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Development Finance Review Weekly - March 26, 2020

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Development Finance Review Weekly
March 26, 2020
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CDFA Development Finance Review Weekly

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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!

CDFA Announces 2020 Class of Caren S. Franzini Fellowship
The Council of Development Finance Agencies is honored to announce the 2020 class of the Caren S. Franzini Fellowship. Join CDFA in congratulating Angela Bolden with the Local Initiative Support Corporation, Alessandra Desiderio with Colorado Lending Source, Tiffany McClelland with the Lorain Port Authority, and Megan Sullivan from the Vermont Economic Progress Council.

COVID-19 Stimulus Phase 3 Supplemental Appropriations Summary
This is a Summary of the Supplemental Appropriations included in the Senate's third COVID-19 Stimulus package. More than 80% of the total $339.855 billion provided in the emergency supplemental appropriations goes to state and local governments and communities.

USDA Implements Measures to Help Affected Rural Residents, Businesses, Communities
USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep its customers, partners, and stakeholders continuously updated as more actions are taken.

CDFA Publishes COVID-19 Resource Center, Will Host Weekly Briefings
CDFA developed the COVID-19 Resource Center to serve as a central hub of everything the development finance world is doing to mitigate the impacts of COVID-19. CDFA's Weekly Development Finance COVID-19 Briefings will highlight these mitigation and recovery efforts.

Property Tax Impacts of COVID-19
As government officials continue to deal with the COVID-19 outbreak, property taxes and the systems that support them are in a constant state of flux. Vorys created this list detailing how state and local efforts impact property taxation, assessments, and dispute resolution.

SBA Makes Economic Injury Disaster Loans Available to Small Businesses in All States
Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19) through the Economic Injury Disaster Loan Program.

Coronavirus Threatens Rural Hospitals Already At The Financial Brink
Rural hospitals may not be able to keep their doors open as the coronavirus pandemic saps their cash just as communities most need them. Institutions also find themselves needing to pay higher prices for personal protective equipment such as face masks and other gear that is in short supply.

Senators Introduce Reauthorization of the State Small Business Credit Initiative
CDFA is pleased to announce that Senators Gary Peters (D-MI), Debbie Stabenow (D-MI), Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) have introduced a bill to reauthorize the State Small Business Credit Initiative (SSBCI) in the U.S. Senate as S. 3551.

Upcoming Events
Intro Property Assessed Clean Energy (PACE) Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

$2 Trillion Emergency Relief Includes Muni Market Provisions
A Coronavirus Relief fund of $150 billion would be shared among state, local and tribal governments while the Federal Reserve would be authorized to purchase all types of municipal bonds under the $2 trillion package the Trump administration has agreed to with the Senate.

New York MTA, Amid 'Biggest Liquidity Crisis Ever,' Downgraded by S&P
New York's Metropolitan Transportation Authority, in the midst of what Chairman Patrick Foye called the "biggest liquidity crisis ever" for the nation's largest mass transit system, received a downgrade from S&P Global Ratings.

MSRB Responds to COVID-19 Rocking the Market
The Municipal Securities Rulemaking Board will be publishing daily data summaries, pushing back comment deadlines and suspending a price alert in response to market volatility and COVID-19 concerns. The MSRB published its first data summary Wednesday morning and plans to publish them every morning.

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

Weekly Development Finance COVID-19 Briefing
Every Friday, March 27 - May 29, 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.

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.

Job & RFP Postings

InvestAtlanta Seeking a Community Development Real Estate Analyst
The Community Development Real Estate Analyst (REA) for Invest Atlanta is responsible for providing underwriting, reporting, analysis, and programmatic support to the Director, Underwriting & Transaction Services (the "Director") within Community Development.

National Development Council Accepting Applications for P3 Project Manager
NDC is currently looking for an Economic Development Professional to provide project management services for its growing portfolio of Public‐Private Partnership (P3) projects.

Urban Redevelopment Authority of Pittsburgh Accepting Applications for Lending Officer
This position is for a Lending Officer in the Urban Redevelopment Authority of Pittsburgh's (URA) Center for Innovation and Entrepreneurship (CIE). This position is responsible for assisting the Director of CIE with the execution of URA financing programs and support of the URA's overall business startup, expansion, and attraction strategy.

