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CDFA COVID-19 Recovery & Relief Update - October 20, 2020

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COVID-19 Recovery & Relief Update
October 20, 2020
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COVID-19 Recovery & Relief Update

Features

Pelosi Gives White House 48 Hours to Reach Coronavirus Stimulus Deal Before Election
House Speaker Nancy Pelosi has called on the Trump administration to reconcile remaining disputes on coronavirus stimulus legislation within 48 hours as lawmakers attempt to pass a bill before the 2020 election. Pelosi set the 48-hour deadline on negotiations after speaking with Treasury Secretary Steven Mnuchin on Saturday night for more than an hour. They agreed to speak again on Monday.

EIG Introduces the Distressed Communities Index
The Economic Innovation Group released the Distressed Communities Index (DCI), a timely research project that maps community well-being across the country down to the zip code scale. The report is accompanied by a digital mapping interactive that allows users to explore all of the data included in the DCI across zip codes, counties, and congressional districts.

To Better Address COVID, States Need to Use Data Better
The pandemic exposed many fault lines in our society, including our governments' failures to share and use data to help keep people safe. In many cases, this lack of information was due to holes in existing data gathering and sharing infrastructure. The systems that states use to report deaths often rely on hospitals, coroners, or even funeral directors using paper-based reporting.

Economics in Brief: The Depleted CARES Act Leaves More in Poverty Than Before Pandemic
Two new studies, one by Columbia University's Center on Poverty and Social Policy, the other by researchers at Universities of Chicago and Notre Dame, have found that since that federal aid from the CARES Act has dried up, poverty rates have risen to higher levels than before the pandemic. The latter study found that poverty rates have affected Black families disproportionately.

SBA, Treasury Announce ‘Simpler' PPP Forgiveness Process
The U.S. Small Business Administration and the U.S. Treasury Department are trying to simplify the forgiveness application process for Paycheck Protection Program loans of $50,000 or less. Announced this past week, the changes are aimed at streamlining the PPP forgiveness process to provide financial and administrative relief to America's smallest businesses.

NJEDA Launches Consulting Program for Businesses Hurt By COVID
The New Jersey Economic Development Authority has launched a free consulting program to help small businesses that have been impacted by the COVID-19 crisis. The Business Consulting for COVID-19 Recovery Program, which is still in a pilot phase, is open to all businesses with five or fewer employees that maintain a physical storefront or office in one of New Jersey's 169 Opportunity Zones.

Missouri Governor Awards Second Round of Emergency Broadband Investments
Governor Mike Parson announced 11 broadband projects will receive $846,407 through round two of the state's Emergency Broadband Investment Program. 465 Missouri households will be connected to broadband as a result of these projects, and nine of the projects will provide households the ability to access gigabyte service.

U.S. Department of Commerce Launches $25M SPRINT Challenge to Address Pandemic Through Entrepreneurship and Innovation
The U.S. Department of Commerce announced the opening of the EDA new Scaling Pandemic Resilience Through Innovation and Technology (SPRINT) Challenge, which will enable organizations across the country to address the economic, health, and safety risks caused by the coronavirus pandemic through entrepreneurship and innovation. The SPRINT Challenge is a $25 million national competition funded by the CARES Act.

Upcoming Events
CDFA Virtual National Summit: Financing Our COVID Recovery

CDFA-PFM Capital Markets Webinar Series: Pricing Private Activity Bonds in Complex Capital Stacks
October 22, 2020 - 2:00 - 3:30 PM Eastern
During this installment of the CDFA-PFM Capital Markets Webinar Series, project finance experts and issuers will discuss the viability of how private activity bond deals can fit into complex capital stacks.

Reframe, Build, Plan: Restoring America's Local Food Systems
Thursday, October 29, 2020 - 1:00 PM Eastern
CDFA recently released the final publication of the CDFA Food Finance White Paper Series, Advancing Local Food Systems Through Development Finance. Join us for an overview of this publication as we review CDFA's framework for expanding traditional financing and attracting capital to local food systems through the Reframe, Build, Plan approach.

Federal Financing Programs

Agency Seal U.S. Dept. of Treasury

Main Street Lending Program
The Main Street Lending Program supports lending to small and medium-sized businesses through loan participation.

Municipal Liquidity Facility
The Municipal Liquidity Facility supports lending to help state, city, and county governments manage cash flow pressures.

Agency Seal U.S. Small Business Administration (SBA)

Paycheck Protection Program (PPP)
PPP is a forgivable loan program designed to provide a direct incentive for small businesses to keep their workers on the payroll.


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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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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