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Development Finance Review Weekly - May 21, 2026

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Development Finance Review Weekly
May 21, 2026
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CDFA Development Finance Review Weekly

Features

Join CDFA's Housing Finance Week Courses: 2 Levels Over 3 Days
CDFA is proud to announce that our Housing Finance Week will be held on June 23-25, 2026, where we'll discuss the most pressing issues in housing finance and what you need to know to have a successful housing finance strategy. This is your chance to expand your knowledge base at either the Intro Housing Finance Course on June 23-24 or the Advanced Housing Finance Course on June 25, or both!

HUD Announces Regulatory Best Practices to Increase Building and Homeownership
HUD announced the State and Local Best Practices for Home Construction Report, a series of regulatory actions for state and local governments to increase efficiency and ease regulatory barriers to housing construction and affordability. These Best Practices are an initial list of recommendations to facilitate growth while respecting communities' unique needs. Adding efficiency to local building processes will result in more affordable homeownership opportunities.

Bond Yields Near Two-Decade High Open Rift Among Investors
U.S. Treasury yields are approaching levels last seen before the 2007–08 financial crisis, reflecting persistent inflation fears, rising fiscal deficits, and expectations of prolonged high interest rates. The surge in long-term borrowing costs is increasing pressure on global capital markets and could tighten financing conditions for infrastructure, sovereign lending, and emerging market projects. For the development finance industry, higher yields may raise debt-servicing costs, reduce investor appetite for riskier markets, and complicate funding for climate, energy, and social development initiatives.

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. Applications due June 22, 2026.

NOFO: Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative
The ARC's POWER program is offering grants of up to $2M to strengthen the economies of Appalachia's coal communities. Funding will support projects that advance economic diversification, enhance job training and re-employment opportunities, create jobs in existing or new industries, and/or attract new sources of investment in communities affected by job losses in coal and coal-related industries. A letter of intent for the ARC POWER grant program is due by May 22, 2026. Applications for ARC POWER grants are due by July 8, 2026.

NOFO: Rural Business Development Grants
Rural Business Development Grants (RBDGs) support targeted technical assistance training and other activities that promote the development and expansion of small and emerging private businesses in rural areas. Eligible businesses must have fewer than 50 employees and less than $1M in gross annual revenues. RBDG funding is separated into either enterprise or opportunity-type grant activities. Strategic Economic and Community Development (SECD) applications are due June 15, 2026, and the remainder of the applicants are due June 30, 2026.

DOE Awards $94M to American Companies to Help Expedite the Deployments of Small Modular Reactors
The U.S. Department of Energy (DOE) today announced the selection of eight companies to support the near-term deployment of advanced light-water small modular reactors (SMRs) in the United States. The awardees will collectively receive more than $94 million in Federal cost-shared funding to spur additional Gen III+ SMR deployments by addressing key gaps that have hindered the domestic nuclear industry in licensing, supply chain, and site preparation.

U.S. Department of Transportation to Invest $3B in Rebuilding America's Aging Bridges
The U.S. Transportation Department announced it is moving quickly to make $3 billion available for states to invest in aging bridge infrastructure across the country. The Federal Highway Administration (FHWA)'s Bridge Investment Program (BIP) focuses on repairing bridges in poor condition so Americans can safely get to work and school, and American businesses can move their goods efficiently.

Upcoming Events
Intro Housing Finance Course
Upcoming Webcasts

SSBCI Coalition Meeting - Virtual
May 22, 2026 - 1:00 PM - 2:00 PM Eastern
CDFA's SSBCI Coalition brings together practitioners nationwide for monthly updates, best practices, and collaborative problem-solving—ensuring members stay ahead of the SSBCI 2.0 deadlines and evolving program requirements.

CDFA-Bricker Graydon Wyatt Webinar Series: How to: Fund Parking & Infrastructure
June 9, 2026 - 2:00 PM - 3:30 PM Eastern
Parking structures, utilities, and other infrastructure often determine whether a development project is financially viable. The session will highlight how infrastructure investments are structured within broader deals.

CDFA // BNY Development Finance Webcast Series: Bond Finance for Infrastructure & Transportation
June 16, 2026 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series, panelists will discuss strategies for using bonds to finance industrial parks, logistics hubs, and transportation infrastructure that attract businesses and enhance regional connectivity.

Job & RFP Postings

Maryland DHCD - CDA Lending and Risk Analyst II, Energy Construction Project Manager
The Project Manager is a professional who coordinates and manages energy conservation projects receiving funds for the execution of energy efficiency or greenhouse gas reduction initiatives. The Project Manager has, or will have, an understanding of building construction and assemblies, energy diagnostic and modeling methodologies, and energy conservation or greenhouse gas reduction measure recommendations.

