Development Finance Review Weekly - May 7, 2026
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| Features |
CDFA Announces President & CEO Transition: Toby Rittner to Leave CDFA By the End of the Year
The CDFA Board of Directors would like to announce that after 22 incredible years leading CDFA, Toby Rittner has decided to step away as President & CEO. Rittner will depart CDFA by the end of the year. Since assuming the role of President & CEO in 2004, Toby has been the architect of the organization's strategic evolution. Under his leadership, CDFA expanded its reach to a national scale, modernized its operations, and solidified its reputation for excellence and collaboration. The CDFA Board thanks Toby for 22 years of extraordinary service and dedication. His vision and steady hand have been the driving force behind CDFA's two decades of success.
Congratulations to the Newest DFCP Graduate, Darrin Thomas
CDFA is pleased to announce Darrin Thomas, Director of Credit Administration at BBIF Capital, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Mr. Thomas joins the ranks of fellow graduates who are recognized as the most qualified leaders in the development finance industry.
CDFA Featured in The Bond Buyer: Mega Muni Bill Explored
Muni advocates are pushing a comprehensive "mega" municipal bond bill to expand financing capacity through reforms like restoring advance refunding, increasing bank-qualified limits, and enhancing sector-specific bonds. CDFA plays a central convening role, with its leadership actively working alongside industry groups to assemble and advocate for the package. CDFA's involvement signals organized, sector-wide alignment—creating a stronger chance of advancing policies that could unlock more capital for infrastructure and economic development projects. The Government Finance Officers Association, the National Association of Bond Lawyers, and the Bond Dealers of America are key contributors helping to shape and advocate for the proposal.
NOFO: Building Resilient Infrastructure and Communities (BRIC) Grant Program
The Federal Emergency Management Agency (FEMA) Building Resilient Infrastructure and Communities (BRIC) Grant Program is offering grants of up to $20 million to support pre-disaster mitigation activities that reduce disaster losses, protect life and property from future disaster damages, and increase community resilience to natural hazards. The deadline to submit applications is July 23, 2026.
NOFO: Consolidated Rail Infrastructure and Safety Improvements Program (CRISI)
The U.S. Department of Transportation (DOT) Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program is offering funding with no predetermined award maximum for projects that improve the safety, efficiency, and reliability of intercity passenger and freight rail. Competitive projects will reduce train accidents, highway-rail grade crossing incidents, and trespass incidents, and/or restore and modernize core assets to improve the state of good repair, enhance system resiliency, and increase safety.
NOFO: Safe Streets and Roads for All (SS4A) Grant Program
The Infrastructure Investment and Jobs Act (IIJA) established the Safe Streets and Roads for All (SS4A) competitive grant program with $5 billion in appropriated funds over 5 years, 2022-2026. The SS4A program funds regional, local, and Tribal initiatives through grants to prevent roadway fatalities and serious injuries. Approximately $1 billion is still available for the next funding round, with applications due May 26, 2026.
Peakline Launches $1.3B Opportunity Zone Fund
Peakline Real Estate Funds launched its fourth qualified Opportunity Zone investment program, targeting up to $1.3B in QOZ investments across various U.S. real estate sectors, including multifamily and mixed-use assets. PREF expects Peakline Real Estate Qualified Opportunity Zone Fund IV Program to begin deploying capital in January 2027, when new guidelines approved under last year's One Big Beautiful Bill take effect.
Slaton Passes $51M Bond as Abbott Proposes New School Finance Plan
Voters in Slaton approved a $51M bond proposition during the city and school elections. Prop A includes funding for the construction of a new elementary school, upgrades for certain athletic facilities, classroom additions, remodeling for Cathelene Thomas Elementary, demolition of Stephen F. Austin, and security improvements. School district taxes make up a large chunk of property taxes, but Slaton ISD says the bond will not change the tax rate.
