Development Finance Review Weekly - October 2, 2025
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| Features |
2024 Franzini Fellow Charity Karanja, DFCP, Named One of The Bond Buyer's Rising Stars
Charity Karanja was honored in Boston, Massachusetts, by The Bond Buyer as a Rising Star. Only 26 professionals throughout the country are chosen each year by The Bond Buyer, a century-old U.S. daily national trade newspaper based in New York City that focuses on covering the municipal bond industry. Butler Snow recognizes Karanja as a "Pro Bono Champion."
Aternium Announces $1M Investment from State of Delaware
Aternium marked its two-year anniversary with a special event highlighted by an announcement that the State of Delaware is investing $1 million in the innovative company. This funding will be used to propel Aternium to its next phase of engineering on its way to producing industrial clean hydrogen. The State of Delaware's $1 million investment in Aternium comes from the Delaware Accelerator & Seed Capital Program (DASCP), one of four programs awarded under the State Small Business Credit Initiative (SSBCI) federal program from the U.S. Treasury Department. The Division of Small Business is administering Delaware's $60.9 million SSBCI award aimed at providing access to capital for start-up and early-stage businesses.
CDRLF Grant Round Offers More Opportunities
The National Credit Union Administration (NCUA) announced the availability of funding for low-income-designated (LID) credit unions through the Community Development Revolving Loan Fund (CDRLF). This year, the NCUA made changes to the grant program to provide LID credit unions with additional options when they apply for Community Development Revolving Loan Fund grants in 2025.
EPA Awards $1.2M Grant to Southeast NE Development District for Brownfields
U.S. Environmental Protection Agency (EPA) Region 7 Administrator Jim Macy presented a $1.2 million Brownfields Assessment Grant to the Southeast Nebraska Development District (SENDD). EPA has selected the Southeast Nebraska Development District to lead a Brownfields Assessment Coalition Grant. Grant funds will be used to conduct 30 Phase I and 15 Phase II environmental site assessments, develop 16 cleanup plans and support reuse planning and community engagement activities.
How a Simple Tax Incentive Could Mobilize Billions in Private Investment for Sustainable Development
As aid budgets shrink and development needs surge, we face a critical question: how can we mobilize more private capital for global development, quickly, at scale, and without breaking the public purse? There are sizeable pools of untapped capital, particularly among high-net-worth individuals (HNWI) and family offices, which could be nudged into financing impactful investments if the government offered one simple, proven incentive: tax relief on impact bonds.
How Stocks & Bonds Have Reacted to Past Government Shutdowns
The government shutdown has suspended government agency operations, delayed the release of key economic data this week, and will impact certain government-funded benefits programs. For markets, that means no jobs report, no CPI, and no key updates, so investors lose a major compass until funding returns.
Amherst Municipal Affordable Housing Trust to Deploy $1.34M in Development Funds
With well over $1 million in hand to support future housing developments for low- and moderate-income families and individuals, the Amherst town committee is looking to use that money to spur developers interested in pursuing development projects. Funds could be used for some form of revolving loan or grant initiative made available to developers.
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| Upcoming Events |

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| Upcoming Webcasts |
CDFA // BNY Development Finance Webcast Series: Avoiding the Potential Pitfalls in Bond Deals
October 21, 2025 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series panelists will share what you need to know to avoid a bond deal going bad due to variety of reasons, ranging from issuer defaults and economic downturns to changes in interest rates, inflation, and political instability.
SSBCI Coalition Meeting - Virtual
October 31, 2025 - 1:00 PM - 2:00 PM Eastern
Each month, CDFA hosts SSBCI Coalition meetings where we provide updates, insights, and opportunities for networking and problem-solving. These meetings allow you the chance to connect with peers and stay informed on the latest developments. The SSBCI Coalition is available to CDFA Members only. There is no cost to attend SSBCI Coalition meetings.
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| Job & RFP Postings |
Invest Atlanta - Procurement Specialist
The Procurement Specialist provides in-depth research and analytical support for requisitions in a variety of procurement activities. In consideration of skill level and capability, this position will assist in the managing of micro purchase and small purchase requests and assist in the development and disposition of competitive solicitations for Invest Atlanta Departments. A successful candidate will have the ability to assist in the execution of procurement strategies designed to maximize customer satisfaction, minimize costs and ensure compliance with regulations and policies. In addition, this position will assist with post-award activities such as contract administration and supplier relationship management.
