CDFA Lifetime Achievement Awards

The CDFA Lifetime Achievement Award is given to individuals who have made an outstanding contribution to the development finance industry throughout their professional career. Winners have made innovative and lasting contributions that have had a great impact on the way development finance programs are operated, managed, and administered. This award honors those individuals and the significant legislative contributions to the advancement of new development finance tools, strategies, and approaches.

Award Recipients

2023

	Laura Canter Laura Canter is Executive Vice President and director of the Finance Programs Division of MassDevelopment, the Commonwealth of Massachusetts’ development and finance authority. Reporting to Ms. Canter are the Commercial Lending, Community Development, New Markets Tax Credit, and Investment Banking practices, with offices throughout the state. The division serves governmental entities, private businesses, and nonprofit organizations with tax-exempt bond... financing, tax credits and alternative loan products. Ms. Canter’s career has been spent in finance, public policy, and economic development. She holds an undergraduate degree in Communications from Emerson College and a MBA in Finance from Bentley University. (More)
	Price Finley Price Finley has been practicing law at Bricker Graydon LLP for over 30 years, all of those focused on public finance. Price has experience in all areas of public finance, including local government, economic development finance, port authority financings, and other structured and project financings. He has substantial experience in the use of various economic development tools, including frequent use of tax increment finance (TIF). Price has also created... and served as counsel for Ohio’s new community authority financings (also known as community development authorities or CDA). In addition, Price’s practice includes assisting local governments and developers in negotiating and documenting development agreements for infrastructure finance and tax incentive arrangements, including community reinvestment areas (CRA), enterprise zones (EZ), and job creation tax credits (JCTC). Price has also created joint economic development districts and zones (JEDD), special improvement districts (SIDs), and he has represented port authorities across Ohio.   Price is a member of the Council of Development Finance Agencies and a member of its Board of Directors, the Ohio Economic Development Association, and the National Association of Bond Lawyers. He received his undergraduate degree from Capital University and his JD/MBA from The Ohio State University. Price received the CDFA Ohio Financing Roundtable Excellence Award: Leadership, in 2014. (More)
	Steve Johnson Steve Johnson leads the Colorado Housing and Finance Authority’s (CHFA) Community Development team which includes Multifamily Lending, Housing Tax Credit Allocation, and Small Business Finance. CHFA’s mission is to strengthen Colorado by investing in affordable housing and community development. Steve began working for CHFA in 1996 as a commercial loan officer and became a Director in 2010. Steve says what drew him to CHFA, and continues to be the most... rewarding part of his job, is the opportunity to do “banking with a mission.” Steve currently serves as Treasurer of the Council of Development Finance Agencies (CDFA) Board of Directors and is a graduate of Hillsdale College (More)

2022

	Robert Heard Robert Heard is a managing director of Cimarron Capital Partners, LLC, an investment firm specializing in regional private equity. The firm and its affiliates manage $270 million for the states of Arkansas, Iowa, and Oklahoma. Each account is designed to help build a private seed and venture capital industry in the client state. In 1994, Mr. Heard formed Edge Development Capital, Inc. (Edge). The firm has served as the incubator for Cimarron and an... affiliate firm, Institutional Equity Associates. He was the first president of the National Association of Seed and Venture Funds, a founding director of the Latin American Venture Capital Association, and the originator of the World’s Best Technologies Showcase. He currently serves as a director of the National Advisory Board of the Federal Laboratory Consortium for Technology Transfer. Mr. Heard earned his undergraduate degree from the University of Oklahoma and his MBA from the J.L. Kellogg Graduate School of Management at Northwestern University. (More)
	Brenda Guess Brenda Guess serves as the Assistant Secretary at Louisiana Economic Development (LED). She is a 35-year veteran of Louisiana Economic Development, with extensive leadership experience in state and municipal government and private sector business. Brenda previously served as the director of LED’s Business Incentive Services office. She administered the tax incentive and small business financing programs, including venture capital, for the State of... Louisiana. Before this position, she served in several capacities with the agency over the last 20 years. She received a B.S. in Marketing from Southern University A & M College in Baton Rouge, LA, and received an M.P.A. as well. (More)
	Carlton Schwab Carlton Schwab has been President/CEO of the Texas Economic Development Council (TEDC) since February 1st, 1999. During that time, the 850-member TEDC has developed into a recognized leader in the professional development of its members and a powerful voice for economic development policy in the state of Texas. In his role as President/CEO of the TEDC, Mr. Schwab has served on numerous boards and commissions. In 2012, he was named by Governor Perry to the... Select Committee on Economic Development – a committee created by the 83rd Texas Legislature to review economic development policy for the state of Texas. In 2015 and 2016 he was the Chair of the Advisory Committee of the Texas Legislative Conference. In 2017, Mr. Schwab was named an Honorary Life Member of the International Economic Development Council (IEDC) and in November 2022 received the Council of Development Finance Agencies (CDFA) Lifetime Achievement Award. Prior to his tenure at the TEDC, Mr. Schwab was Director of Development at the LBJ School of Public Affairs at the University of Texas at Austin (1996-1999). From 1989 to 1996, Mr. Schwab was a Director with Deloitte Consulting where he specialized in corporate site location analysis and economic development strategic planning. Mr. Schwab also spent time working in economic development at the local level, having served as Vice President of the Lubbock Board of City Development from 1986 to 1989. Mr. Schwab raises registered Texas Longhorn cattle and is a Texas Certified Master Naturalist, affiliated with the Balcones Canyonlands Chapter in Austin, Texas. (More)

