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Development Finance Review Weekly - October 9, 2025

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Development Finance Review Weekly
October 9, 2025
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CDFA Development Finance Review Weekly

Spotlight

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 evidential 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.

Features

As More Communities Embrace Tax Increment Financing, The Tiff Over TIFs Heats Up
Tax increment financing districts have become a popular approach to supporting the growth of communities in South Dakota. A TIF is a tool that local and county governments can use to pay for improvement projects. As they become more popular, so does the controversy surrounding them.

EPA Land Revitalization and Technical Assistance Grant Program
The U.S. Environmental Protection Agency (EPA) Land Revitalization Technical Assistance Program is offering the opportunity for local communities to promote the revitalization of brownfield areas. If your community has a site or group of sites which are impacted by contamination or suspected contamination, EPA can provide targeted support for expert consulting to help your community conduct site visioning, reuse planning, market studies or feasibility assessment, evaluation of needed infrastructure upgrades, site disposition strategies, funding leverage strategies, equitable development activities, and other revitalization activities. 

Columbus, OH, Wants to Approve an Affordable Housing Bond. But How Affordable is Affordable?
Columbus plans to dedicate $500 million of its $1.2 billion November bond issue to building affordable housing — the third time the city has used bond funding for that purpose. Columbus residents approved bonds in 2019 and 2022 for affordable housing use. A bond doesn't raise taxes. It simply approves the city to take out a loan at a certain rate and then pay it back over time. The city of Columbus puts aside 25 cents of every dollar collected from Columbus' income tax into a dedicated fund that's used to repay such debt.

The Biggest Municipal Bond in Oklahoma History is Up for a Vote
Oklahoma City is holding a historically big bond election next Tuesday. Though bonds are important to local government operations, even the most vocal fans admit the tool lacks enthusiasm from the community. Oklahoma City Mayor David Holt hopes to build excitement for these projects as they're the ones that impact residents' lives the most.

EPA Sued Over Canceled $7B Solar Program
A labor union, solar installation companies, nonprofits and other organizations are suing the Trump administration over its move to claw back $7 billion in funds that would have put more rooftop solar power in disadvantaged communities. The funds in question came from the Democrats' Inflation Reduction Act. The Biden administration granted funds to 60 entities including states, nonprofits, tribes and local governments. It said at the time the funds were slated to provide more than 900,000 households with solar power.

Projects that TIFs Built: Counties Using for Housing, Industry
Every year, the South Dakota Department of Revenue publishes an annual report showing all active tax increment financing (TIF) districts in the state. In 2024, there were 264 active TIFs in South Dakota, up from 199 in 2020. The following are some examples of projects in the state that were funded with TIFs. These are selected from the 10 counties with the highest number of active TIFs in 2024. Figures for the base valuation and the 2024 valuation show the current increment value that is paying for the project.

USDA Awards $4.2M to Co-op Development Across U.S.
The U.S. Department of Agriculture has granted $4.2 million through its Rural Cooperative Development Grant (RCDG) program to bolster cooperative development centers around the country. Only nonprofit organizations were eligible to apply, with individual projects receiving up to $1 million. The funding aims to help rural areas by supporting the creation, expansion, or improvement of cooperatives that boost economic development in underserved communities.

Upcoming Events
Intro Tax Increment Finance Course
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.

Job & RFP Postings

Invest Atlanta - Procurement Specialist
The Procurement Specialist provides in-depth research and analytical support for requisitions in a variety of procurement activities. In consideration of skill level and capability, this position will assist in the managing of micro purchase and small purchase requests and assist in the development and disposition of competitive solicitations for Invest Atlanta Departments. A successful candidate will have the ability to assist in the execution of procurement strategies designed to maximize customer satisfaction, minimize costs and ensure compliance with regulations and policies. In addition, this position will assist with post-award activities such as contract administration and supplier relationship management.

This Week's Headlines

Buried Report Throws Cold Water on Zahilay's Billion-Dollar Housing Bond Proposal
The Urbanist | Oct. 8 | Bond Finance | Housing Finance

Normal Looks to Create New Uptown TIF to Spur Development
WGLT | Oct. 8 | Economic Development | Tax Increment Finance (TIF)

Selecting the Next Round of Opportunity Zones: New Evidence and Field Reflections
Urban Institute | Oct. 8 | Federal | Opportunity Zones

What is a TIF District? How Taking on Debt is Paying Off for Some Vermont Cities
NBC5 | Oct. 8 | Economic Development | Infrastructure Finance | Tax Increment Finance (TIF)

Angst Over Possible Jerome TIF District
Capitol City Now | Oct. 7 | Local Finance Program | Tax Increment Finance (TIF)

