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Development Finance Review Weekly - April 9, 2020

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Development Finance Review Weekly
April 9, 2020
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CDFA Development Finance Review Weekly

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Watch: CDFA's Legislative Briefing - April 8 (Free Recording)
During this Legislative Briefing, we discussed the latest information about the next stimulus act (Phase 4) from Congress and the urgent actions development finance agencies should take. We examined legislative reactions to the CARES Act, what we expect in Stimulus 4 provisions, legislative actions on tax-exempt bonds and small business access to capital, and more.

Subscribe Now to CDFA's New COVID-19 Recovery & Relief Update Newsletter!
CDFA is launching a weekly newsletter covering how development finance is addressing disaster relief and recovery with a special focus on the COVID-19 pandemic. Subscribe now to this free offering from CDFA to keep receiving this content in the future!

Federal Reserve System Conducting Survey of Under-Resourced, Low-Income Communities
The Federal Reserve System is conducting a survey to understand better the range of challenges facing under-resourced and low-income communities. It will also help the Fed understand how this crisis is affecting organizations, like yours, that are supporting community needs. The survey closes on Friday, April 10.

USDA Expands Provisions for Lenders to Offer Temporary Exceptions to Payment Deferrals
USDA is expanding upon the deferral flexibilities it announced on March 31, 2020. The expanded notice provides that guaranteed lenders may also approve and make covered loans under the provisions of Section 1102 of the CARES Act. Section 1102 pertains to the Small Business Administration's Paycheck Protection Program.

Announcing the CDFA-ARI Rural Finance Webinar Series
CDFA is pleased to announce the CDFA-ARI Rural Finance Webinar Series, a free, informative, and time-sensitive online series to serve rural America and the unique challenges they face. Join us on April 15, 2020, for the first installment of this series, where we will explore the immediate COVID-19 response and resources at the state, local, and national levels that local leaders can use to reduce the impact of this crisis.

Applications for the Chicago, IL Small Business Resiliency Fund Now Open
The City of Chicago has established the $100 million Chicago Small Business Resiliency Fund (the Resiliency Fund), which will provide small businesses and non-profits with emergency cash flow during this health crisis. Funds will be provided to eligible businesses as low-interest loans.

COVID-19 Legislative Relief Provisions for Small Businesses
Two recent pieces of legislation, the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contain provisions intended to provide assistance to small businesses affected by the COVID-19 pandemic.

EPA Gives More Time to Applicants for Brownfield Funding
The EPA is extending by two weeks, to April 22, its deadline for Brownfields Revolving Loan Fund applications due to the coronavirus. The EPA made an additional $5 million available in March.

Upcoming Events
Intro Property Assessed Clean Energy (PACE) Finance WebCourse

Weekly Development Finance COVID-19 Briefing
Friday, April 10, 2020 - 1:00 PM Eastern
CDFA will be hosting a weekly briefing about development finance COVID-19 news and resources. These one-hour phone calls will feature legislative updates, news from our members, state and local financing strategies, and lessons learned from previous development finance responses to disasters.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Democrats Support Another $250M for Hospitals, Governments
Hospitals would receive another $100 billion in federal emergency grants and an additional $150 billion would go to state and local governments under a fast-evolving plan by congressional leaders to supplement the CARES Act even before they tackle the CARES Act 2.

Several Large New Issues Price in a Stabilizing Muni Market
The municipal market rallied by as much as 10 basis points, several large new issues priced and ICI reported $1.5 billion of outflows, down dramatically from the previous week's $20 billion. The market appears to be moving toward some semblance of normal conditions as the new-issue pricings and moderating bid volume create a more stable tone.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Upcoming Webcasts

CDFA-ARI Rural Finance Webinar Series: COVID-19 Response Resources for Local Leaders
Wednesday, April 15, 2020 - 1:00 PM - 2:30 PM Central
During the first installment of the CDFA-ARI Rural Finance Webinar Series, we will explore the immediate response and resources at the state, local, and national levels that local leaders can use to reduce the impact of this crisis.

CDFA Food Systems Finance Webinar Series: Disaster Recovery for the Food System
Thursday, April 16, 2020 - 2:00 PM Eastern
During the first installment of the CDFA Food Systems Finance Webinar Series, we will explore creative financing efforts being launched to support our local food economies during this time of unprecedented crisis.

CDFA // BNY Mellon Development Finance Webcast Series: The Performance of Social Impact Bonds
Tuesday, April 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore if the performance of Social Impact Bonds (SIBs) is living up to the hype and how SIBs can be used as a powerful tool for community development.

This Week's Headlines

Four Points Funding Revitalizes Hope In Rural Colorado
Forbes | Apr. 8 | Economic Development | Opportunity Zones | Rural Development

Harris County, TX Launches Small Business Economic Assistance Loan Program, Begins Process of Creating COVID-19 Relief Fund
Community Impact Newsletter | Apr. 8 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Microenterprise & Microloans | COVID-19

Monmouth, IL Proceeds With TIF Plan
The Register Mail | Apr. 8 | Bond Finance | Brownfield Financing | Tax Increment Finance (TIF)

Albuquerque, NM Seeks Proposals for P3 Rail Yard Redevelopment
KRQE | Apr. 7 | Public-Private Partnership (P3) Financing | Case Studies

Applications Now Available for Fresno, CA COVID-19 Relief Loans
The Business Journal | Apr. 7 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Microenterprise & Microloans | General Loan Programs | COVID-19

