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Development Finance Review Weekly - December 18, 2025

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Development Finance Review Weekly
December 18, 2025
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CDFA Development Finance Review Weekly

Features

2026 CDFA Opportunity Zones Learning Series Kicks Off January 15
The CDFA Opportunity Zones Learning Series, presented in partnership with Grow America, is a resource to help communities develop a comprehensive understanding of Opportunity Zones. The first installment of the CDFA Opportunity Zones Learning Series will provide an overview of the Opportunity Zones program, with insights into key dates for 2026. Participants will leave this session with an understanding of the Opportunity Zones program. Register for one session or the full series. Save with significant discounts for CDFA member organizations and those who register for the full series!

Vermont Housing Solutions Start Here — CHIP Webinar Series
Start your year strong! Join CDFA for a three-part webinar series on Vermont's new Community and Housing Infrastructure Program. Designed for local municipalities, this series will build a solid foundation in Tax Increment Financing and guide responsible implementation of this important new tool. Register now!

CareSource Secures $2.3M in State Tax Credits to Support Dayton, Ohio Job Expansion
CareSource, the Dayton-based health insurance company, has been awarded an estimated $2.3 million in performance-based Job Creation Tax Credits from the Ohio Tax Credit Authority to support a proposed expansion of its headquarters that would create 167 full-time jobs in Dayton, Ohio. The 10-year, 1.711 % tax credit is tied to new payroll created by the project and is designed to incentivize job growth by refunding a portion of the company's payroll tax liability. The expansion is expected to generate more than $12.5 million in annual payroll.

CDFA Recognizes Dina Chaika, DFCP
CDFA is pleased to announce Dina Chaika, Vice President of Local Lending at the Louisville Economic Development Alliance, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Ms. Chaika joins the ranks of fellow graduates who are recognized as the most qualified leaders in the development finance industry.

December 31 OZ Deadline: Don't Let Compliance Slip
For Qualified Opportunity Funds (QOFs) and Qualified Opportunity Zone Businesses (QOZBs), December 31 is the most critical date of the year. Missing key requirements can jeopardize tax benefits and investor confidence. Learn how one fund's experience highlights the importance of proactive planning, and what you can do to stay on track.

Reinvestment Fund Issues General Obligation Bonds
The Reinvestment Fund, a national Community Development Financial Institution (CDFI), announced the sale of $69.5 million in general obligation bonds to buyers, including six institutional and three individual investors. The bond issue is part of the Fund's continued strategy to raise and deploy capital in affordable housing, early childhood education, and other projects that will strengthen the communities it serves.

Bond-Market Debate Over Fed's Path in 2026 Is About to Heat Up
The big debate in the US Treasury market over the extent of Federal Reserve interest-rate cuts ahead is about to heat up with a string of pivotal economic data releases. This week will go a long way to filling in the data void created by the US government shutdown, with the delayed announcements of monthly employment and inflation figures, and then early January brings more key jobs data. The reports will help answer the overarching question entering 2026 of whether the Fed is close to being done easing, after three straight cuts, or if it has to move more aggressively.

'Catastrophe Bonds' Are Gaining Popularity as a Response to Climate Change
After the hurricane in Jamaica, the government had a pot of money to help rebuild. A Catastrophe Bonds payout. Catastrophe bonds were created by the insurance industry in the '90s as a way to transfer the risk of natural disasters onto investors. And in recent years, cat bonds have turned into a $50 billion market. There is a lot of demand from investors as cat bonds can pay investors a decent amount of interest.

Upcoming Events
CDFA Winter Institute
Upcoming Webcasts

SSBCI Coalition Meeting - Virtual
December 19, 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.

Job & RFP Postings

CDFA - Coordinator, Knowledge & Networks
The Council of Development Finance Agencies seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Knowledge & Networks. This position is critical to the continued success of CDFA's education, advocacy, research, resources, and networking efforts. This position is responsible for assisting with CDFA's research projects, resource collection, information sharing, newsletter publications, headlines review, and educational efforts. This is an exciting opportunity for an enthusiastic person to contribute to a great organization, working to create economic prosperity across the country. This is a hybrid position is located in Dublin, OH. A cover letter, resume, salary request, and three professional/academic references should be emailed to jobs@cdfa.net

Knoxville's Community Development Corporation - Chief Financial Officer
KCDC is seeking its next Chief Financial Officer (CFO) to join a high-performing team dedicated to creating lasting impact in communities. From revitalizing residential neighborhoods to energizing commercial business districts, this position serves as a strategic and operational leader who works in close partnership with the CEO and the executive leadership team. This individual is responsible for attracting capital, leveraging the balance sheet and borrowing capacity, and ensuring strong financial policies, procedures, and reporting systems are in place. Applications are accepted electronically at kcdc.org. The position is open until filled with a first review of applications beginning December 19, 2025.

