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CDFA Brownfields Finance Update - April 5, 2022

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Brownfields Financing Update
April 5, 2022
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Brownfields Finance Update

Features

Grant Awarded to Manitowoc, WI for City Revitalization Effort
A $35,000 Brownfield Grant has been issued to the City of Manitowoc to help pay for the assessment of potential environmental contamination at an area property. The grant was announced by the Wisconsin Department of Natural Resources on Monday, with the funds coming from the DNR's Wisconsin Assessment Monies program.

EPA Proposes Superfund Site in Georgetown, DE
The U.S. EPA is proposing to add the sites of two former Georgetown dry cleaning businesses to the agency's Superfund national priorities list. The site is to be known as the Georgetown North Groundwater site and includes the locations of the former Georgetown Dry Cleaners and Thoro-Kleen Dry Cleaners.

Push to Renew New York State's Brownfield Cleanup Law as Part of the Budget
The Brownfield Cleanup Program is set to expire this year, unless state legislators authorize a renewal. Supporters of the program would like to see that done as part of the budget. Gov. Kathy Hochul has proposed a ten-year renewal, but the legislature hasn't made the same commitment. The state Senate has recommended extending the program for five years.

Cleanup Updates for Former Howe's Leather Property in Curwensville, PA
A public session was held during the business meeting of the Clearfield County Industrial Development Authority to offer a progress report on the remediation of the former Howe's Leather property in Curwensville. In 2020, the U.S. EPA announced it had awarded CCEDC a $500,000 Brownfields Cleanup Grant to continue rehabilitation of the property. CCEDC acquired the property in 2014 and has been overseeing work to cleanup the property since that time.

New Legislation Aims to Allow for Former Industrial Brownfield Sites to Be Revitalized
New legislation introduced aims to bring new economic developments to former industrial or brownfield sites, such as Buick City in Flint. The Rust to Revitalization Act would allow Buick City and other former industrial and brownfields sites across the country to qualify as Opportunity Zones, hopefully generating investment and environmental renewal.

New York State Hits 1GW of Community Solar
The ribbon cutting for DSD Renewables' new 7.5MW community solar project in Schenectady County, New York was met with considerably more fanfare than a typical project of its capacity. The state of New York has now reached more than 1GW of community solar installed and operational. The community solar project in Schenectady that triggered the benchmark is also notable for being a brownfield solar installation.

U.S. EPA Designates Greenpoint, NY Site a Superfund Site
The U.S. EPA has finalized its decision to designate Greenpoint's Meeker Avenue Plume a Superfund site, setting the stage for a federally-supervised scrub of the site, possibly funded by the companies responsible for polluting the neighborhood. The roughly 50-block Plume is comprised of soil and groundwater contaminated with dangerous chlorinated volatile organic compounds.

City Council Approves TIF to Support Redevelopment of Brownfield in East Providence, RI
The City Council approved a TIF supporting the $100M redevelopment of a long vacant brownfield and former industrial site into a new residential development that includes market rate and affordable housing units. The new development will also include public access to the Seekonk River and Omega Pond for the first time since the 1880's.

Upcoming Events
Intro Tax Increment Finance WebCourse

CDFA Infrastructure Finance Learning Series: Breaking Down the Infrastructure Investment and Jobs Act (IIJA)
Tuesday, April 19, 2022 - 1:00 PM - 4:00 PM Eastern
This session serves as the basis for future installations in the series, providing knowledge and understanding of the Act with a deep dive into the IIJA. Development finance and legislative experts will review the current status of the Act and highlight new and existing federal programs that attendees can leverage for infrastructure investments.

CDFA // BNY Mellon Development Finance Webcast Series: Investing in Resiliency with Green and Blue Bonds
Tuesday, April 19, 2022 - 2:00 PM - 3:00 PM Eastern
To support local communities and our environment, innovative financing solutions have been created to allow corporate or personal investors to invest in these bonds. Experts in this session will discuss the market for green and blue bonds, public engagement, and ways to invest in resilient infrastructure projects.

CDFA-Bricker Webinar Series: Organizing PACE Programs
Tuesday, May 3, 2022 - 2:00 PM - 4:00 PM Eastern
In this session, PACE experts will provide an overview of the different PACE Program models throughout the country and then review the critical aspects of good Program Administration along with how some Programs go "above and beyond".

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

South Bend, IN Neighborhood Will Finally Be Treated
South Bend Tribune | Apr. 4 | Brownfield Financing | Redevelopment | Social Finance

Land Bank Gearing Up for Demolition Projects in Defiance, OH
The Crescent-News | Mar. 31 | Brownfield Financing | Local Finance Program | Redevelopment

Marshalltown, IA Works Towards Redevelopment
Times-Republican | Mar. 31 | Brownfield Financing | Redevelopment

Proposed Inland Fisheries & Wildlife Complex in Augusta, ME Could Clean Up Polluted Site
Kennebec Journal | Mar. 31 | Brownfield Financing | Redevelopment | State Finance Program

American Rescue Plan Helps Fix Local Brownfields, and More in Pinellas County, FL
83 Degrees | Mar. 29 | Brownfield Financing | Infrastructure Finance | Redevelopment

$15M State Grant Awarded for Cleanup of Former Sappi Paper Mill in Muskegon, MI
MLive | Mar. 28 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

Land Bank Seeks Feedback on Asbestos Cleanup Plan for Flint, MI Properties
Flint Beat | Mar. 28 | Brownfield Financing | Redevelopment | Urban Development

Brownfield Site Could Become Lyndon, VT Tourist Destination
WCAX-TV | Mar. 27 | Brownfield Financing | Community Development | Redevelopment

$14M in Brownfield Incentives for Spectrum Health Site in Michigan
MiBiz | Mar. 23 | Brownfield Financing | Legislative

Governor Adds $2.8M to Brownfield Cleanups Statewide
Vermont Business Magazine | Mar. 23 | Brownfield Financing | Community Development | Economic Development | Redevelopment

Ann Arbor, MI Development Earns Award for Addressing Pollution Spreading to River
MLive | Mar. 21 | Brownfield Financing | Housing Finance | Redevelopment | Urban Development

Indianapolis, IN Competes for $75M to Redevelop Brownfields
Indianapolis Business Journal | Mar. 18 | Brownfield Financing | Economic Development | Redevelopment

EPA Officials Tour Huntington, WV Brownfields
Charleston Gazette-Mail | Mar. 17 | Brownfield Financing | Economic Development | U.S. Environmental Protection Agency (EPA)

Racine, WI Looking to Replenish Funds Used for Brownfield Cleanup
The Journal Times | Mar. 14 | Access to Capital | Brownfield Financing | Redevelopment | Revolving Loan Funds (RLFs)

The Consequences of Real Estate's Brownfield Tax Incentive
Propmodo | Mar. 13 | Brownfield Financing | Redevelopment | Social Finance



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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CDFA National Sponsors

  • BNY Mellon
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  • MuniCap, Inc.
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  • PGAV Planners, LLC
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  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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