The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.

The Biden Administration's investment in Black entrepreneurs is producing results, including nearly $70 billion—a new record—in Fiscal Year (FY) 2022 on federal contracts awarded to small, disadvantaged businesses (SDBs); $12 billion in community lenders to expand access to capital and resources to too-often sidelined entrepreneurs; and $10 billion in states, tribes, and territories to launch and expand capital access programs for roughly 100,000 small businesses under the State Small Business Credit Initiative (SSBCI).

The U.S. Department of Transportation's Federal Aviation Administration (FAA) will award $66.2 million from the Bipartisan Infrastructure Law to airports in 23 states and Puerto Rico. The 66 projects are funded exclusively by the Bipartisan Infrastructure Law Airport Infrastructure Grant (AIG) program. In total, the infrastructure law invests $25 billion over five years in U.S. airports to modernize terminals, increase safety, expand capacity, replace equipment, and more.  

The U.S. Department of Transportation announced that its Build America Bureau provided a $88.3 million loan to the Louisiana State Bond Commission for the benefit of the Louisiana Department of Transportation and Development to build the LA 415 Connector, a new link between LA 1 and LA 415 at Interstate 10 in Baton Rouge Parish through a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan program. 

The Traverse City Downtown Development Authority (DDA) voted to take the next step towards extending downtown's tax increment financing (TIF) 97 plan for another 30 years – sending it to a citizen council for review before it returns for formal DDA and city commission approval this spring. As part of the extension, the plan would be renamed Moving Downtown Forward and include a new list of projects that could be funded through TIF over the next three decades.

KeyBank Community Development Lending and Investment provided a $35 million construction loan and $15.7 million in 4% federal low-income housing tax credit (LIHTC) equity to finance the acquisition and rehabilitation of Cambridge Square Apartments, located in Monroeville, Pennsylvania. KeyBank also arranged a $18 million permanent loan through the Fannie Mae forward MBS Tax-Exempt Bond (MTEB) program. The $22 million of tax-exempt MTEB bonds were sold by KeyBanc Capital Markets.

The Nevada State Infrastructure Bank approved the Nevada Facilities Fund, a $100 million revolving loan fund, to assist charter schools with a need that, generally, state funding does not cover for any public schools and is instead often funded through bonds. The loan fund is open to charters operating in, or that want to operate in Nevada that can show strong financials and demonstrate that they impact high-needs, historically underrepresented communities.

The New Jersey Economic Development Authority (NJEDA) approved the creation of the Atlantic City Revitalization Grant Program – a $20 million pilot designed to fund capital projects. The initiative will use American Rescue Plan State and Local Fiscal Recovery Funds and be open to for-profit and nonprofit entities that oversee real estate development projects. Eligible projects must address a negative impact of the pandemic while contributing to AC's revitalization.

The Port of Cleveland, OH Board of Directors recently authorized a bond issuance for the Grand River Walk development in downtown Painesville. The approval allows the port agency, also known as the Cleveland-Cuyahoga County Port Authority, to issue up to $6 million in bonds for Marous Development Group's $33 million project.

The City of Santa Fe's Community Development Department has released the second of two solicitations. The Invitation to Bid (ITB) seeks bids from qualified developers to purchase the seven City-owned tracts and to develop market-rate, affordable, and senior housing, as well as open and recreational space and retail, office, and other commercial units according to the Las Estrellas master plan. The deadline for submissions for the ITB is January 22, 2024. A pre-proposal conference is set for December 27, 2023.

The City of Santa Fe's Community Development Department has released the first of two solicitations aimed at attracting potential partners and bidders to develop a vibrant mixed-use, mixed-income, multigenerational neighborhood in the 550-acre Las Estrellas subdivision in northwest Santa Fe. The first solicitation is a Request for Qualifications (RFQ) from potential City partners and is intended to incentivize the transformation of the approximately 19-acre Las Estrellas Tract 6A into a modern, innovative community with a majority of moderately-priced homes. The deadline for submissions for the RFQ is January 15, 2024.

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