This Week's Headlines

EPA Announces $2.9B for States to Reduce Lead in Drinking Water and Protect Americans' Health
U.S. Environmental Protection Agency | May. 20 | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance

CLARITY Act: Senate Floor Vote Expected Within 30 Days, Galaxy Research Puts Odds at 75%
TradingView | May. 19 | Innovation Finance | Legislative

Developers Seek $52M for St. Pete Affordable Housing
TBBW | May. 19 | Bond Finance | Housing Finance

National Housing Crisis Task Force Releases Community Foundation Pro-Housing Playbook
National Housing Crisis Task Force | May. 19 | Education | Housing Finance

Opportunity Zones Development Group Promotes Building Hope OZ Fund I, LLC
OZDG | May. 19 | Community Development | Opportunity Zones

Opportunityzones.com to Host Summer 2026 OZ Pitch Day on July 30
opportunityzones.com | May. 19 | Opportunity Zones | Webcasts

The Call for Ideas for the 2027 National Brownfields Training Conference is Now Open
Brownfields 2027 | May. 19 | Brownfield Financing | Education

Bridging the Gap for Surface Transportation: Why Counties Need a Stronger Federal Investment Partnership
National Association of County Organizations | May. 18 | Education | Infrastructure Finance

CohnReznick Launches Public Finance and Sustainability Practice
CohnReznick | May. 18 | Green Finance | Member News

Deltek Releases Clarity Report for Government Contractors
Deltek Clarity | May. 18 | Education | Federal

FBT Gibbons Team Serves as Underwriter's Counsel on $1.15 B City of Austin Airport Bonds
FBT Gibbons | May. 18 | Bond Finance | Member News

Republicans and Democrats are in Dealmaking Mode as Time Runs Out for Legislative Action
Politico | May. 18 | Federal | Legislative

Top Democrats Probe SBA Handling Of Tariff-Driven Financing Struggles
CUtoday | May. 18 | Federal | Legislative | U.S. Small Business Administration (SBA)

Redding Rancheria Secures $80M Financing for Tribal Health Village Project
Tribal Business News | May. 17 | Healthcare | Tribal Finance

Commerce Launches $25M Pilot to Upskill American Workers in AI
MeriTalk | May. 15 | Federal | Innovation Finance | U.S. Dept. of Commerce (DOC) | U.S. Economic Development Administration (EDA)

Lakeside Redevelopment Powered by the Michigan Strategic Fund's Transformational Brownfield Program
candgnews.com | May. 15 | Brownfield Financing | Redevelopment | Tax Increment Finance (TIF)

Lawmakers Gear Up for Highway Bill
Punchbowl News | May. 15 | Infrastructure Finance | Legislative

Maryland Department of Agriculture Announces $1.6M Postharvest Infrastructure Grant Program
Maryland Department of Agriculture | May. 15 | Agriculture Finance | Food Systems Finance | Rural Development

Waco Council to Vote on $50M Contribution to I-35 Big Box Development
The Waco Bridge | May. 15 | Infrastructure Finance | Public-Private Partnership (P3) Financing | Tax Increment Finance (TIF)

Why Insurance is the Missing Link in Financing Food Systems Transformation
World Economic Forum | May. 15 | Agriculture Finance | Food Systems Finance

Appalachian Regional Commission Release Contract Opportunities
ARC | May. 14 | Federal | Job Postings & RFPs

Congress Enacts S. 1020 to Extend Hydropower Construction Deadlines
troutman pepper locke | May. 14 | Green Finance | Legislative

HUD Secretary Testifies on President Trump's 2027 Budget
HUD | May. 14 | Federal | U.S. Dept. of Housing & Urban Development (HUD)

Nebraska's First BEAD-Funded Household Connection
NTIA | May. 14 | Infrastructure Finance | U.S. Dept. of Commerce (DOC)

U.S. Small Business Administration Launches $1M Patriot Pitch Competition
Small Business Administration | May. 14 | U.S. Dept. of Commerce (DOC) | U.S. Small Business Administration (SBA)

U.S. Treasury Updates SSBCI Guidance on the Technical Assistance Grant Program, and Small Business Opportunity Program
U.S. Department of Treasury | May. 14 | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury


CDFA President's Club Spotlight

Hawes Hill and Associates LLP Hawes Hill and Associates LLP
Hawes Hill & Associates (HHA) concentrates on economic and community development and public financing consulting using special purpose districts, real estate incentives, and other public financing tools. Throughout its nearly 30-year history, HHA...
Hawkins Delafield & Wood LLP Hawkins Delafield & Wood LLP
Hawkins Delafield & Wood LLP is the only national law firm in the United States whose practice is devoted primarily to public finance and public projects. Each of their specialty areas supports and complements our municipal transactions practice....
Ice Miller LLP Ice Miller LLP
Ice Miller is nationally recognized for its public-private partnerships (P3s), municipal bond, and economic development experience. Built on a foundation of legal service more than a century-long, the firm is committed to helping our clients stay...

CDFA Bookstore

Cover thumbnail Tax Increment Finance Best Practices Reference Guide 2nd Edition
The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.

New Members

City of Lawrence, KS - Lawrence, KS

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

  • BNY
  • Bricker Graydon Wyatt LLP
  • CohnReznick
  • Colorado Housing and Finance Authority
  • FBT Gibbons
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a CDFA President's Club Member