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| This Week's Headlines |
Spartanburg Methodist College Finances, Refinances With $4.5 Million in JEDA Bonds – JEDA
JEDA South Carolina | Oct. 1 | Bond Finance | Education | Infrastructure Finance
Wyden Unveils Investigation of Crypto Billionaire's Tax Scheme Involving Puerto Rico Residency Scam
Senate Committee on Finance | Oct. 1 | Federal
Catastrophe Bond Investors Betting on Disasters are Helping Make Insurance Affordable
CBS News | Sep. 30 | Bond Finance | Disaster Recovery & Relief
CDFI Fund Revises Climate, Race Considerations in Application Process
ABA Banking Journal | Sep. 30 | Access to Capital | U.S. Dept. of Treasury | U.S. Dept. of Treasury CDFI Fund
Credit Rating Agencies Flag Property Tax Bill for Creating "Uncertainty" for Local Bonds
Indiana Capital Chronicle | Sep. 30 | Bond Finance
Hunton Serves as Bond Counsel for Landmark $1.03B Hartsfield-Jackson Atlanta International Airport Green Bond Offering
Hunton | Sep. 30 | Bond Finance | Infrastructure Finance
Nex-Tech Loans $50,000 to Support Restaurant in Waldo
KRSL | Sep. 30 | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development
Treasury Department Announces New Appointment
The Department of the Treasury | Sep. 30 | Economic Development | Federal | U.S. Dept. of Treasury
Trump ‘Baby Bonds' Lack Potential to Fix Generational Wealth Gap
Bloomberg Tax | Sep. 30 | Bond Finance | Federal | Legislative | Tax Credits
USDA Designates Butler and Lawrence Counties in Pennsylvania as Disaster Areas
Quiver Quantitative, Inc. | Sep. 30 | Disaster Recovery & Relief | U.S. Dept. of Agriculture (USDA)
U.S. Department of Commerce Announce SelectUSA Investment Summit
U.S. Department of Commerce | Sep. 30 | Economic Development | International | U.S. Dept. of Commerce (DOC)
Hospitals Power a New Wave Of Healthcare Investment
GlobeSt. | Sep. 29 | Economic Development | Healthcare
Organizations, City of Kiel Work to Revitalize Small Downtown
Spectrum News 1 | Sep. 29 | Economic Development | Revolving Loan Funds (RLFs)
State to Offer $100,000 Loans to Rapidly Expand Child Care Centers to Meet Universal Care Deadline
NM Political Report | Sep. 29 | Community Development | Revolving Loan Funds (RLFs) | State Finance Program
Would The US Government Want To Issue CAT Bonds At Scale To Finance Losses From Climate Change?
Forbes | Sep. 29 | Bond Finance | Disaster Recovery & Relief
$350M in Bonds to Improve Abuquerque Shools to Appear on Ballot
KOB 4 | Sep. 29 | Bond Finance | Education
CEC Entertainment Closes $625MM Private Credit Term Loan, Amends Revolving Credit Facility
abladvisor.com | Sep. 28 | Revolving Loan Funds (RLFs) | Tax Credits
New Equity Fund Targets Financing Gap for Native Entrepreneurs
Tibal Business News | Sep. 28 | Economic Development | Tribal Finance
Millionaire Sen. Dave McCormick Favors Pa. ‘Muni' Bonds as Tax Shelter
WHYY | Sep. 27 | Bond Finance | Federal | Local Finance Program
Arkadelphia Entrepreneur Building Beauty Business with Purpose
arkadelphian.com/ | Sep. 26 | Economic Development | State Small Business Credit Initiative (SSBCI)
Iowa High Quality Jobs Program Awards To Spur $267M Of Investment
Business Facilities | Sep. 26 | Economic Development | State Small Business Credit Initiative (SSBCI)
Opportunity Zones 2.0: How Utah Plans to Make Economic Incentives Work Where They Previously Failed
Utah Business | Sep. 26 | Federal | Legislative | Opportunity Zones
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| National Sponsor Spotlight |
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RDF
RDF is a nonprofit Community Development Financial Institution (CDFI) dedicated to unlocking lasting prosperity in communities across America. Since its founding in 1999, RDF has provided responsible, attainable financial solutions to...
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private, and institutional clients. Their mission is to...
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Stifel Nicolaus
Stifel Nicolaus, founded in 1890, 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 our public and...
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| CDFA Bookstore |
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| New Members |
Los Angeles County Affordable Housing Solutions Agency - Los Angeles, CA
SouthState DuncanWilliams Securities Corp. - Katy, TX
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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.
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Council of Development Finance Agencies
425 Metro Place N., Suite 460
Dublin, OH 43017
(614) 705-1300
info@cdfa.net
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