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| Upcoming Events |

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| Upcoming Webcasts |
TIF Networking Circle Forum
May 13, 2026 - 1:00 PM - 2:00 PM Eastern
CDFA's TIF Networking Circle Forums are quarterly, one-hour virtual meetups that bring together professionals working with Tax Increment Financing. Led by expert Ambassadors, these sessions offer a space to share ideas, explore real-world challenges, and stay connected between meetings through ongoing online discussions. Whether you're new to TIF or managing complex deals, these circles offer valuable insight and community.
CDFA Opportunity Zones Learning Series: New Developments, Tract Selection, and Leveraging Bonds
May 14, 2026 - 1:00 PM - 2:30 PM Eastern
This session will highlight tract selection trends and provide practical guidance for preparing communities and aligning selections with local economic priorities. Attendees will also learn how to structure bond programs to attract and secure Opportunity Zone investments.
CDFA // BNY Development Finance Webcast Series: Bonds for Small Business and Entrepreneurial Development
May 19, 2026 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series, panelists will examine how bonds can finance small-business infrastructure, such as incubators and co-working spaces, to strengthen entrepreneurial ecosystems and job creation..
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| Job & RFP Postings |
Maryland DHCD - Energy Administrative Assistant
The Energy Administrative Assistant performs administrative tasks for the energy programs, which includes receiving and distributing mail, answering incoming customer inquiries, and sending status updates to clients. This position interacts with customers on a daily basis, including assisting clients in person, by phone, and by email. Client concerns must be received, handled, and addressed according to standard operating procedures, and if necessary, should be escalated to the appropriate managers for resolution.
Maryland DHCD - HCD Financial Analyst I, Accountant
This position maintains the existing Single Family portfolio consisting of 4,000 Mortgage loans worth over $309 million and Master Servicer for Down Payment Assistant (DPA) Loans and reports accurate and timely information regarding
these loans to senior management for inclusion in bond disclosures, CDA's general ledger team, other CDA staff, CDA's Single Family Sub-servicer and Trustee.
Invest Atlanta - Learning & Development (L&D) Manager
The ideal candidate is both strategic and hands-on. In addition to contributing to learning & development programs, the successful candidate is also responsible for administrative and operational support within the HR function, including, but not limited to, onboarding and offboarding. This position will collaborate with the HR team to ensure work is completed as required. Resumes should be submitted to: jobs@investatlanta.com.
Grow America - Commercial Loan Processor
This position is for a Commercial Loan Processor who will play a critical role in managing loan files from application through closing, ensuring accuracy, completeness, and compliance across all lending activities. This is an exciting opportunity for a highly organized and detail-oriented professional to support the end-to-end loan process, coordinate across internal and external stakeholders, and help deliver a seamless borrower experience. The Loan Processor will work under the supervision of the Director of Credit and collaborate closely with the Closing and Lending teams, while demonstrating strong independent judgment and ownership of their work.
Grow America - SBA 7(a) Analyst
The Credit Analyst will work under the supervision of the Director of Credit while exercising strong independent judgment and ownership over their work. This is an exciting opportunity for a detail-oriented and analytical professional to evaluate creditworthiness, structure loan recommendations, and manage a pipeline of credit requests. As a fully remote role, this position is best suited for a self-starter who is highly organized, dependable, and able to manage priorities independently while collaborating effectively across teams. The ideal candidate is a proactive solution finder who thrives in a flexible environment, demonstrates accountability, and consistently delivers high-quality work in a timely manner.
Maryland DHCD - Program Coordinator, Division of Credit Assurance
The Department of Housing and Community Development is seeking a self-motivated and collaborative Program Coordinator to support the Senior Program Manager and assist in coordinating operations across multiple programs. This position plays a key role in facilitating cross program activities, supporting reporting and data analysis, tracking budgets and program operations, and helping deliver a streamlined "One-Stop-Shop" experience for program participants to support the Housing and Building Energy Programs.
