CDFA is proud to announce the winners of the CDFA Excellence in Development Finance Awards. These awards honor excellence in the use of financing tools for economic development, as well as individuals who champion these efforts.

While the country waits for Treasury to release regulations governing the operation of Opportunity Funds, which are anticipated to be released this fall, Knox Law has prepared an outline of the five phases of Opportunity Zones development to help local governments take advantage of their designations.

Newark Liberty International Airport's smallest and most antiquated terminal is getting a major upgrade. A $2.7 billion project at the Port Authority of New York and New Jersey-operated facility will build a new terminal to replace 45-year-old Terminal A.

The U.S. Senate passed the Water Resources Development Act by a vote of 99-1. The bill reauthorizes WIFIA, the Drinking Water State Revolving Fund, the Clean Water Act, and authorizes $6.1 billion for Army Corps of Engineers studies.

The North Carolina Rural Center is working alongside the US Small Business Administration and several other NC partners to provide businesses with help in developing post-storm recovery strategies, access to short-term capital to support immediate cleanup costs and cover lost revenue, as well as longer-term support.

Rip Rapson, President of the Kresge Foundation, argues that the strong response by fund managers to the Kresge/Rockefeller LOI shows that investors are engaged and moving quickly to raise capital to invest in Opportunity Zones.

As each natural disaster brings devastation, the aftermath provides opportunities to build on innovations undertaken and lessons learned elsewhere. Notwithstanding the terrible impacts that Maria inflicted on Puerto Rico, the island's recovery provides a useful roadmap for leaders in the Southeast today.

Four high-tech startup businesses in Minnesota, including three owned and operated by women, have been approved for interest-free loans totaling $196,000 under a pilot program at the Minnesota Department of Employment and Economic Development (DEED).

Climate resiliency is becoming an increasingly material issue for utilities that manage water infrastructure and investors who buy the bonds to finance these assets. As climate risks rise, utilities and their bond buyers must address growing questions about the long-term resilience of existing and planned water infrastructure.

The federal policy making environment for the muni market will be more favorable next year if Democrats win back majority control of the U.S. House of Representatives in the November election. With a Democratic majority, the new Ways and Means Committee chair would be Rep. Richard Neal, who has historically supported bond issues like CDFA's Modernizing American Manufacturing Bonds Act.

Minneapolis will offer its first green bonds as part of a $112 million sale, of which the majority will pay for facilities designed to support the city's green and climate initiatives. The proceeds from the $97 million capital improvement green bond series will finance an east side storage and maintenance facility and a new public service building,

With the silver tsunami of retiring baby boom entrepreneurs, our local business landscape is poised to go through a dramatic shift. Unfortunately, few owners have transition plans and many businesses are at risk of closing. Rather than losing what has been built, helping these firms transition to employee ownership is a way to keep companies locally owned over the long run and retain good jobs. During this installment of the CDFA // BNY Mellon Webcast Series, we will discuss how economic development leaders are incorporating employee ownership into their plans, and how development finance is helping small businesses.

The Alaska Industrial Development and Export Authority (AIDEA), a public corporation of the State of Alaska, is recruiting for an Investment Officer Project Finance professional. This position will remain open until filled and is located in Anchorage, Alaska.

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