2021

	Frances Walton Frances Walton is the Executive Director and Partner at Plum Alley Investments. Before joining Plum Alley, Frances was the Chief Financial and Administrative Officer of Empire State Development, the state of New York’s development finance agency, where she served for more than 20 years. During her tenure, she directed commercial banking, investing, and reporting of the financial impact of Empire State Development. She managed the housing and commercial... portfolios and oversaw the financial reporting on contracts and all loans and grants for its economic development programs. During her career, she has also served as Senior Vice President and Director of the State of New York Mortgage Agency’s Mortgage Insurance Fund, Vice President and Manager in the Public Finance Department at Chemical Securities Inc., Managing Director and Director of Public Finance for Lebenthal & Co., Inc., and in various management positions with the Port Authority of New York and New Jersey. (More)
	Joseph Branca Joe has been with Merrill Lynch and the Bank of America for more than 20 years. He has served in senior leadership positions in the Public Finance department, providing investment banking services to major public authorities and governments throughout the Northeast. Before transitioning to the private sector, Joe was the CFO of Empire State Development. Joe served on the Board of the Council of Development Agencies (CDFA) and has been a longtime supporter... of CDFA, helping secure significant resources as the organization grew in the early 2000s. (More)
	Juan Salgado With more than 30 years’ experience in community development, public finance, and affordable housing, Juan serves as the CEO of the Phoenix IDA and the Phoenix Community Development & Investment Corporation where he has been instrumental in developing creative financing structures for job creation, increased housing opportunities, and significant community development in traditionally undeserved markets and poor communities. Prior to joining the Phoenix... IDA, Mr. Salgado served as a Deputy Finance Director for the City of Phoenix where he was responsible for inventory management, accounts, tax administration, and procurement. Juan also served in executive positions overseeing community development lending and Community Reinvestment Act compliance for Bank of America, Wells Fargo, and First Interstate Bank. Juan has received numerous awards throughout his career and has served as a volunteer in various banking and finance capacities, including the Phoenix IDA’s board of directors and the Phoenix Commission on Housing and Neighborhoods. (More)
	David Markovchick Dave has had a long and impactful career in development finance, especially within the Northeast. For almost 20 years, Dave served as Vice President of Business Development at the Finance Authority of Maine, known as FAME. He also worked in public finance for GE Government Finance, and became one of the first two CDFA National Sponsors. He held many roles serving in economic development at other public sector organizations and continues to support FAME... in a consultant capacity to help roll out their strategy for the State Small Business Credit Initiative. He is a former CDFA Board Member and a longtime member of CDFA. (More)

2019

Michael O'Donnell Mike began his career in 1990 as the executive director of the University of Kansas Small Business Development Center. After the University of Kansas, Mike took the helm of a certified development company in Lawrence, Kansas in 1997. In 2000, he joined the nonprofit, mission-based lender, Colorado Lending Source and began expanding outreach and capital access to new and existing small business owners across the length and breadth of Colorado. Mike holds... a Bachelor of Commerce degree from the University of Melbourne and an MBA from the Australian Graduate School of Management at the University of New South Wales in Sydney Australia. (More)

James Carras James Carras is the Principal of Carras Community Investment, Inc., a development finance consulting firm in Fort Lauderdale, Florida. James is also a lecturer at Harvard University’s Kennedy School of Government. He previously served as the Founding Executive Director of the National Association of Affordable Housing Lenders, the Founding President of the Broward Housing Partnership, and the South Florida Community Land Trust. Before establishing his... consulting business, he served as a Community Development Advisor to the Mayor of Boston. He was the Executive Director of the Massachusetts Urban Reinvestment Advisory Group where he was awarded the John Hay Whitney Fellowship. James has a Bachelor of Arts Degree in Urban Sociology from Suffolk University in Boston. He completed his graduate work at Tufts University’s Department of Urban and Environmental Policy and received a Master’s Degree from Harvard University’s John F. Kennedy School of Government Public Administration. (More)

