Development Finance Review Weekly - October 16, 2025
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| Features |
CDFA's Tax Increment Finance Week: Two TIF Course Levels Offered this November!
CDFA is excited to offer our Intro and Advanced Tax Increment Finance Courses in the same week. This opportunity is perfect for professionals who want an in-depth look at TIF deal-making and best practices into focus and support the entire TIF community. Join us November 18-19 & November 20—register today!
NOFO: Low-Income Credit Unions Can Apply For NCUA CDRLF Grants, $3.465M Available
Applications for NCUA's Community Developing Revolving Loan Fund (CDRLF) grants are now open through December 16, 2025. The fund will award approximately $3.465 million to between 85 and 115 low-income designated (LID) credit unions, according to the agency's Notice of Funding Opportunity.
2025 Class of Franzini Fellows Present Their Capstone Project: Lessons from Commercial Corridor Revitalization
The 2025 Caren S. Franzini Fellowship class prepared a white paper summarizing their research examining the potential of blended capital to finance the revitalization of commercial corridors in underserved neighborhoods. This paper presents evidence-based best practices to combine public, private, and philanthropic capital in ways that reduce risk and make impactful community revitalization projects financeable. The Fellows presented their research at the 2025 National Development Finance Summit in San Juan, Puerto Rico.
Major Housing Overhaul Clears Senate But Faces Uncertain Future in House
In a rare show of bipartisan cooperation, the Senate has passed one of the most far-reaching housing measures in years — a 315-page package that combines 27 previously separate bills and touches nearly every corner of the U.S. housing market. The measure, known as the Renewing Opportunity in the American Dream (ROAD) to Housing Act of 2025, advanced through the Senate Banking, Housing and Urban Affairs Committee in July with overwhelming support.
New Mexico Finance Authority Says It's Approved $52M in Housing Loans
The New Mexico Finance Authority announced that the authority has already approved more than one-third of $125 million in housing-related loans, which were a key part of the Legislature's "historic" housing spending in 2024. The fund offers low-interest loans for middle-income housing or affordable housing infrastructure.
Belpointe Lands $204M Refinancing Note for Florida Property
Belpointe OZ has secured a $204.1 million refinancing note for Aster & Links, a 424-unit, Class A property in Sarasota, FL. Affinius Capital issued the funds in a deal arranged by Lantern Real Estate Advisors + Partners Co-Founder Tal Bar-or. Part of this loan retired existing debt, which, according to Yardi Matrix data, took the form of a $130 million construction note issued by Bank OZK in 2023. Belpointe will utilize the remaining proceeds for lease-up and stabilization of the newly completed community.
Proposed Revolving Loan Fund in Bethlehem, PA, Prioritizes Mixed-Income, Affordable Housing
A new revolving loan fund aimed at prioritizing mixed-income housing would allow the city to negotiate with developers to offer more affordable units and even get some projects over the finish line. The Bethlehem City Council unanimously approved a $12,000 contract with the Center for Public Enterprise out of Brooklyn, New York, to help with designing and implementing such a fund.
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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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| This Week's Headlines |
Edwin Oswald on the Outlook for Bond-Financed Spaceports
orrick | Oct. 15 | Bond Finance | Innovation Finance
Everett School Board Sends Bond, Levy Measures to February Ballot
Herald Net | Oct. 15 | Bond Finance | Education
Kaleva Norman-Dickson Schools Propose $9.5M Zero Mills Bond
9&10 News | Oct. 15 | Bond Finance | Education
Lake Oswego Voters to Decide $245M School Bond
The Oregonian | Oct. 15 | Bond Finance | Education
Oklahoma City Voters Approve 2025 Bond
OKC.gov | Oct. 15 | Bond Finance | Infrastructure Finance
Structuring Preferred Equity in Opportunity Zones
OpportunityZones.com | Oct. 15 | Federal | Opportunity Zones
$105M Jail Bond Heads to Voters in All-Mail November 4 General Election
Flathead Beacon | Oct. 15 | Bond Finance | Economic Development | Infrastructure Finance
$5M Bond Aims to Help with Expansion, Improvements for Saugatuck Township Fire District
WWMT | Oct. 15 | Bond Finance | Infrastructure Finance
Connecticut Could Bond $390M for UConn Health, Including Waterbury Hospital Purchase
CT Mirror | Oct. 14 | Bond Finance | Healthcare | State Finance Program
Delaware Division of Small Business Approaching $10M in SSBCI ‘Race to $14M'
Delaware News | Oct. 14 | Economic Development | State Small Business Credit Initiative (SSBCI)
Iowa Transportation Commission Approves Funding for Rail Projects Through the Railroad Revolving Loan and Grant Program
KWIT | Oct. 14 | Infrastructure Finance | Revolving Loan Funds (RLFs)
U.S. EDA Approved a $10.7M Recovery Grant for Northern Marianas College's Workforce Development Center
Marianas Variety | Oct. 14 | Disaster Recovery & Relief | Economic Development | U.S. Economic Development Administration (EDA)
Water On Demand and Enviromaintenance Plan to Deploy Innovative Mobile Water Treatment Plants
FOX40 | Oct. 14 | Opportunity Zones | Water Finance
Why ESG Scores Are Moving the $4T Municipal Bond Market
Knowledge at Wharton | Oct. 14 | Bond Finance
City of Slidell Receives $870K in Principal Forgiveness for Wastewater Infrastructure Improvements
My Slidell | Oct. 10 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
Laramie City Council Approves 15th Street Project, Updates Housing Code
Wyoming News | Oct. 10 | Economic Development | Housing Finance | Legislative | State Small Business Credit Initiative (SSBCI)
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| National Sponsor Spotlight |
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BNY
BNY is the world's leading provider of corporate trust and agency services, administering $28.5 trillion in outstanding debt from 69 locations in 39 countries. Our clients include governments and their agencies, corporations, financial institutions...
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Frost Brown Todd LLP
With over 600 lawyers across their 18 offices in nine states, 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 experience to serve...
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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...
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| CDFA Bookstore |
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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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