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| This Week's Headlines |
AI Strategy as Competitive Advantage: What Leading Companies Do Differently
CLA | May. 6 | Education | Organizational Management
Farm Family Transitions — Navigating Legacy, Ownership, Family Expectations
CLA | May. 6 | Agriculture Finance | Rural Development
Quarterly Refunding Statement of Deputy Assistant Secretary for Federal Finance Brian Smith
U.S. Department of Treasury | May. 6 | Federal | U.S. Dept. of Treasury
ReImagine Appalachia - Opportunity Zones 2.0 Webinar on May 12
ReImagine Appalachia | May. 6 | Opportunity Zones | Rural Development
Treasury Raises Series I Bond Rate After CPI Shocks Markets
TheStreet | May. 6 | Bond Finance | Federal | U.S. Dept. of Treasury
Waseca Council to Issue Bonds for Gaiter Lake, New Ladder Truck
Waseca County News | May. 6 | Bond Finance | Infrastructure Finance
Appalachian Regional Commission Announced FY26 POWER Program
Appalachian Regional Commission | May. 5 | Federal | Rural Development
Homelessness, Housing Markets, and Federal Policy
Bipartisan Policy Institute | May. 5 | Federal | Housing Finance
Implications of the U.S. Forest Service Reorganization
Environmental and Energy Study Institute | May. 5 | Federal | U.S. Dept. of Agriculture (USDA)
Top 10 Takeaways from the 2026 CONNSTEP Manufacturing CEO Summit
CLA | May. 5 | Education | Infrastructure Finance
Current Expexted Credit Loss in a Volatile Rate Environment: Critical Governance Considerations
CLA | May. 4 | Education | Organizational Management
Difference Makers Podcast - The Next Builders
Difference Makers | May. 4 | Tribal Finance | U.S. Dept. of Treasury CDFI Fund
Vibrant Denver Bond Delivers $20M for Community Health Center
Denver City Government | May. 4 | Bond Finance | Healthcare
What's New With Current Expected Credit Losses (CECL) for Nonprofit Entities
CLA | May. 4 | Education | Organizational Management
What the 2026 Clarity Data Reveals About Winning in Government Contracting
Deltek | May. 4 | Education | Public-Private Partnership (P3) Financing
Treasury Initiates Review of CDFIs, Citing Compliance and Stewardship Concerns
Tribal Business News | May. 3 | Tribal Finance | U.S. Dept. of Treasury CDFI Fund
Tribal Energy Alternatives Awards $3.2M in Solar Grants
Tribal Business News | May. 3 | Resiliency | Tribal Finance
Tribes Leverage Gaming, Contracting to Expand into New Industries
Tribal Business News | May. 3 | Innovation Finance | Tribal Finance
168-Unit Affordable Housing Project in South Phoenix Financed in Part by Arizona IDA Tax-Exempt Bonds
ktar.com | May. 1 | Bond Finance | Housing Finance | Member News
Gov. Kim Reynolds Introduces ‘Farm to Faucet' Water Quality Package
Iowa Capital Dispatch | May. 1 | Agriculture Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
HUD Announces $8M in Research Funding to Support New Housing Policy Research
U.S. Housing and Urban Development | May. 1 | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)
Tenants That Support Commercial Building Performance
CLA | May. 1 | Education | Housing Finance
U.S. Department of Agriculture Announces Distance Learning & Telemedicine Grants
U.S. Department of Agriculture | May. 1 | Federal | U.S. Dept. of Agriculture (USDA)
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| CDFA President's Club 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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U.S. Bank
U.S. Bancorp (USB), with $416 billion in assets, is the parent company of U.S. Bank, the fifth largest commercial bank with more than 65,000 employees, and 3,151 offices in the United States.
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Wells Fargo Securities
Wells Fargo Securities offers a comprehensive set of capital markets services, including originating and distributing public debt and equity, hedging interest rates and commodity and equity risks, advising on mergers and acquisitions, and...
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| CDFA Bookstore |
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Revolving Loan Fund Reference Guide
The Revolving Loan Fund Reference Guide offers an in-depth look at RLF program development, implementation and management. This guide demonstrates how an RLF program can complement economic development strategies, encourage investment and assist traditionally underserved businesses.
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| New Members |
Carroll County Fiscal Court - Carrollton, KY
Hawaii Small Business Development Center - Honolulu, HI
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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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