2018

Steven Chilton Steve joined MassDevelopment in 2004 as a Senior Vice President of Investment Banking and manager of the department responsible for all of the Agency’s issuance of tax-exempt and taxable conduit bonds. Steve has 40 years of experience in the municipal bond industry, including as an issuer, investment banker, and municipal credit analyst. He has supported economic development through his focus on private activity bonds and working with CDFA for the past... 14 years to advance legislative initiatives and economic development programs. He is a member of the Boston Security Analysts Society and was previously a member of the CDFA Board of Directors and served on the Executive Committee. (More)

2017

Jo Bradley Jo Bradley is celebrating her 20th year as Chief Executive Officer of the Vermont Economic Development Authority (VEDA). Her previous professional experience includes the positions of Deputy Secretary at the Vermont Agency of Commerce and Community Development, Commercial Loan Officer at VEDA, and Vice President at Solomon Brothers, Inc. in Boston. Under Bradley’s leadership, total assets at VEDA have grown from $65 million to over $288 million. In... addition, VEDA has been innovative in creating and adapting its financing programs. In 1997, VEDA moved to a private funding mechanism. At that time, Bradley led the effort to securitize the Authority’s portfolio, allowing VEDA to borrow its lending funds in the capital markets. Jo has served on numerous state and local boards, such as the State Government representative on the 2007 National Advisory Committee of the Export-Import Bank of the United States (Ex-Im Bank). Jo graduated with Honors from Johnson State College, earning a B.A., and from the Boston University School of Management with an M.B.A. in Finance. She also completed the Program for Senior Executives in State and Local Government at the John F. Kennedy School of Government at Harvard University (More)

Jeff Freese Mr. Freese has 30 years of experience in Public Finance and has been with KeyCorp for over 35 years. As Managing Director of KeyBanc Capital Markets’ Public Finance Group, Mr. Freese provides leadership and oversight to the Public Finance investment banking staff. Indicative of his experiences as an investment banking professional, he has assisted over 500 clients to raise more than $25 billion to finance economic development and governmental projects... throughout the country. Mr. Freese is on the Board of Directors of the Council of Development Finance Agencies (CDFA). Mr. Freese is also a member of the Securities Industry and Financial Markets Association’s Municipal Executive Committee. Mr. Freese has a B.S. degree in Business Administration from Ashland University, holds a General Securities Registered Representative License Series 7, and has Municipal Securities Licenses Series 52, 53, and 63. (More)

2016

Arthur Cohen Arthur is a partner in the public finance department of Hawkins Delafield & Wood LLP. In his more than 30 years of practice, he has specialized in all areas of economic development, with a particular focus in revenue bond financing for economic development and project finance. He has worked with many of the economic development agencies around the country, especially in New York State. The projects in which he has a direct role range from small... industrial, manufacturing, and warehousing facilities, to solid waste disposal and recycling facilities, to airport facilities, and to the reconstruction of multiple Towers of New York’s World Trade Center. He has served as bond counsel, borrower’s counsel, and underwriters’ counsel in a variety of general obligation bond issues and revenue bond issues. On behalf of his firm, he serves as general counsel to the Council of Development Finance Agencies. (More)

2015

James Parks Jim Parks joined the Louisiana Public Facilities Authority (LPFA) in 1995 and has been serving as the chief executive officer. Mr. Parks’ position as President and CEO includes direct supervision of all aspects of the Louisiana Education Loan Authority (Lela), the education loan division of the LPFA. During Mr. Parks’ tenure, the LPFA has allocated over $13.2 billion of bonds for a wide variety of projects. Before coming to the LPFA, Mr. Parks... specialized for over twelve years in the areas of municipal and corporate finance for the law firms of McCollister & McCleary in Baton Rouge, and Foley & Judell, L.L.P. in both Baton Rouge and New Orleans. He is a member of the Louisiana and Florida bar associations and the Society of Louisiana Certified Public Accountants. He currently serves on the Board of Directors of the Council of Development Finance Agencies (CDFA) as Treasurer, the Louisiana Public Health Institute (LPHI), St. Mary’s Residential Training School, and the Louisiana Assistive Technology Access Network (LATAN). Mr. Parks holds a Bachelor of Science degree from Ball State University in Muncie, Indiana, and a Juris Doctor degree from the University of Miami School of Law in Coral Gables, Florida. (More)