DNR Awards Loans To Support Redevelopment In City Of Madison
Urban Milwaukee | Oct. 7 | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Florida City Plans to Fund $27M Restoration Through Bond, Green Fees
TurfNet | Oct. 7 | Bond Finance | Historic Preservation

Nebraska School District Asks Voters for $2.15M Bond
SIOUXLAND Proud | Oct. 7 | Bond Finance | Economic Development | Infrastructure Finance

New York City to Issue $460M in Social Bonds for Affordable Housing under Mayor Adams' Initiative
Hoodline | Oct. 7 | Bond Finance | Housing Finance

North Dakota Clean Water and Drinking Water Loans
News Dakota | Oct. 7 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Partnerships Propel the Growth of Native-Owned Businesses in Wisconsin
Tribal Business News | Oct. 7 | Economic Development | Revolving Loan Funds (RLFs) | Tribal Finance

Public Hearing Set for Sunflower Crossing Redevelopment District
KSNT | Oct. 7 | Redevelopment | Tax Increment Finance (TIF)

Rutland Residents to Vote on $3.9M Infrastructure Bond
WCAX 3 | Oct. 7 | Bond Finance | Infrastructure Finance | Tax Increment Finance (TIF)

Six Loans Awarded Through State Revolving Fund for Water Infrastructure Improvements
The State Revolving Fund programs offer low-interest-rate loans to help finance projects. | Oct. 7 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

The New Rural Opportunity Zone Map
OpportunityZones.com | Oct. 7 | Federal | Legislative | Opportunity Zones

Thompson School District Seeks $99M in Bond Measure on November 2025 Ballot
Coloradoan | Oct. 7 | Bond Finance | Education

What Voters Need to Know About Prop 409, Maricopa County's $900M Bond Measure
KTAR News | Oct. 7 | Bond Finance | Healthcare

Council Approves TIF Districts for Bridal Oaks and Mills on Main Development
Citizen Portal | Oct. 6 | Bond Finance | Housing Finance | Tax Increment Finance (TIF)

Des Moines Suburban Schools Want Voters to Approve Millions in Bonds. What They'd Buy
Des Moines Register | Oct. 6 | Bond Finance | Education

DHA in Dallas, TX Lands $69M Bond Reservation to Revamp Affordable Housing
REBUSINESS Online | Oct. 6 | Access to Capital | Housing Finance | Incentives | Tax Credits

Government Shutdown Freezes USDA Aid, Delays Farm Loans During Peak Harvest
American Ag Network | Oct. 6 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | Resiliency | U.S. Dept. of Agriculture (USDA)

Manage Capital Gains Between Qualified Opportunity Zone Programs
BlackRock Advisor Center | Oct. 6 | Federal | Legislative | Opportunity Zones

New Program Aims to Help More Montanans Own a Home
KRTV | Oct. 6 | Housing Finance | Revolving Loan Funds (RLFs)

Prince William County, VA Advances Protection of Historic Thoroughfare with Tax Credits
Prince William Times | Oct. 6 | Community Development | Incentives | Redevelopment | Tax Credits

Trenton, NJ: NJHMFA Unveils $500M State Tax Credit for Affordable & Workforce Housing Projects
NJBiz | Oct. 6 | Access to Capital | Housing Finance | Incentives | Tax Credits

Wicomico Co. Secures $8M in State & Federal Funding for Sewer Projects
WMDT | Oct. 6 | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs)

Over 400 Massachusetts Neighborhoods Could Become New Opportunity Zones
Boston Business Journal | Oct. 5 | Federal | Legislative | Opportunity Zones

IRS Posts Guidance on Opportunity Zone Tax Incentives for Rural Areas
CPA Practice Advisor | Oct. 3 | Federal | Opportunity Zones | U.S. Dept. of Treasury

QOF Managers React to Permanence for OZs: Rural Emphasis, Potential ‘Dead Period'
NOVOGRADAC | Oct. 3 | Federal | Legislative | Opportunity Zones

Schaumburg Seeking Third TIF District to Spur Redevelopment in Town's Southwest Corner
Daily Herald | Oct. 3 | Economic Development | Redevelopment | Tax Increment Finance (TIF)


National Sponsor Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving municipal finance professionals, offering an unparalleled blend of news, analysis, and data that sets it apart in the industry. Moreover, it provides comprehensive education on...
U.S. Bank 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.
Wells Fargo Securities 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...

CDFA Bookstore

Cover thumbnail Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital, and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment, and job creation.

New Members

City of Hearne - Bryan, TX

City of Reno - Reno, NV

Nevada Department of Business and Industry - Las Vegas, NV

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 National Sponsors

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