $1.7M in Construction Projects via C-PACE
Rhode Island Infrastructure Bank has announced three energy efficiency construction projects receiving a total of more than $1.7 million in financing through the Bank's innovative Commercial Property Assessed Clean Energy (C-PACE) program. All include solar installations, and one of the projects also involves water conservation, LED lighting, HVAC upgrades, and insulation upgrades.

USDA Seeks Input to Create a New Rural Renewable Energy Pilot Program
The U.S. Department of Agriculture announced it is requesting public input from interested parties, including potential customers and interested stakeholders, to help create a new Rural Renewable Energy Pilot Program. The Consolidated Appropriations Act, 2021 provided $10 million to USDA to develop a pilot program that provides financial assistance to rural communities to further develop renewable energy.

Biden Proposes American Jobs Plan: Renewable Energy Initiatives
On March 31, 2021, President Biden released a fact sheet on his proposed $2.3 trillion initiative known as the American Jobs Plan. The plan includes spending to upgrade the electric grid and promote renewable energy. This update from McGuireWoods covers highlights of the plan related to renewable energy initiatives.

Bill Aims to Revamp REAP, Move AgSTAR from EPA to USDA
Reps. Chellie Pingree (D-ME) and Martin Heinrich (D-NM) introduced the Agricultural Resilience Act, which outlines a farmer-focused, research-driven path to net-zero agriculture. The bill would, in part, make changes to the Rural Energy for America Program and moves the federal AgSTAR program.

Upcoming Events
Advanced Bond Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Preserving Local Economies with Energy & Water Finance
Tuesday, May 18, 2021 - 2:00 PM - 3:00 PM Eastern
Join CDFA for this next installment of the CDFA // BNY Mellon Development Finance Webcast Series for a discussion about how energy and water finance programs can be positioned to address various local challenges simultaneously.

CDFA Federal Financing Webinar Series: Federal Financing for Energy and Water Systems
Tuesday, June 8, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts from the EPA and DOE will highlight best practices, case studies, and mitigation tools that will help your community finance critical projects.

Energy Finance News

Small Businesses, Farms Eligible for Energy Audits
Press Herald | Apr. 29 | Access to Capital | Agriculture Finance | Energy Finance | Food Systems Finance | Local Finance Program

Colorado Outdoors Secures C-PACE Funding for Facilities
Montrose Press | Apr. 27 | Energy Finance | Property Assessed Clean Energy (PACE) | Case Studies | Property Assessed Clean Energy Bonds (PACE) | Case Studies

Twain Financial Partners Contributes $40M in C-PACE Financing to Los Angeles, CA Mixed-Use Development
Twain Financial Partners | Apr. 27 | Economic Development | Energy Finance | Property Assessed Clean Energy (PACE) | Case Studies | Property Assessed Clean Energy Bonds (PACE) | Case Studies

EPA Announces $6.5B in New Funding for Water Infrastructure Projects
U.S. EPA | Apr. 27 | Federal | Infrastructure Finance | Rural Development | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

Wall Street's Trillion-Dollar Environmental, Social, and Governance Club Comes with Huge Tax Perks
Bloomberg | Apr. 23 | Energy Finance | Housing Finance | Tax Credits | Renewable Energy Investment Tax Credit (ITC) | Low Income Housing Tax Credits (LIHTCs)

Louisville Partnering with Energize Kentucky to Administer Energy Program Assessment District Program
Louisville-Jefferson County Metro Government | Apr. 22 | Energy Finance | State Finance Program | State Energy Finance Programs

Wyoming Energy Authority Announces State Energy Program Grants
Sheridan Media | Apr. 19 | Agriculture Finance | Energy Finance | Food Systems Finance | Resiliency | Rural Development | State Finance Program | Case Studies | State Energy Finance Programs

Lorain County, OH Commissioners Approve $6.76M in Bonds for Three Sewer Projects
The Chronicle | Apr. 19 | Bond Finance | Urban Development | Water Finance

Michigan's Rural Water Systems Confront Generations of Inadequate Investment
Michigan Radio | Apr. 19 | Access to Capital | Federal | Infrastructure Finance | Rural Development | Water Finance

Efforts Aim to Fight Climate Change While Protecting Small Businesses
Daily Herald | Apr. 15 | Energy Finance | State Finance Program

Greenworks Lending Acquisition Underscores C-PACE Industry Growth
PR Newswire | Apr. 12 | Energy Finance | Property Assessed Clean Energy (PACE)

Big Increases for Rural Power, WIC, Ag Research in Biden Proposal
Successful Farming | Apr. 12 | Agriculture Finance | Energy Finance | Federal | Infrastructure Finance | Resiliency | Rural Development | U.S. Dept. of Agriculture (USDA)

Clean Energy Stands to Win Big with Biden Administration's Proposed Infrastructure Plan
National Law Review | Apr. 8 | Brownfield Financing | Energy Finance | Federal | Infrastructure Finance | Legislative | Resiliency | Social Finance

DOE Announces $61.4M for Biofuels Research to Reduce Transportation Emissions
U.S. Department of Energy | Apr. 8 | Energy Finance | Federal | Green Finance | U.S. Dept. of Energy (DOE)

New Developer Alset Solar Launches with Focus on Utility-Scale Brownfield Projects
Solar Power World | Apr. 7 | Brownfield Financing | Energy Finance | Green Finance

Ohio Shuts Off Valve to Tainted $1B Bailout
The Bond Buyer | Apr. 7 | Bond Finance | Energy Finance

USDA Increases Funding Limits for the Revolving Fund Program
Daily American | Apr. 3 | Agriculture Finance | Federal | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance | State Revolving Fund


Highlights from the Online Resource Database

Made in America Tax Plan Report
Economic Development | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Tax Credits
The Made in America Tax Plan Report describes President Biden's Made in America tax plan, part of the newly announced American Jobs Plan. Importantly, this tax plan would generate new funding to pay for a sustained increase in investments in infrastructure, research, and support for manufacturing, fully paying for the investments in the American Jobs Plan over a 15-year period and continuing to generate revenue on a permanent basis.

Summary of State and Local Funding Sources in the American Rescue Plan
Access to Capital | Agriculture Finance | Brownfield Financing | Community Development | Disaster Recovery & Relief | Economic Development | Education | Energy Finance | Food Systems Finance | Healthcare | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Urban Development
This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the federal level with no further sub-allocation. It is a dynamic summary to be paired with the Federal Investment Guide produced by Accelerator for America, Drexel University, and the US Conference of Mayors.

American Rescue Plan: Federal Investment Guide
Access to Capital | Agriculture Finance | Brownfield Financing | Community Development | Disaster Recovery & Relief | Economic Development | Education | Energy Finance | Food Systems Finance | Healthcare | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Urban Development
This report from Drexel University's Nowak Metro Finance Lab provides a guide to federal funding in the American Rescue Plan (ARP). The authors place a special emphasis on formula funds received by local anchors, competitive grants, and funds distributed to public authorities that city leadership can leverage to boost their recovery. They clarify which entities are responsible for applying for grant funds, when funding expires, and what role city and county leadership can play even when they will not be the primary applicant for funds.


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

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