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CDFA Brownfields Finance Update - July 4, 2023

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Brownfields Financing Update
July 4, 2023
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Brownfields Finance Update


Mark Your Calendar for the 2023 CDFA Virtual Summer School!
Join us August 7-15 for a series of courses presented by the CDFA Training Institute. CDFA Virtual Summer School will offer five different training courses, all held online. Learn from our expert practitioners and experience CDFA's most interactive educational event of the year – all from the comfort of your home or office! All CDFA Virtual Summer School courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program.

West Virginia DEP and Morgan County, WV School Board Cleanup of Brownfields Site
The "Alex" Rickli Memorial Soccer Complex in Berkely Springs, WV, a 10-acre once underutilized former industrial property, is now a state-of-the-art soccer complex. It includes multi-use recreation fields, bioretention gardens, a concession stand, and a beautiful playground with a soon-to-be-installed covered pavilion and expanded parking facilities.

Governor Approves $23.8M in State Funding to Remediate Brownfield Sites in Connecticut
Governor Ned Lamont announced that he has approved the release of approximately $23.8 million in state funding to remediate 480 acres of land across 22 properties in 15 towns and cities across Connecticut and put them back into productive use. The funds are being released through the Connecticut Department of Economic and Community Development's Brownfield Remediation and Development Program.

Brownfield Sites Spur Opportunity in the Power Grid
Over the past few years, climate change coupled with the Biden administration's push for clean energy alternatives has spurred innovation in the power grid. One growing trend among developers, planners, and forward-looking utilities centers is repurposing former brownfields and superfund sites into facilities that produce renewable energy alternatives such as wind and solar energy.

U.S. EPA Awards $500K for Environmental Evaluations in Puerto Rico
The U.S. Environmental Protection Agency (EPA) announced that Leap Social Enterprise Inc. will receive a $500,000 Brownfields Assessment grant to conduct environmental assessments and develop approximately eight cleanup plans at high-priority properties in Puerto Rico. The target areas for this grant are Río Piedras, Carolina and the PR-198 corridor between Juncos and Humacao. Among the priority sites are schools that have closed and are not currently in use.

Claremont, NH Receives $800K for Revitalization of Brownfield Sites
The city of Claremont, NH has received $800,000 in funding from the U.S. Environmental Protection Agency to rehabilitate some brownfield sites. The funding will be directed at city-owned sites that were formerly the home of the Sullivan Machinery Company, a quarrying equipment manufacturer. Manufacturing debris and coal tars have left the land requiring environmental testing and pollution abatement.

U.S. EPA Announces $500K of Brownfields Funding for West Virginia Counties
Brooke and Hancock Counties, WV will benefit from a $500,000 Brownfields assessment grant to the Business Development Corporation of the Northern Panhandle (BDC). The grant funds will be used to assess former industrial properties for redevelopment and revitalization projects. Brownfields funding was essential in remediating the site into what is now the Beech Bottom Industrial Park. The new facility will employ 100 workers, contributing to the revitalization of the area.

Missouri Regional Airport Receives $700K Brownfields Grant
The U.S. Environmental Protection Agency (EPA) has issued a $700,000 grant to the Marion-Ralls Regional Port Authority in northeastern Missouri. The funding is being rewarded through the Brownfields Assessment Coalition Grant program. The funds are earmarked for environmental site assessments.

U.S. EPA Awards $1M Brownfields Grant to Colorado Nonprofit
The U.S. Environmental Protection Agency (EPA) announced the allocation of a Brownfields Cleanup Grant worth $1 million to the Buena Vista, Colorado-based nonprofit Watershed, Inc. This grant will be used to restore the McGinnis Gymnasium. According to the EPA, this round of brownfield grants is the largest-ever package of brownfield MARC (Multipurpose, Assessment, Revolving Loan Fund, and Cleanup) grants awarded in the program's history, dating back to 1995.

Upcoming Events
CDFA Virtual Summer School

CDFA Tribal Finance Webinar Series: Food System Financing on Tribal Lands
July 11, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, panelists will explore how tribal governments are cultivating local food systems with financing solutions that support economic growth and advance community health.

CDFA // BNY Mellon Development Finance Webcast Series: Driving Investment in Main Street Redevelopment
July 18, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, development finance professionals will share creative financing approaches that are being used to reinvest in main street communities around the country.

Brownfields Financing Headlines

Palm Beach County, FL Secures Brownfield Assessment Grant
Town-Crier Newspaper | Jun. 29 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA)

Vinton, TX Celebrates Water Infrastructure Project and Brownfields Funding
U.S. EPA | Jun. 27 | Brownfield Financing | Redevelopment | Water Finance

Brownfields Site in Denver, CO to be Cleaned Up for Housing
KDVR | Jun. 27 | Brownfield Financing | Housing Finance | Redevelopment | U.S. Environmental Protection Agency (EPA)

City of Keokuk, IA, Selected for $2M Brownfields Grant
U.S. EPA | Jun. 26 | Brownfield Financing | Community Development | Redevelopment

How a Tax Credit is Helping Turn New York Brownfield Sites into New Projects
Buffalo News | Jun. 26 | Brownfield Financing | Economic Development | Redevelopment | Tax Credits

U.S. EPA Grant to Cleanup Brownfields in Savannah, GA
WSAV-TV | Jun. 23 | Brownfield Financing | Community Development | Redevelopment | Revolving Loan Funds (RLFs)

92-Acre North Haven, CT Site Receives State Environmental Cleanup Grant
Patch | Jun. 22 | Brownfield Financing | Energy Finance | Redevelopment

Redding, CT's Wire Mill Site Receives State Environmental Cleanup Grant
Patch | Jun. 22 | Brownfield Financing | Redevelopment | State Finance Program

Dallas, TX Receives $1.5M for Brownfield Sites Cleanup
U.S. EPA | Jun. 16 | Brownfield Financing | Community Development | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Former Detroit, MI Automotive Brownfield Site will Become New Housing
State of Michigan | Jun. 15 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

House Committee in Michigan OKs Brownfields Bills to Include Housing
Iosco County News-Herald | Jun. 13 | Brownfield Financing | Housing Finance | State Finance Program

U.S. EPA Region 6 Awards Three Arkansas Projects with Funding
JD Supra | Jun. 13 | Brownfield Financing | Housing Finance | Redevelopment | U.S. Environmental Protection Agency (EPA)

Camden, NJ Project Slated to Receive $1M from EPA for Cleanup of Brownfield Site
U.S. EPA | Jun. 12 | Brownfield Financing | Green Finance | Redevelopment | U.S. Environmental Protection Agency (EPA) | Urban Development

Providence, RI Site Receives $500K Grant for Brownfields Cleanup
WLNE-TV | Jun. 10 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA)

City of Clinton, IA Awarded Brownfields Cleanup Grant
U.S. EPA | Jun. 7 | Brownfield Financing | Federal | Redevelopment | U.S. Environmental Protection Agency (EPA)

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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