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Development Finance Review Weekly - June 5, 2025

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Development Finance Review Weekly
June 5, 2025
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CDFA Development Finance Review Weekly

Features

Apply for the CDFA Mentorship Program - Thrive Together, in Collaboration with U.S. Bank and CHFA
We encourage you to fill out a brief application and join us for the inaugural year of this new exclusive benefit for CDFA Members! Guided by the belief that we thrive together, this group and self-guided program connects seasoned industry experts with individuals seeking guidance, support, and direction in their careers. So, elevate your professional journey and impact by applying to join as a mentor or a mentee! The application period is open now until June 18, so mark your calendars, apply, and commit to joining us as we Thrive Together!

Narratives vs. Fundamentals: Battle in the Bond Market
U.S. Treasury yields are volatile, with the 10-year yield exceeding its fair value by roughly 64 basis points. This divergence stems from market narratives, including concerns over rising federal deficits and inflationary pressures from tariffs, which influence investor sentiment beyond traditional indicators. Although inflation has declined toward the Federal Reserve's 2% target, yields remain elevated, suggesting factors beyond core fundamentals are at play. Understanding the interplay between short-term market narratives and long-term economic fundamentals when planning and financing projects is crucial for effective risk assessment and strategic decision-making in the current fiscal landscape.

Wall Street Warns: U.S. Bond Market Faces 'Decade of Reckoning' Amid Fiscal Strains
Financial leaders are sounding alarms over the U.S. bond market's stability, citing escalating national debt and fiscal policies under the Trump administration. JPMorgan Chase CEO Jamie Dimon predicts a potential "crack" in the bond market, attributing it to the administration's proposed budget, which could add over $3.3 trillion to the deficit by 2034. The Congressional Budget Office projects federal debt to reach 117% of GDP within a decade, raising concerns about the nation's fiscal trajectory.

Advocates Rally Nationwide to Defend Food System Amid New Administration Cuts
The National Sustainable Agriculture Coalition (NSAC) led a Week of Action to protest the Trump administration's funding freezes and program terminations affecting farmers and local food systems. Key concerns included the abrupt cancellation of USDA programs which supported small and underserved producers. Advocates also promoted the Agriculture Resilience Act, aiming to enhance climate-smart farming practices. The campaign mobilized thousands to urge Congress to reinstate critical funding and protect USDA staff from dismissals. For development finance and community development professionals, these developments highlight the need for sustained advocacy and investment in resilient, equitable food systems.

Don't Miss the CDFA Intro Housing Finance Course!
Join us for the Intro Housing Finance Course on June 25-26! The impact of housing on economic development efforts is a critical issue in many communities. This course will explore how the development finance toolbox can be utilized to support a myriad of housing challenges and opportunities. Register by Friday, June 6 for early bird rates!

Upcoming Events
CDFA Summer Institute: Fundamentals of Economic Development Finance Course
Upcoming Webcasts

CDFA // BNY Development Finance Webcast Series: Leveraging Development Impact Bonds (DIBs) in Underserved Areas
June 17, 2025 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series panelists will discuss their experience utilzing DIB's to mobilize private capital to fund projects with the goal of addressing critical issues in underserved regions, such as poverty, education, healthcare, and infrastructure.

CDFA Food Systems Finance Webinar Series: Sustaining Food and Farm Investment Amid Federal Funding Shifts
June 24, 2025 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we'll explore how food systems projects can remain viable and impactful amidst shifting federal priorities and how practitioners across sectors continue building creative financial frameworks to move their work forward. Speakers will share lessons learned and strategies for structuring capital stacks, leveraging remaining federal tools, and identifying flexible sources of financing that support food and farm entrepreneurs.

Job & RFP Postings

Kroll - Senior Associate, Site Selection & Incentives Advisory
The Site Selection & Incentives Advisory (SSIA) practice, within Kroll's Tax Services unit, is seeking a skilled Senior Associate to join the SSIA practice. This position will collaborate with clients and internal teams to define criteria for site selection, including economic, demographic, and logistical factors, collect and analyze data from public and private data sources and stakeholders, including economic indicators, tax policies, and incentive programs, to support site selection decisions, prepare project pitch presentations to be delivered to stakeholder groups during site selection or incentives negotiation and approvals, and more. This role is hybrid based in one of our offices in Austin, Houston, or Dallas/Richardson in Texas.

This Week's Headlines

Bond Market ‘Caught in the Middle' Amid Trump Tax Bill Push, Tariff Risk
Yahoo! Finance | Jun. 3 | Bond Finance | Legislative

EPA, Park Service Take Big Hits in Latest Trump Budget Plan
The Hill | Jun. 2 | Disaster Recovery & Relief | Economic Development | Energy Finance | Federal | U.S. Environmental Protection Agency (EPA)

FY26 Budget Proposes Cuts to Community Finance and Disaster Relief Programs
America's Credit Unions | Jun. 2 | Access to Capital | Community Development | Revolving Loan Funds (RLFs) | U.S. Small Business Administration (SBA)

Inflation Pressures Reshape Farm Finance Strategies
Morning AgClips | Jun. 2 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Food Systems Finance | Green Finance | Resiliency | Rural Development

Sustainable Ag Practices Drive Revenue Growth for 70% of Companies
TRELLIS | Jun. 2 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Food Systems Finance

USDA Boosts State Food Safety Funding by $14.5M
USDA | Jun. 2 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Food Systems Finance | Infrastructure Finance

Valparaiso, IN Approves $117M Bond to Revitalize University Amid Financial Challenges
The Chicago Tribune | Jun. 2 | Bond Finance | Community Development | Economic Development | Education | Infrastructure Finance

Bond Market Raises Alarms Over U.S. Fiscal Stability Under New Administration
The Hill | May. 31 | Bond Finance | Community Development | Economic Development | Infrastructure Finance

Florida Community Loan Fund provided New Markets Tax Credit Allocation for Harry Chapin Food Bank
Florida Community Loan Fund | May. 30 | Food Systems Finance | Member News | Tax Credits

Florida Community Loan Fund Publishes its 2024 Annual Report: Strengthening Communities
Florida Community Loan Fund | May. 30 | Community Development | Economic Development | Member News

Innovative Financing Fuels CSA Growth: New Avenues for Local Food System
FarmstandApp | May. 30 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Food Systems Finance | Infrastructure Finance | Resiliency | Rural Development


National Sponsor Spotlight

Frost Brown Todd LLP Frost Brown Todd LLP
With over 600 lawyers across their eight-state footprint, Frost Brown Todd LLP offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
Grow America | Formerly NDC Grow America | Formerly NDC
NDC is now Grow America. In a time of unprecedented growth, we're proud to be the country's first and most dedicated community and economic development nonprofit. For over five decades, we have worked to improve the lives of millions of people...
Hawes Hill and Associates LLP Hawes Hill and Associates LLP
Hawes Hill & Associates (HHA) concentrates on economic and community development and public financing consulting using special purpose districts, real estate incentives, and other public financing tools. Throughout its nearly 30-year history, HHA...

CDFA Bookstore

Cover thumbnail Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital, and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment, and job creation.

New Members

BBIF Capital - Orlando, FL

Nor-Cal Financial Development Corporation - Oakland, CA

Berkshire Regional Planning Commission - Pittsfield, MA

OpenGov Inc. - Boston, MA

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
425 Metro Place N., Suite 460
Dublin, OH 43017
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY
  • 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.
  • PGAV Planners, LLC
  • RDF
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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