Gene Eagle Gene Eagle served as the Vice President for the Arkansas Development Finance Authority from 1985-2014 and the President from 2014-April 2015. As Vice President of the Development Finance Authority, Mr. Eagle was responsible for the staffing, operation, and management of the development finance programs. He was responsible for implementing and administering two equity investment programs, the Arkansas Institution Fund, the Arkansas Risk Capital Matching... Fund, the Seed and Angel Capital Network, and the ADFA Co-Investment Fund. Other work experience includes a private mortgage broker firm in Little Rock, Plunkett, Boerner and Associates, the Arkansas Economic Development Commission, and McIlroy Bank in Fayetteville, Arkansas. Mr. Eagle led the legislative effort that resulted in the passage of the ADFA Efficiency in Operations Act of 2015. This amending legislation was the first major rewrite of the ADFA authorizing statute since its initial passage in 1985. He also led the first Amendment 82 General Obligation Bond Issue of $125M in Arkansas used for the establishment of the Big River Steel Mill. Mr. Eagle led the State Small Business Credit Initiative for Arkansas establishing the Arkansas Seed and Angel Capital Network and the ADFA Co-Investment Fund capturing $13.6M in federal funding (More)

2014

Richard Palank As the Senior Vice President of Business Finance, Rick Palank is an original employee of the St. Louis Economic Development Partnership, working for the organization for more than 30 years. Throughout his tenure, Palank has provided financial services to a multitude of small businesses and spoke at various professional and trade organizations about financing solutions for small business owners. In addition to his position at the Economic Development... Partnership, Palank serves as the President and CEO of the Business Finance Corporation of St. Louis County, an SBA 504-certified development company. He is also President and CEO of the St. Louis County Industrial Development Authority, which issues tax-exempt industrial development bonds for the County. Palank’s vast experience and knowledge in business finance are best reflected in his creation of Regional Growth Capital (formerly Saint Louis Business Development Fund). It is the only for-profit, multi-bank community development corporation serving the St. Louis region. It provides a unique source of financing and makes investments in growing companies without diluting a company’s ownership. Palank serves on the Board of Directors for the Council of Development Finance Agencies and previously served as Chairman from 2008-2009. (More)

2013

Caren Franzini Caren Franzini was the President of Franzini Consulting, LLC. She served as Chief Executive Officer of the New Jersey Economic Development Authority (NJEDA) where Caren oversaw an organization with over $500 million in assets, a $28 million operating budget, and over 150 employees. Before joining the Authority, Caren was an Assistant State Treasurer with the New Jersey Department of the Treasury. Caren served as Chair of the state’s Urban Enterprise Zone... Authority, Vice Chair of the New Jersey Schools Development Authority, and President of the Corporation for Business Assistance in New Jersey. She also was a member of the Board of Directors and served as the president of the Council of Development Finance Agencies. She was also a board member for a number of other organizations. Even though Caren has left us, she has been recognized for her contributions to business growth and economic development in the state, including a past recipient of the New Jersey Chapter of NAIOP’s Industry Service Award; the New Jersey Technology Council’s John H. Martinson Technology Supporter Award; the New Jersey Business & Industry Association’s Paul L. Troast Award for her commitment to improving the state’s economy; and much more. Caren held a Bachelor of Arts degree in Urban Studies from the University of Pennsylvania and a Master of Business Administration degree in Finance and Public Management from the Wharton School of the University of Pennsylvania. (More)

2012

Gary Smith Gary Smith currently serves as the President and CEO of the Chester County Economic Development Council. He first joined the Council in 1976 and pioneered award-winning programs of below-market-rate financing. During his tenure, the Council has secured over $275M in external funding for more than 420 projects ranging from regional economic revitalization to workforce development. The Council’s programs and services have helped to create over 175,000 new... jobs and retain nearly 200,000 more. Throughout his 40-year career, Gary has held many titles on several economic development boards and agricultural agencies, not least of all being CDFA, where he has served as a member and President of its Board of Directors. Gary also is an outstanding model of civic engagement, having been awarded awards such as the Chester County Boy Scout Distinguished Citizen, the Harold Martin Business Leadership Award, the Crystal Ball Award, and TMACC’s Chairman’s Award. He holds an undergraduate degree and MPA from West Chester University. (More)

