With the national election concluded, President Trump and the 119th Congress will take office in January 2025. With this change comes the opportunity for the development finance industry to work with our newly elected federal leaders to continue to improve the tools that support local, regional, and state economic development. New leadership allows us to explore new ideas, improve existing financing tools, and usher in a new wave of collaboration between our federal leaders and local economic development stakeholders.

CDFA President & CEO, Toby Rittner, was recently featured in The Bond Buyer! He discussed the CDFA Administration Transition Paper and what it means for the future of public finance. One key concern is the possibility of eliminating the tax-exempt status of municipal bonds, which would raise borrowing costs for governments. Rittner emphasized the need for the new administration to support state and local government financing to ensure continued economic growth. He highlighted that policy uncertainty could lead to challenges, but stressed the importance of maintaining investment in infrastructure and local projects for future prosperity. Check out the full story to learn more!

Development Capital Networks (DCN) is pleased to announce John Saris has joined its team as Credit Portfolio Manager. In this role, he will oversee credit support programs, including client funds allocated through the U.S. Treasury State Small Business Credit Initiative (SSBCI). These credit support programs aim to increase lending to small businesses through private lenders, primarily community banks, credit unions, and Community Development Financial Institutions (CDFIs). John is uniquely suited for this role, with 15 years of economic development and credit administration experience at Business Oregon, the state's economic development agency, and nine years of retail and business banking experience at US Bank.

CDFA is pleased to announce Joe Lohman, Director of Finance for Port KC, in Kansas City, MO, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Mr. Lohman joins the ranks of fellow graduates who have invested in their professional development and are recognized as emerging leaders in the development finance industry.

Warrior Rising, a national non-profit supporting veteran entrepreneurship, has announced strategic partnerships with Parlay Finance and Live Oak Bank to deploy $100 million in capital to veteran-owned businesses. The collaboration aims to provide comprehensive support through education, coaching, mentorship, and financial resources. Additionally, Warrior Rising has acquired LaunchPlan™, a software tool that will enhance their learning management system by integrating business planning and mentorship capabilities.

CDFA is excited to partner with the Texas Economic Development Council (TEDC) for the CDFA-TEDC Webinar: Driving Economic Development Through Revolving Loan Funds webinar. The webinar will explore how revolving loan funds (RLFs) drive economic growth in Texas. Participants will learn about the mechanics of RLFs, hear successful case studies, and gain best practices for leveraging these funds to support local development. Local government officials, economic developers, and community leaders will walk away with actionable insights to maximize the impact of RLFs in their communities. Register by Sunday, November 17, 2024, to secure your spot!

MassDevelopment has issued a $105.82 million tax-exempt bond on behalf of the president and trustees of Williams College. The organization will use bond proceeds to finance several projects on the college's campus, including building and equipping a new art museum and multipurpose recreation center, implementing the college's energy and carbon master plan, renovating and equipping dormitories and dining facilities, reimbursing the college for costs incurred to build and equip the Davis Center, and completing other miscellaneous capital projects. The bonds were sold through a public offering with Goldman Sachs & Co. LLC serving as lead underwriter and B of A Securities, Inc. and Samuel A. Ramirez & Co., Inc. serving as co-managers.

Join CDFA for the final session in our Food Systems Finance Webinar Series as we explore the Reframe, Build, Plan framework for advancing food systems finance. This customizable approach focuses on restoring local and regional food systems while addressing the unique needs of communities. Our expert speakers will share insights on financing sustainable, equitable food systems. Register today!

The U.S. Department of Agriculture (USDA) announced an additional $250 million in automatic payments for distressed direct and guaranteed farm loan borrowers under Section 22006 of the Inflation Reduction Act. This significant step continues USDA's commitment to keeping farmers and ranchers financially viable and supporting agricultural communities. Over the past two years, the USDA acted swiftly to assist borrowers in retaining their land and continuing their agricultural operations. Since President Biden signed the Inflation Reduction Act into law in August 2022, the USDA has provided approximately $2.4 billion in assistance to more than 43,900 distressed borrowers.

The Program Manager position is responsible for the development, implementation and management and monitoring of the State of Maryland's federally-funded HOME Investment Partnership Program (the 'Home Program'). This position also implements the oversight of the HOME American Rescue Plan Program (ARP) to ensure compliance. The Program Manager provides oversight for the development of systems, policies and procedures for this federal program, as well as State programs. The candidate must implement guidelines and programmatic policies for preventing fraud, waste and abuse of federal funds as required by program regulations. This position also analyzes, applies, and enforces complex federal guidelines. 

The Fiscal Manager assists the Program Managers in the implementation of program operations to support the Housing and Building Energy Programs. This position is responsible for the day-to-day accounting, analysis, and fiscal compliance for all Housing and Building Energy Programs (HBEP aka "CDA-Energy") programs. Duties include collecting documentation for reporting and audits, examining accounting data, making recommendations to improve accuracy, identifying process improvements, collaborating with other program and accounting department staff, acting as the primary point of contact for accounting and finance-related inquiries during any audit-related activities, inspecting budgets and expenditures, reviewing purchase orders and balances, preparing accounting statements, preparing reconciliation of expenditures, etc.

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