Through the new city program, grant and loan money up to a maximum of $500,000 per grant or loan is now available for developers in both the private and public sector who own, lease or have a purchase agreement in place for a brownfield property and who desire to assess or remediate it.

Homes and commercial spaces will take the place of contaminated Flint properties thanks to a grant from the state. The Michigan Department of Environmental Quality awarded Flint a $499,995 Brownfield Grant to revitalize and restore multiple properties.

The Kresge Foundation is anchoring two Opportunity Funds with $22 million in first-loss capital, on the condition that fund managers agree to measure and track their impact. Arctaris Impact and Community Capital Management are launching Opportunity Zone funds, which together are looking to raise and invest $800 million.

The Joplin Recovery TIF includes virtually all of the disaster area from the May 2011 tornado and was established in 2013. The recovery TIF was originally expected to be paid off in 2033, but now is projected to be paid off by 2020. Once paid off, it's expected to generate more than $3 million in tax revenue.

The Arlington County Board approved the recently announced incentives package for Amazon. Under the proposed package, Amazon could receive a direct payout estimated to be worth $23 million directly from the county and benefit from $458 million in transportation, housing and infrastructure spending.

There generally are two credits for renewables, the production tax credit (PTC) and the investment tax credit (ITC). Taxpayers utilizing the PTC only can hope to salvage a portion of the credit before it disappears entirely at year's end, taxpayers utilizing the ITC have until the end of the year to qualify for the full credit before the phasedown begins.

The IRS has approved Opportunity Zone designations for 8,700 of the 73,057 Census tracts in the United States. "Uncertainty over the rules is a big deal and has limited the amount of capital flowing into these investments," said Tim Fisher, manager of government affairs for the Council of Development Finance Agencies. 

IRS draft regulations currently under consideration do not appear to allow for inclusion of brownfields in the Opportunity Zones created by the Tax Cuts and Jobs Act. That could mean a real lost opportunity for many communities since brownfields often are in the very areas that the Opportunity Zone program is intended to benefit.

The Internal Revenue Service is facing increasing pressure to clarify that the public use requirement for tax-exempt private activity bonds that finance multifamily housing can be applied to preferences for military veterans. Six U.S. senators from CA, HI, NV and TX sent a letter to the IRS Commissioner Charles Rettig addressing the issue.

Indianapolis and Marion County will sell more than $623 million of tax-exempt debt that taps a new revenue pledge to fund a criminal justice complex billed as a cornerstone of reform plans. The consolidated city-county government is pricing $610 million of bonds for the long-anticipated project, plus roughly $13 million of bonds to finance an assessment and intervention center.

During this installment of the CDFA // BNY Mellon Webcast Series, our expert speakers will discuss the financing structure that supported Plaza 122, a place based specific solution for a community in need.

>>> SEARCH HEADLINES