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Brownfields Financing Update
October 2, 2018
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Brownfields Finance Update

Features

Free Technical Assistance at CDFA's Project Marketplace in Dallas on Nov 8
The CDFA National Summit is a deal-making event at its core, and the CDFA Project Marketplace brings this theme to the forefront by featuring projects in search of financing. Everyone attending the CDFA National Summit is invited to hear the project presentations and offer technical assistance about potential solutions.

CT Invites Brownfield Cleanup Fund Requests
Gov. Dannel P. Malloy and the state Department of Economic and Community Development extended invitations for formal requests to the state's Brownfield Remediation Program. The initiative provides opportunities to investigate, clean up, and revitalize blighted properties that have fallen into disrepair and puts them back into productive use in ways that benefit local economies.

Seattle, WA Turn Brownfields into Affordable Housing
Washington state is partnering to work with local governments and communities across the state to promote redevelopment of former contaminated cleanup sites into much needed affordable housing. The Legislature directed various departments to develop a competitive process to fund recipients that restrict the use of their cleaned-up property to affordable housing. 

Bringing a Kansas City, MO Building Back to Life
A historically significant dormant Kansas City building was redeveloped into a new mixed-use development that would include a Hotel Indigo with 118 boutique hotel rooms and nearly 30 apartment units. Coordination of Historic Tax Credits, New Markets Tax Credits, Brownfield Tax Credits, Property Assessed Clean Energy (PACE) financing and a property tax abatement was needed to make the project possible.

Dunkirk and Jamestown, NY Land Grants for Brownfield Opportunity Area
Governor Andrew M. Cuomo announced the designation of two new Brownfield Opportunity Areas in Dunkirk and Jamestown in Chautauqua County. The designations cover more than 1,200 acres of neglected, dormant and blighted properties in the two communities and help the localities implement revitalization strategies to rebuild the affected areas and spur economic growth.

Brookhaven, NY Brownfield Report Finds 633 Potentially Contaminated Sites
Brookhaven planning officials have identified more than 633 potentially contaminated properties — more than double what they expected — that could be in need of remediation and redevelopment in the greater Bellport area. Most of the parcels are the site of warehouses, auto and manufacturing businesses where oils, liquids and antifreeze leak into soil and groundwater.

Both Debt and Equity Utilized in $53M VT Redevlopment
The Putnam Block project in Bennington, VT recently received a $500,000 equity commitment from the Vermont Community Foundation, bringing total project equity investments to $2 million. Equity will  leverage nearly $23 million in grants, loans, preferred equity and tax credits to complete the project.

Expanding Incentives for Brownfield Redevelopment: What Has Changed?
The Brownfields Utilization, Investment and Local Development (BUILD) Act was enacted as part of the Consolidated Appropriations Act of 2018. The BUILD Act provides additional protections and enticements for brownfield redevelopments while prioritizing the development of renewable energy and energy-efficient projects. 

Upcoming Events
CDFA National Development Finance Summit

CDFA Federal Financing Webinar Series: U.S. Economic Development Administration (EDA)
October 18, 2018 - 2:00 PM Eastern
In this webinar, CDFA will convene experts on the EDA, as well as current and past recipients of EDA programming, to discuss the agency's offering of programs and initiatives. Notable programs that CDFA will highlight includes the Revolving Loan Fund Program, the Public Works Program, and the Planning Program.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

Harbor Isle, NY Brownfield to Be Cleaned to Make Way for Condos
Long Beach Patch | Oct. 1 | Brownfield Financing

Bay City, MI Elks Lodge to Open after Brownfield Cleanup at Site
M Live | Oct. 1 | Brownfield Financing

MI Grants $205K to Development to Remove Contaminants
The Detroit News | Oct. 1 | Brownfield Financing

Cortlandt, NY Brownfield Site Placed on National Superfund List
The Post Journal | Oct. 1 | Brownfield Financing

Huntington, WV Moving Forward with Brownfield Development
Herald Dispatch | Oct. 1 | Brownfield Financing

Brownfield Grant to Aid in Redeveloping in Mckinley Township, MI
News Review | Oct. 1 | Brownfield Financing

Former General Motors Site in Janesville, WI Set for Redevelopment
Gazette Xtra | Sep. 27 | Brownfield Financing

Remediation Is Safe When Done Right
San Francisco Examiner | Sep. 27 | Brownfield Financing

N. Hempstead, NY to Get $150K for Brownfield Study
Libn.com | Sep. 27 | Brownfield Financing

Hot Springs, AR Ready to Move to Redevelopment Phase
The Sentinel Record | Sep. 25 | Brownfield Financing

Contaminated Belding Lot on Path to Redevelopment in Ionia, MI
Ionia Sentinel-Standard | Sep. 25 | Brownfield Financing

$102M Brownfield Project in Downtown East Lansing, MI on Track
Lansing State Journal | Sep. 19 | Brownfield Financing

Detroit, MI Receives $205K Brownfield Redevelopment Grant
Environmental Protection | Sep. 14 | Brownfield Financing



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
info@cdfa.net


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