Minnesota Disaster Recovery Loan Program Now Available to Farmers for COVID-19 Damages
West Central Tribune | Apr. 7 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | Rural Development | State Finance Program | General Loan Programs | COVID-19 | Programs | Ag Finance | State Rural Financing Program

Missouri Receives $13.6M to Support COVID-19 Response Efforts
KRCG | Apr. 7 | Access to Capital | Disaster Recovery & Relief | Housing Finance | Infrastructure Finance | Social Finance | State Finance Program | COVID-19 | Transportation | Health

Selma, TX to Redevelop Town Center with P3
My San Antonio | Apr. 7 | Public-Private Partnership (P3) Financing | Case Studies

TruFund Launches $5M COVID-19 Relief Fund to Support Disadvantaged Minority and Women-Owned Businesses
PR Newswire | Apr. 7 | Access to Capital | Disaster Recovery & Relief | Economic Development | Social Finance | Microenterprise & Microloans | COVID-19

Arkansas Dept. of Commerce Ready for Quick Action Loans for COVID-19 Impacted
Talk Business & Politics | Apr. 6 | Access to Capital | Disaster Recovery & Relief | State Finance Program | Loan Guarantees | Microenterprise & Microloans | COVID-19

EPA Reviews of Maine Superfund Sites
EPA | Apr. 6 | Brownfield Financing

How OZs Can Support Affordable Housing Creation, Preservation
Novogradac | Apr. 6 | Housing Finance | Opportunity Zones

Minnesota Rural Finance Authority Funding to Allow COVID-19 Response
Albert Lea Tribune | Apr. 6 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | State Finance Program | Microenterprise & Microloans | COVID-19

New Jersey Agencies Offer Assistance to Businesses Affected by COVID-19
MyVeronaNJ | Apr. 6 | Access to Capital | Disaster Recovery & Relief | U.S. Small Business Administration (SBA) | Microenterprise & Microloans | COVID-19

Pennsylvania Funds Available to Keep Small Businesses Afloat During COVID-19 Closures
Centre Daily Times | Apr. 6 | Access to Capital | Disaster Recovery & Relief | State Finance Program | U.S. Small Business Administration (SBA) | Microenterprise & Microloans | COVID-19

Richmond, VA Establishes $1M Loan Program for Small Businesses Hurt by COVID-19
Richmond Times-Dispatch | Apr. 6 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Microenterprise & Microloans | COVID-19

What Each State Is Doing to Help Restaurants Harmed by COVID-19
Restaurant Business | Apr. 6 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | COVID-19

$21.5M for Multifamily Housing Development in Maryland
Commercial Observer | Apr. 6 | Housing Finance | Public-Private Partnership (P3) Financing | Case Studies

Louisiana Governor Announces State-Led Program to Help Small Businesses Affected by COVID-19
WAFB9 | Apr. 3 | Access to Capital | Disaster Recovery & Relief | State Finance Program | Loan Guarantees | COVID-19

What's in the New York Budget That Could Affect Your Business
Albany Business Review | Apr. 3 | Brownfield Financing | Disaster Recovery & Relief | COVID-19


New Additions to the Online Resource Database

EX-IM Bank FY 2019 Annual Report
Access to Capital | Economic Development | Foreign Investment | Innovation Finance | International
This is the annual report for the U.S. Export-Import Bank (EX-IM Bank) for FY19. In FY 2019, EXIM authorized a total of nearly $8.2 billion to support approximately $9.1 billion of U.S. exports and an estimated 34,000 American jobs.

Understanding Whom the LIHTC Serves - Data on Tenants in LIHTC Units
Housing Finance | Social Finance | Tax Credits
As mandated through the Housing and Economic Recovery Act of 2008, state agencies administering the Program are required to submit demographic and economic data on LIHTC tenants to HUD. While not inclusive of all tenants served by the LIHTC, the summary tables of state tenant data received as of December 31, 2017, provides a useful picture of the program's beneficiaries.


National Sponsor Spotlight

Bricker & Eckler LLP Bricker & Eckler LLP
Bricker & Eckler LLP, is one of Ohio's leading law firms. Located in Columbus, Cleveland and Cincinnati-Dayton, the firm represents corporations, nonprofit organizations, government agencies, health care facilities, school districts, and...
Bryan Cave Leighton Paisner LLP Bryan Cave Leighton Paisner LLP
Formed by the combination of Bryan Cave and Berwin Leighton Paisner, global law firm Bryan Cave Leighton Paisner LLP is purposely structured in a way few other law firms are, as a fully integrated international team that provides clients with clear,...
Business Oregon Business Oregon
Business Oregon works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic opportunities for Oregon companies and...

Partner Spotlight

informANALYTICS by Center for Governmental Research informANALYTICS by Center for Governmental Research
The Center for Governmental Research (CGR) is a nonprofit organized under section 501(c)(3) of the Internal Revenue Code. CGR brings expertise to issues spanning economics and public finance, government management, health and human services and...

CDFA Bookstore

Cover thumbnail Revolving Loan Fund Reference Guide
The Revolving Loan Fund Reference Guide offers an in-depth look at RLF program development, implementation and management. This guide demonstrates how an RLF program can complement economic development strategies, encourage investment and assist traditionally underserved businesses.

New Members

Spottswood Community Development Corporation, Inc. - New Orleans, LA

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 about CDFA, visit www.cdfa.net or e-mail 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

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner 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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor