Register Today for the 2023 Federal Policy Conference!
Reserve your spot at the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and the National Development Council, will bring together leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the development finance challenges that state and local governments continue to face. Space is limited; act fast!
Big Transformation of Blighted Ann Arbor, MI Riverfront Site Underway
A long-awaited transformation of a blighted riverfront site in Ann Arbor is officially underway. Crews are actively clearing the site for creation of a seven-acre public recreation and event space along the Huron River north of downtown — on an old DTE Energy property once home to a coal gasification plant off Broadway Street.
Join CDFA for the Return of the Revolving Loan Fund Training Course Week!
Revolving Loan Fund Week is coming up next month, with the Intro Revolving Loan Fund Course on May 1-2 followed by the Advanced Revolving Loan Fund Course on May 3-4. Register for one or both of these courses to learn from experts about developing, implementing, and managing revolving loan fund programs that are efficient and impactful.
A New Forgivable Loan Program Targets Oregon's Private Brownfield Owners
Oregon debuted its $5 million Brownfields Property Redevelopment Fund (BPRF), which offers forgivable loans to private owners and operators to support remediation at sites that are contaminated or perceived to be contaminated. For eligible projects, the BPRF can reimburse up to half of remediation costs or $250,000, whichever is less, and it can provide up to $500,000 for projects that include certain enhancements.
More than $1.9M to Aid 8 Western New York Projects
National Grid, through its robust suite of economic development programs, is providing more than $1.9 million to support eight projects, including Thermo Fisher's Grand Island expansion, Westminster Economic Development Initiative's move to a new location, Sonwil Distribution Co's. multimillion-dollar warehouse, Pine Pharmaceutical Inc.'s Tonawanda expansion, plus restorations of buildings in Lackawanna and Buffalo.
Bringing Jobs to Downtown: Redevelopment of Former Norwich, CT YMCA Continues
The city formally accepted $2 million from the state for brownfield remediation, which it was granted to help it and Mattern Construction redevelop the YMCA property at 337 Main St. With the property moving from ownership limbo, to city ownership, to private ownership, the property will be back on the tax roll, and it will bring jobs to downtown.
Wilson Lofts Construction Completed in Wilson, IA after Nearly a Decade
A project nearly 10 years in the making is officially completed in Clinton. Overall, the project attracted over 12 layers of complex financing to make up the capital stack and includes Federal NMTCs, State Historic Tax Credits, Federal Historic Tax Credits, TIF from the City of Clinton, Brownfield/Grayfield Tax Credits, and Downtown Revitalization Grant by the Iowa Economic Development Authority through the City of Clinton.
DEC Marks Successful Year for New York State's Brownfield Cleanup Program
In 2022, 53 Cleanups were completed, including more than 20 new affordable housing projects, and 72 new sites were accepted into the state brownfield cleanup program. New York State Department of Environmental Conservation (DEC) oversees the state's Brownfield Cleanup Program (BCP), which encourages the voluntary clean-up of contaminated properties known as "brownfields," so these sites can be redeveloped and returned to productive use