This Week's Headlines

How Can We Alleviate Economic Insecurity During The Pandemic?
Urban Institute | Mar. 25 | Disaster Recovery & Relief | Economic Development

Fitch Ratings: Coronavirus Crisis Is Crushing Global GDP Growth
Fitch Ratings | Mar. 25 | Bond Finance | Disaster Recovery & Relief | Economic Development

Franklin County, OH Approves $1M to Help Small Businesses, Out-Of-Work Residents
The Columbus Dispatch | Mar. 24 | Access to Capital | Development Finance Toolbox | Incentives | Local Finance Program | Revolving Loan Funds (RLFs)

Making Sure COVID-19 Small Business Loan Programs Work
Smart Incentives | Mar. 24 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | State Finance Program

Small Farms and Independent Restaurants Rally for Economic Relief
Civil Eats | Mar. 24 | Disaster Recovery & Relief | Federal | Food Systems Finance

Fed Announces Unlimited Bond Purchases in Unprecedented Move to Prevent a Depression
The Washington Post | Mar. 24 | Bond Finance | Disaster Recovery & Relief | Federal

COVID-19: Impact on Financial Markets and Opportunity Zones
OpportunityDb | Mar. 23 | Disaster Recovery & Relief | Opportunity Zones

Fredericksburg, VA EDA Sets up Fund to Help Small Businesses
The Free Lance-Star | Mar. 23 | Access to Capital | Disaster Recovery & Relief | Local Finance Program

Supporting Small-to-Midsized Agriculture and Localized Food Distribution During COVID-19
Food System 6 | Mar. 23 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance

PR Unveils Record $787M Package to Fight Covid-19
ABC News | Mar. 23 | Access to Capital | Disaster Recovery & Relief

FHFA Moves to Provide Eviction Suspension Relief for Renters in Multifamily Properties
Federal Housing Finance Agency | Mar. 23 | Bond Finance | Disaster Recovery & Relief | Federal | Housing Finance

Capital Square Fully Subscribes OZ Fund for $7M for VA Mixed-Use Project
Capital Square | Mar. 23 | Housing Finance | Opportunity Zones

Philadelphia COVID-19 Small Business Relief Fund Accepting Applications
Philadelphia Dept. of Commerce and PIDC | Mar. 23 | Access to Capital | Disaster Recovery & Relief | Local Finance Program

Study Estimates $7.6T Economic Impact of Food & Ag
Feeding the Economy | Mar. 23 | Agriculture Finance | Food Systems Finance

Hospitals Putting Bond Issues on Hold Amid COVID-19 Outbreak
Modern Healthcare | Mar. 22 | Bond Finance | Disaster Recovery & Relief | Social Finance

Move by Fed May Help Shore Up Short-Term Borrowing for States and Localities
Route Fifty | Mar. 21 | Access to Capital | Bond Finance | Community Development | Disaster Recovery & Relief | Federal | Infrastructure Finance | Social Finance

Community Service Tax Credit Applications Open in KS
The Butler County Times-Gazette | Mar. 21 | Community Development | Disaster Recovery & Relief | Social Finance | Tax Credits

Public Finance Authority P3 Financings Bring Proton Cancer Treatment to University
Public Finance Authority | Mar. 20 | Bond Finance | Member News | Public-Private Partnership (P3) Financing | Social Finance

KS Starts Loan Program to Aid Bars, Restaurants, Motels
Salina Post | Mar. 20 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | State Finance Program

$500K Loan Fund Created for Food Businesses in Battle Creek, MI
Battle Creek Enquirer | Mar. 20 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance

Treasury Approves New Commercial Paper Funding Facility to Support Flow of Credit
U.S. Department of the Treasury | Mar. 20 | Bond Finance | Disaster Recovery & Relief | Federal


New Additions to the Online Resource Database

FAQs for SBA's Economic Injury Disaster Loan Program
Access to Capital | Disaster Recovery & Relief
This document contains Frequently Asked Questions for the SBA's Economic Injury Disaster Loans (EIDL) Program.

Business Survival Guide
Access to Capital | Community Development | Disaster Recovery & Relief
Created by Business Oregon's finance team, this resource guide is meant to help small businesses during the COVID-19 outbreak.


National Sponsor Spotlight

Stern Brothers Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...
Stifel Nicolaus Stifel Nicolaus
Stifel Nicolaus is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments, saving millions of dollars for their public and private sector clients.
U.S. Bank U.S. Bank
U.S. Bancorp (USB), with $416 billion in assets, is the parent company of U.S. Bank, the fifth largest commercial bank with more than 65,000 employees, and 3,151 offices in the United States.

Partner Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its web site, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail Practitioner's Guide to Economic Development Finance 2nd Edition
The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities.

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

  • 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
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • Petros PACE Finance
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
Become a Sponsor