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CDFA Rural Development Finance Update - December 19, 2023

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Rural Development Finance Update
December 19, 2023
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Rural Development Finance Update

Features

Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.

CDFA Community Facilities Technical Assistance Program in Action
The Community Facilities Program is provided by the U.S. Department of Agriculture (USDA) Rural Development to help support the financing and investment of essential facilities in rural communities. CDFA is proud to have provided technical assistance to four communities - Puna Region, Hawai'i; Lake City, SC; Southern Pines, NC; and Menominee County, WI. Learn more about the program and our resources, including the Rural Development Finance Toolkit!

$30.7M in Grants to Support Water Systems in Small and Rural Communities
The U.S. Environmental Protection Agency (EPA) announced the availability of up to $30.7 million in grant funding for technical assistance and training to support small drinking water and wastewater systems, including those in rural communities.

U.S. Department of Transportation Awards $220M for Rural Ferry Operations
The U.S. Department of Transportation's Federal Transit Administration (FTA) has confirmed the award of grants totaling $220.2 million from the Bipartisan Infrastructure Law to modernize the nation's ferry systems. The program focuses on expanding ferry service in rural communities, helping communities acquire modern ferry boats (including electric boats), and upgrading shore infrastructure to support low-emission ferry service.

White House Administration Partners With Agriculture Producers
As part of the inaugural meeting of the White House Council on Supply Chain Resilience, President Biden and U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA is making investments that will strengthen American food and agriculture supply chains, expand markets for agricultural producers, and lower food costs.

USDA Invests $2.3M in Oregon for Healthcare and Broadband
The U.S. Department of Agriculture (USDA) is investing $2.3 million in rural telemedicine help for Clatsop, Hood River, Marion, Wasco, and Yamhill counties. The funding, from USDA Rural Development, includes a first-in-the-nation Broadband Technical Assistance Program investment of $500,000 for Rural Prosperity Partners that will help address fundamental barriers faced by rural communities, giving Oregonians everywhere a fair shot at receiving state and federal broadband funding. 

More Than $22M in Investments for Rural Western Kentucky and Tennessee
Officials with the U.S. Department of Agriculture (USDA) announced more than $22 million in investments to benefit residents of western Kentucky and Tennessee. Funding will better equip local law enforcement, expand ambulance services, aid expansion at a bourbon distillery, improve water treatment, and implement a dental health care program in multiple county school systems.

$5.6M in Federal Financing for Block Island, RI Water Infrastructure Upgrades
In a significant win for public health, safety, and freshwater supply on Block Island, U.S. Senators Jack Reed and Sheldon Whitehouse and Congressman Seth Magaziner announced that the federal government is investing $5.6 million to upgrade water infrastructure.

Upcoming Events
Fundamentals of Economic Development Finance WebCourse

Intro Bond Finance WebCourse
March 4-5, 2024 - Daily: 12:00-5:00 PM Eastern
The Intro Bond Finance Course 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.

Advanced Bond Finance WebCourse
March 6-7, 2024 - Daily: 12:00 PM - 5:00 PM Eastern
The Advanced Bond Finance Course is designed for professionals who already have an understanding of tax-exempt financing and seek detailed instruction on complex financing techniques. Expert speakers will explore topics including the application of financial derivatives, advance refundings, investing bond proceeds, and how to spot arbitrage issues.

USDA Rural Development News

USDA and EPA Improve Access to Modern and Affordable Wastewater Infrastructure
The U.S. Department of Agriculture (USDA) Rural Development Deputy Under Secretary Farah Ahmad announced that USDA is strengthening its partnership with the U.S. Environmental Protection Agency (EPA) and a network of 25 organizations to help people in rural and underserved communities access affordable, modern, and safe wastewater infrastructure.