2011

Bob Lind Bob Lind was the Senior Manager of Special Projects for the Minneapolis Community Planning & Economic Development department, providing services to the Mayor's Office and City Council. CPED, as the development arm of the City of Minneapolis, offers many services to assist businesses in Minneapolis, including a variety of low-interest, long-term loans for small businesses to expand, relocate, improve and renovate their facilities. He has been with CPED... since 1982. Bob served on the Board of Directors and is a past President of the Council of Development Finance Agencies. He also was the fourth recipient of CDFA's Lifetime Achievement Award in 2011. From 1979-1982, he was with the Minneapolis Industrial Development Commission. Before 1979, he taught economics and business finance at the University of New Mexico in Albuquerque, where he received his M.A. degree in Economics. (More)

Mark Huston Mark Huston is the Enterprise Manager for Development Capital Networks (DCN) development funds and is a member of the investment committee for Cimarron Capital Partners. He co-designed and managed DCN programs funded under the U.S. Treasury’s State Small Business Credit Initiative, the Wyoming Smart Capital Network, and North Dakota’s Red River Corridor Fund, co-managed with Praxis Strategy Group. Before that, Mark served as Portfolio Manager on behalf of... Cimmaron for the Iowa Fund of Funds and as Managing Director of Cimarron Business Capital, which managed a $50M development loan program in Oklahoma. Mark also served as a member and president of CDFA’s Board of Directors. He also was a member of the Oregon State Bond Committee and is a certified Development Finance Profession of the National Development Council. Mark was born and raised in a small farming community in southern Idaho. He received a bachelor's degree in Economics from the University of Idaho and an MPA from Arizona State University. He lives in Oregon and is an avid fisherman. (More)

2010

	Stan Provus Stanley O. Provus, 63, lost his battle with cancer on May 7, 2009. After graduating from George Washington University, he joined the Peace Corps and served in Ethiopia from 1968-1973. Stan worked in Ethiopia building manufacturing facilities that employed locals in making leather goods and the “tie-dye” t-shirts of the 60s. After the Peace Corps, he served as various roles, including, but not limited to, the Director for Maine State Housing Authority CEO... for Finance Authority of Maine; and Oklahoma State Bond Advisor. He established Stanley Provus & Associates, Inc. in 1993 to provide consulting and financial advisory services to businesses and organizations. Stan Provus served as the training director and former executive director of CDFA. Stan is known as one of the top bond finance minds in the world. He completed more than $2 billion of tax-exempt financing alone and advised many states on the development of new programs. Over three thousand professionals have attended CDFA bond finance courses developed by Stan. Stan worked for CDFA up until his death in May 2009 and continues to make an impact today through the Council’s bond education programming. (More)
	Paul Gravel Paul Gravel earned both his bachelor of arts and Juris doctorate degrees from Louisiana State University. Following graduation, his professional career began by serving on then-Senator J. Bennett Johnston's staff in Washington, D.C. After working as a legislative aide, he moved back to Louisiana and served as legal counsel for a New Orleans investment firm and on the staff of the Louisiana Senate until he went into private practice in 1977. Paul is best... remembered for his 13-year tenure as the executive director of the Louisiana Public Facilities Authority. In May 1998, he was appointed executive director of the LSU system Division of Federal Affairs, a position that took him back to Washington, D.C. until he died in 2008. Paul Gravel was one of the founders of CDFA in the 1980s, and actively shaped the bond finance industry in Louisiana for several organizations. Paul was very influential in helping CDFA shape its legislative efforts and focus and was a tireless advocate for the development bond industry. (More)
	Elliot E. Franks Elliott Franks claimed Columbia, SC as a home for forty years. He received his bachelor's degree from Morehouse College in Atlanta, GA, and completed the Management Institute at the University of South Carolina's Darla Moore School of Business. He later became general manager for WOIC Radio Station, the first Black-owned radio station in South Carolina. He began his public service career at the request of Gov. Richard W. Riley, serving as the special... consultant to the Office of Small and Minority Business Assistance, Office of the Governor. In 1983, Gov. Riley created the Jobs-Economic Development Authority (JEDA), a new agency for economic development in South Carolina, and selected Mr. Franks to lead as President and Chief Executive Officer until his death on October 16, 2008. His governmental service and extensive service on the boards of various community organizations, including being appointed as executive director of the Brookland Foundation, earned him induction into the South Carolina Black Hall of Fame in 2001. To recognize and remember Mr. Franks, the members of the South Carolina General Assembly, 118th Session, announced the interchange on Highway 277 at Sunset Boulevard and Beltline Boulevard in Columbia, SC as being named in his honor. (More)