Technical Assistance


CDFA Brownfields Finance Update - May 5, 2020

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Brownfields Financing Update
May 5, 2020
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Brownfields Finance Update


EPA Releases Guide That Drives Brownfields Development
The United States Environmental Protection Agency (U.S. EPA) recently developed a Guide to help communities with brownfields to more successfully address community revitalization and brownfields-related challenges.  The guide outlines concrete actions communities can take to address these challenges.

More Money for Brownfield Solar Offered, But Better Land Protection Needed
Rhode Island is offering a new pot of money for solar development on land that isn't forest or open space. Beginning May 5, solar arrays proposed for contaminated former industrial sites, known as brownfields, can apply for a share of $1 million on a first-come, first-served basis through the state Renewable Energy Fund.

New York Department of Environmental Conservation Issues COVID-19 Guidance on Environmental Cleanups and Brownfields
With the deepening of the COVID-19 crisis, the NYS Department of Environmental Conservation has issued guidance addressing "numerous" questions it has received concerning the potential impact of Executive Order 202.6 on activities overseen by DEC's Division of Environmental Remediation. Guidance posted on the DEC website clarifies that it considers the following activities to be essential.

Monroe, MI Forgoes Aid to Raze La-Z-Boy Building
The demolition and abatement instead will be completely funded by brownfield bonds the city already was intending to issue. The City of Monroe is forgoing roughly $1.1 million in financial aid that was intended to be used for environmental work and abatement of hazardous materials at the former La-ZBoy world headquarters.

Brownfield Plan Would Have City Fronting Money for Lofts
The city planned for the Cadillac Lofts to get a Community Development Block Grant to fund public improvements. But those funds aren't available right now due to the COVID-19 "stay home" order, which prevents an in-person survey from taking place. Instead, city leaders have proposed that the improvements be paid for using the brownfield's tax capture mechanism.

EPA Proposes Plan to Protect Residents at Arsenic Mine Superfund Site in Kent, NY
The U.S. Environmental Protection Agency (EPA) is proposing a cleanup plan for the Arsenic Mine Superfund Site in Kent, N.Y. that includes offering to purchase certain contaminated properties and permanently relocate affected residents to prevent exposure to arsenic-contaminated soil. Once the properties are vacated, the homes would be demolished.

Michigan Strategic Fund Announces Assistance for Communities and Small Businesses Impacted by COVID-19
The Grand Traverse County Brownfield Redevelopment Authority received MSF approval of a Brownfield Act 381 Work Plan including state tax capture of $3.9 million to support a community development project in the Eighth Street Corridor in Traverse City.

VEDA Approved Over $16M in Financing Last Quarter
Of the $16 million in loan approvals, $9 million were in direct commercial loans, $2.5 million in small business loans, $2 million in agricultural loans, and another $2 million in renewable energy loans. VEDA also facilitated the approval of $483K for its affiliate loan programs like the Drinking Water State Revolving Loan Fund and the Vermont Brownfields Revitalization Fund.

Upcoming Events
Intro Tax Increment Finance WebCourse

CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
Tuesday, May 12, 2020 - 11:00 AM - 1:00 PM Eastern
During this installment of the CDFA-Bricker PACE Webinar Series, learn about the basic principles of PACE financing from experts from across the field including the origins and laws of PACE financing, current market trends, and eligible technologies including energy efficiency and alternative energy technologies.

CDFA // BNY Mellon Development Finance Webcast Series: Historic Preservation Financing
Tuesday, May 19, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore the challenges of historic preservation projects and how financing tools can be combined to make preservation projects possible.

CDFA Food Systems Finance Webinar Series: The Landscape of Food Systems Finance
Thursday, May 28, 2020 - 2:00 PM Eastern
For the second installment of the CDFA Food Systems Finance Webinar Series, we will present key initiatives and programs being used to finance local food systems, and how CDFA is continuing to prove the food system as an asset class.

CDFA Brownfields Technical Assistance Program

Brownfields Financing Headlines

EPA Reflects on 50 Years of Earth Day
EPA | Apr. 16 | Brownfield Financing

Herkimer County IDA Plans Study of Landfill Site
Times Telegram | May. 5 | Brownfield Financing

Brownfield Solar Project for Renewable Energy Program Complete
Business Wire | May. 5 | Brownfield Financing

Hotel Developer Sues Revlon Over Deodorant Can Dumping
West Fair Online | May. 5 | Brownfield Financing

Environmentally Challenged Property Foreclosures In A Crisis
LAW 360 | May. 5 | Brownfield Financing

Sugar Loaf Developer Requesting $6.5M in Clean-Up Costs
Record Eagle | May. 5 | Brownfield Financing

Lansing, MI City Council to Vote on Downsized Red Cedar Project 
City Pulse | May. 5 | Brownfield Financing

Precast Offers a Solution to Revitalizing Blighted Brownfield Sites
Kansas City Business Journal | May. 5 | Brownfield Financing

Construction on Temple Lofts in Old Town Almost Ready to Begin
Lansing City Pulse | May. 5 | Brownfield Financing | Tax Increment Finance (TIF)

Potrero Power Station Redevelopment on Track for Final Approval
San Francisco Business Times | May. 5 | Brownfield Financing

Thinking Robot Studios Shifts Plan to New Site on Elk St.
The Buffalo News | May. 5 | Brownfield Financing

Former Fort Ord Army Base Recognized with Reuse Award
EPA | Apr. 30 | Brownfield Financing

EPA Announces its 2020 Federal Facility Excellence in Site Reuse Award Winners
EPA | Apr. 30 | Brownfield Financing

EPA Awards $9M in GLRI Funding in The Great Lakes
EPA | Apr. 14 | Brownfield Financing | Water Finance

Monmouth, IL Proceeds With TIF Plan
The Register Mail | Apr. 8 | Bond Finance | Brownfield Financing | Tax Increment Finance (TIF)

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.

Disclaimer: This publication was developed under Assistance Agreement No. TR-83576801-0 awarded by the U.S. Environmental Protection Agency. It has not been formally reviewed by EPA. The views expressed in this document are solely those of Council of Development Finance Agencies and EPA does not endorse any products or commercial services mentioned in this publication. 

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


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