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CDFA Rural Development Finance Update - February 16, 2021

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Rural Development Finance Update
February 16, 2021
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Rural Development Finance Update

Features

New Mexico Outdoor Recreation Division Announces New Toolkit to Support Rural Outdoor Economies
The NM Outdoor Recreation Division announced the development of the Rural Economic Development Toolkit, an effort to help rural communities better their outdoor economies.

Utah's Economic Development Engine Could Get an Overhaul
House Bill 348, sponsored by Rep. Timothy Hawkes, R-Centerville, and Senate Majority Whip Ann Millner, R-Ogden, institutes some big changes in how Utah's economic development agencies work. It would set up a commission of political leaders and industry stakeholders to focus on "economic opportunity."

To Fix Rural Problems We Have to Overhaul Existing Rural Programs
The incoming Biden/Harris administration has signaled that it has big plans for rural America. But according to a report from the Brookings Institute, the tools that make up federal rural strategy are themselves in need of a makeover. 

Alabama Spotlighting Rural Economic Opportunities
The state's Department of Commerce today unveiled the "RurAL" website along with a marketing campaign trumpeting opportunities away from the cities. It's the latest move over the last few years to direct investment and opportunity to Alabama's small towns and underdeveloped counties with fewer than 50,000 people.

Gov. DeSantis Announces $348K in Grant Awards to Support Rural Florida Economic Development
Governor Ron DeSantis announced $348,400 has been awarded to 14 rural counties and cities for site preparation projects. The awards are part of Enterprise Florida's Rural Expansion Toolkit initiative to assist rural communities with broad-based economic engagement and capacity building efforts.

LTD Broadband Taps Aviat Networks for Key Role in Rural Broadband Network Expansion
LTD Broadband, an internet service provider and top recipient in the U.S. government's Rural Digital Opportunity Fund auction with a total of $1.3 billion in funding, will deploy Aviat's WTM 4000 microwave and multi-band platform systems in its network middle mile and for fiber redundancy.

Rural Communities are Finally Getting Attention. So Where Do We Go from Here?
Revitalizing rural America has garnered more attention in the past four years. Despite this renewed interest, reports continue to identify a growing divide between America's urban centers and rural heartland. The unique challenges and misconceptions facing rural communities continue to hinder economic and educational progress. These obstacles - further exacerbated by the COVID-19 pandemic - raise several questions about the sustainability of rural communities.

EPA Releases 2020 Report on Supporting Rural America
The U.S. Environmental Protection Agency released its 2020 Support of Rural America Report which highlights key scientific decisions and successful partnerships that directly impact rural communities across the country, and ultimately, our nation's food supply.

Upcoming Events
CDFA Federal Financing Webinar Series: Expanding Capital Access to Preserve Small Businesses

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. 

CDFA-Bricker PACE Webinar Series: How PACE Gets Utilized Across All Market Segments
Tuesday, March 30, 2021 - 2:00 PM - 4:00 PM Eastern
PACE can be used for new construction, existing building renovations, or refinancing. Each market segment has its own view of why PACE is valuable and this workshop will provide insights and details into each.

USDA Rural Development News

Fact Sheet: Update on USDA Activities to Contain the COVID-19 Pandemic
The USDA is responding to President Biden's call for all parts of the federal government to contribute resources — facilities, personnel, and expertise — to contain the pandemic. The USDA is offering its personnell, facilities, cold chain infrastructure, public health experts, disaster response specialists, and footprint in rural areas and Tribal communities across the country to help contain the pandemic and get the economy back on track.

USDA Announces Completion of $10.6M Wastewater System Upgrade for Pacific City, OR
Pacific City in northwest Oregon has completed a $10.6 million upgrade of its wastewater treatment plant. With an $8.7 million loan and a $1.9 million grant provided through USDA's Water and Waste Disposal Program, this municipal infrastructure project has expanded the system's capacity, setting the foundation to support future growth and a vibrant tourist economy in this rural community of 1,035 people while also protecting the natural environment.

Biden Administration to Give Debt Relief to 12,000 Farmers
The Biden administration will announce debt-relief measures Wednesday for more than 12,000 financially distressed farmers. The U.S. Department of Agriculture will temporarily suspend past-due debt collections and foreclosures for farmers borrowing under two major loan programs administered by the Farm Service Agency, administration officials said.