USDA and SBA to Create Jobs and Economic Growth in Rural America
The U.S. Department of Agriculture (USDA) Deputy Secretary Xochitl Torres Small announced that USDA is strengthening its longstanding partnership with the Small Business Administration (SBA) to create jobs and expand access to new and better market opportunities for people in rural America.

Projects Create Economic Opportunity in Underserved Rural and Native American Communities
The U.S. Department of Agriculture (USDA) Rural Development Deputy Under Secretary Farah Ahmad announced more than 200 projects to improve infrastructure, housing, and economic conditions for underserved rural and Native American communities. These projects are funded by an $80.1 million investment from USDA.

USDA Invests Nearly $28M to Support Beginning Farmers and Ranchers
The U.S. Department of Agriculture (USDA) Deputy Secretary Xochitl Torres Small announced an investment of $27.9 million across 45 organizations that teach and train beginning farmers and ranchers, including programs for U.S. veterans who are entering into agricultural careers and starting new farming businesses.

Alabama USDA Rural Development Provided $24M in Home Loans in FY 2023
The City of Glencoe was the most recent community to become eligible for Alabama USDA's Rural Development home loans, but much of the state has rural status. In fiscal year 2023, more than $24M was loaned through the Alabama USDA for direct home loans in rural areas.


Rural Development Finance News

USDA Provides Millions to Vermont and New Hampshire for Rural Energy Programs
VermontBiz | Dec. 15 | Energy Finance | Infrastructure Finance | Rural Development

U.S. Department of Transportation Announces $645M for Rural Transportation
U.S. Department of Transportation | Dec. 12 | Infrastructure Finance | Legislative | Rural Development | U.S. Dept. of Transportation (DOT)

How States Can Unlock Equitable Electrification with IRA Home Rebates
USGBC | Dec. 5 | Energy Finance | Housing Finance | Resiliency | Rural Development | Tax Credits | U.S. Dept. of Energy (DOE)

USDA Rural Development Invests More Than $400K in Kansas
Sentinel-Times | Nov. 29 | Economic Development | Infrastructure Finance | Rural Development

USDA Invests $1.2M to Expand Markets and Create Jobs in Five Wisconsin Counties
We Are Green Bay | Nov. 28 | Agriculture Finance | Economic Development | Rural Development

Shamokin Creek Group in Pennsylvania Gets $500K Environmental Grant
The Daily Item | Nov. 27 | Brownfield Financing | Infrastructure Finance | Rural Development | Tribal Finance | U.S. Environmental Protection Agency (EPA)

USDA Invests $1.5M for Education in Rural Oklahoma
FOX23 | Nov. 21 | Economic Development | Education | Rural Development

Illinois Rural Cooperatives Receive More Than $4M in Grants and Loans From USDA
Effingham Radio | Nov. 18 | Economic Development | Redevelopment | Rural Development

Panel Approves Another $12.5M in Federal Aid for Rural Arkansas Hospitals
Arkansas Advocate | Nov. 14 | Community Development | Healthcare | Rural Development

Montana Receives $1M Grant to Increase Opportunity in Rural, Tribal Communities
NBC Montana | Nov. 9 | Economic Development | Redevelopment | Rural Development

Rural Pennsylvania Receives $3.6M for Renewable Energy
The Allegheny Front | Nov. 9 | Energy Finance | Redevelopment | Rural Development

27 West Virginia Rural Development Projects Receive Funding
12WBOY | Nov. 3 | Infrastructure Finance | Redevelopment | Rural Development

More Than $171M to Support Rural Communities in South Carolina
The Berkeley Independent | Nov. 2 | Infrastructure Finance | Redevelopment | Rural Development

White House Announces Over $5B to Support Rural Communities
U.S. Department of Agriculture | Nov. 1 | Economic Development | Rural Development

President Biden Boosts Biofuels, Rural Utility Projects
The Gazette | Nov. 1 | Energy Finance | Redevelopment | Rural Development


The Council of Development Finance Agencies (CDFA) 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 www.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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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon 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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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