Heading: Arizona Finance Authority Receives Distinguished Development Finance Agency Award

The Arizona Finance Authority (AFA) has been recognized with the Distinguished Development Finance Agency – State Award by the Council of Development Finance Agencies (CDFA). This prestigious award acknowledges the AFA’s efforts under Governor Katie Hobbs to promote inclusive economic development, create jobs, and enhance local economies.

At a ceremony held during the CDFA National Development Finance Summit, the AFA was honored for its commitment to making communities better places to live. Governor Katie Hobbs emphasized the importance of diverse and sustainable economic development in Arizona, highlighting the reactivation of the Greater Arizona Development Authority (GADA) to provide infrastructure financing for rural and Tribal communities.

The AFA’s Board Chair, Robin Romano, expressed gratitude for the recognition and emphasized the agency’s dedication to empowering jobs, rural communities, and small businesses across the state. AFA Executive Director Gregg Ghelfi highlighted the agency’s streamlined process for providing affordable financing to borrowers and reiterated their commitment to driving meaningful change.

The recent reactivation of GADA has seen a new round of financial assistance open for the first time since 1997, with over $30 million in financing applications received. The recipients of funding will be announced in early 2025, with a focus on supporting public infrastructure projects in rural communities and tribal governments.

For more information and to access the funding application, visit the Arizona Office of Economic Opportunity (OEO) website. The OEO, which houses the AFA, works to strengthen Arizona’s workforce and economy by offering innovative and sustainable financing solutions for public and private borrowers.

Overall, the Distinguished Development Finance Agency – State Award recognizes the AFA’s leadership in promoting economic development and providing essential financial support to drive growth, sustainability, and opportunity statewide.
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