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CDFA Brownfields Finance Update - July 7, 2020

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Brownfields Financing Update
July 7, 2020
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Brownfields Finance Update

Features

An Overview of HB168 and the BFPD
The establishment of the BFPD into Ohio law better aligns Ohio law with federal standards, and aims to encourage the redevelopment of lightly contaminated brownfield sites. This webinar is hosted by the Greater Ohio Policy Center.

Brownfield Infusion Will Boost West Shore Bank Project
Documents show the plan through tax increment finance capture will reimburse $3.49 million to the city, $3 million to the developer for non-environmental work and $140,250 to the developer for environmental work and planning.

Turning Brownfields into Community Benefits: New Pathways for Local Government and Renewable Energy Partnerships
The Accelerated Renewable Energy Growth and Community Benefit Act, passed by the New York State legislature, specifically prioritizes siting of large-scale renewable projects on landfills, brownfields, and other underutilized properties, bringing more attention to municipal landfills and other dormant sites.

MEDC's Michigan Strategic Fund Provides Support for 3,100 Small Businesses
The Michigan Strategic Fund approved new economic assistance for small businesses, community revitalization projects, and a business expansion. These programs reach all 83 counties in the state, assisting businesses across a range of industries, including food service, retail, health care, construction, and professional services, among others.

New 5-Story Waterfront Residential Complex Coming to Bay City
Local support includes a portion of the brownfield Tax Increment Financing valued at $16,268,658 for the first phase of the project as well as $6 million in local municipal bonds to support the creation of vital infrastructure needed for the second phase.

U.S. EPA Provides Technical Assistance to Rockford
The revitalization strategy will focus on an area surrounding the South Main corridor, which aligns with the target area of a $300,000 EPA Brownfields Assessment Grant.

Housing Planned Next to St. Louis Park Church
The city's Economic Development Authority reviewed Project for Pride in Living's application for $1.1 million in tax increment financing to "enable the project to become financially feasible and proceed," said Greg Hunt, the city's economic development coordinator. The city is proposing $375,000.

EPA Helping Convert Mercury Building Into 'Boutique Hotel'
The federal government is going to help cover the cost of converting the former Mercury newspaper building into a "boutique hotel" with a $227,000 loan from the agency's brownfields program.

Upcoming Events
CDFA Virtual Summer School

CDFA-ARI Rural Finance Webinar Series: Access to Capital and Community Facilities
Wednesday, July 8, 2020 - 1:00 PM - 2:30 PM Central
During the fourth installment of the CDFA-ARI Rural Finance Webinar Series, join us for a discussion of community facilities resources and other accessible capital for rural community development.

CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
Tuesday, July 14, 2020 - 11:00 AM - 1:00 PM Eastern
This webinar will take a look at the use of PACE in the context of green and sustainability goals and metrics. How will PACE fit into a community's effort to drive a more sustainable economy while pushing economic development goals and objectives? How can PACE be a driver of green principles and strategies to make a community more environmentally friendly? Join industry leaders for a discussion that answers these questions and more.

CDFA // BNY Mellon Development Finance Webcast Series: Financing Small Business Recovery After COVID-19
Tuesday, July 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, join us for a discussion about the impacts of COVID-19 on access to capital and how finance tools have evolved to meet the growing needs of small businesses as the nation works towards economic recovery.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

EPA Announces $300K to Texarkana, TX, for Additional Clean up and Reuse of Brownfield Sites
Texarkana Gazette | Jul. 6 | Brownfield Financing | Revolving Loan Funds (RLFs)

Hardwick Awarded Clean-Up Funding for Yellow Barn Project Site
Vermont Biz | Jul. 6 | Brownfield Financing

New Ohio Law Provides Legal Protections to Brownfield Developers
Thompson Hine LLP | Jul. 1 | Brownfield Financing

Historic Grain Elevator Could Be Moved for New Office Development
G&G Newspapers | Jun. 23 | Brownfield Financing

EPA Announces $900K to Brownfield RLFs in New York
EPA | Jun. 18 | Brownfield Financing | Revolving Loan Funds (RLFs)

Construction Begins on $12.4M Mixed-Use Project on Delaware Avenue
WIVB | Jun. 16 | Brownfield Financing

EPA Announces FY 2019 Superfund Accomplishments Report
EPA | Jun. 12 | Brownfield Financing

Indiana Finance Authority Receives $300K From EPA
Inside Indiana Business | Jun. 11 | Brownfield Financing

EPA Invests $300K Toward Cleaning up Brownfield at Samoa Peninsula
Times Standard | Jun. 11 | Brownfield Financing

EPA Announces $660K to Clean up and Reuse Brownfields
Vermont Biz | Jun. 11 | Brownfield Financing

Sixteen-Story Condo and Apartment Project Planned for Detroit, MI's Greektown
The Detroit News | Jun. 11 | Brownfield Financing | Tax Increment Finance (TIF)

EPA Announces $6.9M in Supplemental Funding for Brownfield RLFs
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

What They Are Saying: Trump Administration's Cleaning up Contaminated Sites Across the Country
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Announces $600K to City of Tulsa, OK DEQ
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

St. Louis County Receives $300K to Clean Up and Reuse Brownfield Sites
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Announces $600K to Clean Up Brownfield Sites in Kentucky
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

Foundation's $1.5M Investment Targets Creation of Workforce Housing
Rapid Growth Media | Jun. 3 | Brownfield Financing | Tax Increment Finance (TIF)



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

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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