Rural Development Finance News

Holton, IN Receives Economic Development Planning Grant
Eagle Country Online | Feb. 16 | Rural Development

West Virginia Income Tax Cut on Legislative Wishlist
WV Metro News | Feb. 16 | Education | Rural Development

EPA Announces $220M for Uranium Mine Site Clean-Up on the Navajo Nation
Indian Country Today | Feb. 15 | Brownfield Financing | Energy Finance | Federal | Rural Development | Tribal Finance | U.S. Environmental Protection Agency (EPA)

Local Governments Welcome Introduction of Coronavirus Relief Package with Essential Aid
NACo | Feb. 10 | Community Development | Disaster Recovery & Relief | Legislative | Member News | Rural Development | COVID-19

$10M FCC Grant to Expand Broadband Service in Houston, MS
Chickasaw Journal | Feb. 10 | Federal | Infrastructure Finance | Rural Development | Broadband

New Mexico Broadband Bill Passes First Committee
Santa Fe New Mexican | Feb. 9 | Infrastructure Finance | Legislative | Rural Development | Broadband

CDFA Releases Policy Priorities for the Biden-Harris Administration
CDFA | Feb. 5 | Access to Capital | Agriculture Finance | Bond Finance | Brownfield Financing | CDFA Press Releases | Disaster Recovery & Relief | Economic Development | Energy Finance | Federal | Green Finance | Housing Finance | Infrastructure Finance | Innovation Finance | Legislative | Opportunity Zones | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits | Tax Increment Finance (TIF) | COVID-19 | Legislative Front

CDFA to Host Free Webinar on Restoring the Hospitality Industry
CDFA | Feb. 4 | Community Development | Disaster Recovery & Relief | Economic Development | Rural Development | Social Finance

Local Legislators Work on Topics Ranging From Rural Economy and Mental Health
Sanpete Messenger | Feb. 3 | Rural Development | Tax Credits

West Virginia Investment, Economic Development Interest Soars Amid Pandemic
WV News | Jan. 31 | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs) | Rural Development | COVID-19

Ohio EPA Awards $15M in Financing to Southeast Ohio Communities
My Daily Tribune | Jan. 29 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | State Revolving Fund

Baldwin, KS City Council Starts the Process on $2.86M Bond Sale, Approves New Transparency Policy for Debt
Lawrence Journal-World | Jan. 27 | Bond Finance | Rural Development

Pandemic Worsens Broadband Access Gap
Beloit Daily News | Jan. 27 | Infrastructure Finance | Rural Development

CDFA Resources

Build America Bureau - Credit Programs Guide (TIFIA & RRIF)
Infrastructure Finance | Rural Development
This resource guide from the Build America Bureau covers the objectives and provides an overview of how the TIFIA and RRIF credit programs operate. This includes details about the required terms for individual credit instruments, how these instruments are funded, eligibility requirements concerning types of projects, activities, cost limits, and applicants, the process by which potential applicants may apply for credit assistance, and more.

CDFA Federal Financing Webinar Series: Restoring Local Economies with Federal Partners
Community Development | Disaster Recovery & Relief | Infrastructure Finance | Resiliency | Urban Development | Webcasts | Access to Capital | Bond Finance | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development
The first installment of the 2021 CDFA Federal Financing Webinar Series covered the various forms of financing programs available to state and local governments through HUD, EDA, and DOT for restoring local economies.

POWER Initiative Evaluation: Factors and Results of Project Implementation
Community Development | Economic Development | Energy Finance | Rural Development
This report by Chamberlin/Dunn offers an evaluation of two consecutive years (FY19-FY20) of the Appalachian Regional Commission's POWER Initiative. The report aims to understand successes, challenges, and lessons learned through implementation, and it also examines early results of POWER projects.

Success Factors, Challenges, and Early Impacts of the POWER Initiative: An Implementation Evaluation
Community Development | Economic Development | Energy Finance | Rural Development
This evaluation was designed to help ARC and its stakeholders learn from the POWER Program's implementation successes and challenges; identify technical assistance needs; and report on the qualitative impact of investments made, to date, with POWER funds.


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

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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