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COVID-19 Weekly Briefing - Federal, State, and Local Responses to COVID-19

On the March 27, 2020, Weekly COVID-19 Development Finance Briefing, we discussed how Development Finance Agencies have initially responded to COVID-19, examined Congressional legislation, analyzed how federal agencies are reacting, and looked at a few exemplary state and local financing programs.


Note: The audio may take several seconds to play due to the large size of the file.

CDFA COVID-19 Resource Center
CDFA COVID-19 Comprehensive Recovery Strategy
View All Briefings

Agenda

Opening Remarks - 0:00
Katie Kramer, Moderator
Vice President
Council of Development Finance Agencies

A Call to Action: Development Finance Agencies - 2:48

Toby Rittner, DFCP
President & CEO
Council of Development Finance Agencies

  • The national response
  • How DFAs have risen to the challenge
  • Recommendations for portfolio analysis: bonds, TIF, revolving loan funds
Congressional Development Finance Responses - 17:46
Eric Silva
Legislative Representative
Council of Development Finance Agencies
    • Actions in the Senate
    • Actions in the House of Representatives
    • $2 Trillion CARES Act (NPR analysis)
    • S. 3551 to Reintroduce the State Small Business Credit Initiative (SSBCI)
    • Future bills and Congressional actions

    Federal Development Finance Responses - 31:35
    Katie Kramer, Moderator

    • Appropriations to federal agencies
      • EDA: $1.5 billion for economic development grants
      • MEP: $50 million, plus cost match waived for FY2020
      • USDA Rural Development: $145 billion; $1 billion for B&I loan guarantee
      • HUD: $17.4 billion; $5 billion for CDBG
      • SBA: $7 billion for disaster loans; $562 million to administer disaster loans

    State Development Finance Responses - 34:34
    John Saris
    Business Services Manager
    Business Oregon

    • Actions being implemented by Business Oregon
    • Budget pressures and long-range recovery planning
    • Exemplary financing programs from state DFAs:
      • New Jersey Economic Development Finance Authority
      • Maryland Department of Commerce
      • Iowa Economic Development

    Local Development Finance Responses - 45:00
    Katie Kramer, Moderator

    • Exemplary financing programs from local DFAs
      • St. Louis Partnership + St. Louis Development Corporation
      • Invest Atlanta
      • Philadelphia Industrial Development Corporation
      • Urban Redevelopment Authority of Pittsburgh
      • Erie Regional Chamber and Growth Partnership
      • North Carolina Rapid Recovery

    Audience Questions & Panelist Discussion - 49:55

    About the Weekly COVID-19 Development Finance Briefings

    CDFA hosted weekly briefings about development finance COVID-19 news and resources. These one-hour phone calls featured legislative updates, news from our members, state and local financing strategies, and lessons learned from previous development finance responses to disasters. The briefings were held every Friday at 1:00 PM (Eastern) from March 27 - May 15, 2020.


    Learn More

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