This Week's Headlines

D.C.'s Public Venture Fund Taps San Francisco and NYC Firms to Manage and Invest
Technical.ly | Dec. 17 | State Small Business Credit Initiative (SSBCI)

Fox Creek Middle School Finances New Campus With $21M in JEDA Bonds
JEDA | Dec. 17 | Bond Finance | Community Development

Governor Moore Announces $10M to Support Small Businesses and High-Need Communities in Maryland
Maryland.gov | Dec. 17 | State Small Business Credit Initiative (SSBCI)

More Berks Communities Turn to Tax Breaks for Developers
Spotlight PA | Dec. 17 | Economic Development

Wood Partners and Clarion Partners Break Ground on Alta Metro Center in Aurora, Colorado
PR Newswire | Dec. 17 | Housing Finance | Opportunity Zones

DEI Challenge Hits State Small Business Credit Initiative, Threatens Funding Opportunities
JacksonLewis | Dec. 16 | State Small Business Credit Initiative (SSBCI)

Enhancement of Economic Development Tools in the One Big Beautiful Bill Act
Urban Land | Dec. 16 | Legislative | Opportunity Zones | Tax Credits

Federal Judge Orders FEMA to Restore Billions in Canceled Disaster Mitigation Funding
A.P. | Dec. 16 | Disaster Recovery & Relief | Redevelopment | Resiliency

How Rural Community Leaders Are Creating Economic Opportunity
National League of Cities | Dec. 16 | Access to Capital | Rural Development | Webcasts

HVRSD Sets January Bond Sale as Clean Audit Confirms Strong Financial Position
Mercer Me | Dec. 16 | Bond Finance

Indiana Communities Nab $29M for Residential Infrastructure Development
Indiana Capital Chronicle | Dec. 16 | Housing Finance

Lyle Fitterer: The State of the Municipal Bond Market Today
Morningstar | Dec. 16 | Bond Finance

Nettleton Aldermen Approve Water and Sewer Project Bond Amendment
Monroe Journal | Dec. 16 | Bond Finance

Olds College Expands Alberta Partnership with Agricultural Financial Services Corporation
The Western Producer | Dec. 16 | Access to Capital | Agriculture Finance | Food Systems Finance | Public-Private Partnership (P3) Financing

Texas Launches Database to Track Tax Rate Elections, Bond Projects
Yahoo Finance | Dec. 16 | Bond Finance | Local Finance Program

Tri County School Bond Passes In Close Election
The Fairbury Journal | Dec. 16 | Bond Finance

UConn Students Win Housing Innovation Competition, Financing-Driven Redevelopment Proposal
UCONN Today | Dec. 16 | Access to Capital | Community Development | Economic Development | Housing Finance | Incentives | Public-Private Partnership (P3) Financing | Tax Credits

USDA Emerging Markets Funding to Boost Global Export Opportunities for TN Hardwood Industry
TN Department of Agriculture | Dec. 16 | Access to Capital | Agriculture Finance | Community Development | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

U.S. Pauses $40B U.S.–UK Technology Deal Over Digital Regulations and Food Standards
Business Standard | Dec. 16 | Economic Development | Federal | Food Systems Finance | Overseas Private Investment Corporation (OPIC) | Public-Private Partnership (P3) Financing

Wheeling, WV Advances Ohio Valley Food & Innovation Hub with $2M Section 108 Loan
The Intelligencer: Wheeling News-Register | Dec. 16 | Agriculture Finance | Community Development | Food Systems Finance | Incentives | Redevelopment | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

$70M Mixed-Use Redevelopment of Former Waterbury Brass Mill Gets Boost
CT Insider | Dec. 16 | Redevelopment | Tax Credits

A ‘New Era' in the Housing Market is About to Begin as Affordability Finally Improves
yahoo!finance | Dec. 15 | Housing Finance

Dying Mall in Southern Illinois is Getting a Mighty Makeover, Thanks to $112M Bond Deal
Capitol News Illinois | Dec. 15 | Bond Finance

Rural Ohio Can Now Get Money for Affordable Housing From the State's Revolving Loan Fund
wyso | Dec. 15 | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development

Unlocking the Next Trillion-Dollar Frontier: Climate Bonds Launches the New CBRT Explainer
Climate Bonds | Dec. 15 | Bond Finance | International

$37M Parking Structure Aims to Support Downtown Fresno Housing Push
The Business Journal | Dec. 15 | Revolving Loan Funds (RLFs) | Urban Development

Tucson IDA Facilitated a $200M Public-Private Investment for Affordable Housing in Tucson
Tucson IDA | Dec. 14 | Historic Preservation | Housing Finance | Public-Private Partnership (P3) Financing

5 Ways to Prepare for Opportunity Zones 2.0
Multifamily Dive | Dec. 12 | Opportunity Zones

California Awards $2B in Bonds for Affordable Housing
housingfinance.com | Dec. 12 | Bond Finance | Housing Finance

Hawai‘i Green Infrastructure Authority Makes $18M in Clean Energy Financing for Underserved Households
Maui Now | Dec. 12 | Energy Finance | Tax Credits

Missouri Releases $33M+ in Federal Funds to MTC to Support Startups, Small Businesses
Start Land News | Dec. 12 | State Small Business Credit Initiative (SSBCI)

VLCT 2026 Legislative Preview: Housing, Transportation, Prop Taxes, Healthcare
Vermont Biz | Dec. 12 | Legislative

$269M Allocated to Make Local Water Infrastructure Projects Affordable Across NY
governor.ny.gov | Dec. 12 | Infrastructure Finance | Water Finance


National Sponsor Spotlight

PGAV Planners, LLC PGAV Planners, LLC
PGAV is a global leader in planning, design, and development consultation to public, corporate, and institutional clients. For more than fifty years, PGAV has created unique approaches and solutions to community planning and development issues, and...
RDF 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...
SB Friedman Development Advisors 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...

CDFA Bookstore

Cover thumbnail Practitioner's Guide to Economic Development Finance 3rd Edition
The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities.

New Members

City of Yuma - Yuma, AZ

Boldt Consulting Services - Milwaukee, WI

Public Facilities Group - Seattle, WA

Puerto Rico Green Energy Trust - San Juan, PR

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 President's Club

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  • Wells Fargo Securities
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