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CDFA Brownfields Finance Update - October 4, 2022

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Brownfields Financing Update
October 4, 2022
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Brownfields Finance Update


Learn Best Practices for Applying to Federal Grants at the CDFA National Summit, Presented by CHFA
The CDFA National Development Finance Summit, Presented by CHFA is happening in Denver, CO on November 2-4. Join us for a workshop discussing best practices for applying to federal grants. Speakers in this session will cover strategies, themes, and trends to write successful grant proposals for funding opportunities across federal agencies.

The Time is Ripe for Communities to Embrace Clean Energy on Brownfields
New federal incentives can help communities repurpose brownfields into brightfields, high-value sites that support a more equitable, clean energy economy. To speed this transition across America, RMI is co-launching the first ever Brightfields Accelerator. Deploying clean energy (typically solar) on brownfields to convert them into "brightfields" is an often overlooked, underdiscussed opportunity that can deliver multiple community benefits and contribute to an equitable, clean energy transition.

Rhode Island Seeks to Approve $50M Green Bond for Environment-Friendly Projects
Money would fund climate resilience programs and low- or no-interest loans for small business green energy projects. $4 million would go to replenish funds in the Rhode Island Department of Environmental Management's brownfield remediation program.

Benefits From Reclaiming Degraded, Abandoned Lands in Pennsylvania
A new report from the National Wildlife Federation found reclaiming degraded land could bring hundreds of millions of dollars to the U.S. economy, create thousands of jobs and fight climate change. Pennsylvania has a third of the nation's abandoned mine acreage, along with old oil-and-gas wells, brownfields and Superfund sites.

Georgia's Largest Ever Brownfield Cleanup Ends
Tucked away off President's Street on the east end of Savannah, a once-polluted site now called the SeaPoint Industrial Terminal Complex is growing. After a 13-year process, Dulany Industries Inc. has finished the largest-by-area brownfield cleanup in Georgia history, both ahead of schedule and under budget.

An $8M Youth Sports Complex Opens on a Formerly Contaminated Site in Camden, NJ
Officials held an opening ceremony for a newly renovated, $8 million sports complex where a synthetic turf football field now spans the old tainted site. It's part of a complete transformation of Whitman Park. Overall, demolition and cleanup cost about $3 million. Renovations and new construction at the complex cost another $5 million, funded by the DEP, Camden Redevelopment Agency, and Camden County.

What is an "Energy Community"?
IRA aims to transform the energy system of the United States through a variety of incentives that encourage the deployment of clean energy technologies. One of the hallmarks of the law is that, unlike most previous federal energy legislation, it ties many incentives to labor requirements, domestic manufacturing, and location of a project, including on brownfields sites.

Brightfield Solar Project on Former Brownfield Site in Illinois Completed
A leading cleantech integrator specializing in energy efficiency and renewable energy, and Inovateus Solar, a top U.S. solar engineering, procurement and construction company, announced the completion of their "brightfield" solar project in Danville, Illinois, which was built on a former General Motors Powertrain Division Plant turned brownfield site.

Upcoming Events
CDFA National Development Finance Summit

CDFA Food Systems Finance Webinar Series: Don't Throw Away Opportunity! Creative Financing for Addressing Food-Related Waste
Tuesday, October 11, 2022 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how innovative partnerships are leveraging creative financing approaches to reduce food-related waste along the supply chain.

CDFA // BNY Mellon Development Finance Webcast Series: Financing Tools to Invest in Clean Energy
Tuesday, October 18, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, experts will provide an overview of the resources and financing tools - such as PACE financing, green bonds, and energy tax credits - that can help communities seize the benefits of investing in clean energy.

Brownfields Financing Headlines

2023 Multipurpose, Assessment, RLF, and Cleanup Grant Resources From EPA
U.S. EPA | Oct. 3 | Brownfield Financing | Economic Development | Federal | Redevelopment | U.S. Environmental Protection Agency (EPA)

Weston Shares Plans for the Former General Electric Site in Cleveland, OH
Cleveland Business Journal | Oct. 3 | Brownfield Financing | Economic Development | Redevelopment

Historic New York Factory to Get $64M Makeover
Multihousing News | Sep. 30 | Brownfield Financing | Economic Development | Redevelopment

Oriskany, NY Seeks Public Input on Revitalizing Waterbury Felt Mill Site
Utica Observer Dispatch | Sep. 30 | Brownfield Financing | Economic Development | Redevelopment

EPA Region 7 Awards $400K to Denison, IA for Brownfields Grant
U.S. EPA | Sep. 30 | Brownfield Financing | Economic Development | Federal | Redevelopment | U.S. Environmental Protection Agency (EPA)

Revitalizing Vacant Properties Along Shooks Run in Colorado Springs, CO
Fox 21 News | Sep. 28 | Brownfield Financing | Economic Development | Federal | Redevelopment

$64M Affordable Supportive Housing Development Was Announced in Rochester, NY
Governor Kathy Hochul | Sep. 27 | Brownfield Financing | Green Finance | Housing Finance | Redevelopment | State Finance Program

Michigan Strategic Fund OKs $5M Loan for Old Studebaker Site in Detroit, MI
The Detroit News | Sep. 27 | Brownfield Financing | Housing Finance | Redevelopment

City of Wooster, OH to Clean Up Former Auto-Repair Property Turned Brownfield
The Daily Record | Sep. 20 | Brownfield Financing | Economic Development | Redevelopment

Up to $169M in Brownfield Grants Available
EP Online | Sep. 16 | Access to Capital | Brownfield Financing | Development Finance Toolbox | Federal | U.S. Environmental Protection Agency (EPA) | Case Studies

Cook County, IL Announces $10M to Revitalize Neighborhoods
Cook County Government | Sep. 13 | Brownfield Financing | Local Finance Program | Redevelopment

EPA Awards $240K in Brownfields Funds to North Dakota Department of Environmental Quality
Office of ND Sen. Cramer | Sep. 12 | Access to Capital | Brownfield Financing | Case Studies

EPA Announces $1M in Cleanup Funds for Montgomery County, PA
The Mercury | Sep. 11 | Brownfield Financing | Economic Development | Federal | Redevelopment

Portage, MI 180-Unit Apartment Development Awarded Up to $4.75M in State Tax Capture
MLive | Sep. 8 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment

The Council of Development Finance Agencies (CDFA) 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, visit www.CDFA.net or email info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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