CDFA Brownfields Finance Update - July 7, 2020

Having trouble viewing this newsletter? View it online.
Brownfields Financing Update July 7, 2020	Subscribe View Archives

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-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

>>> LEARN MORE

Brownfields Financing Headlines

>>> VIEW MORE BROWNFIELD RESOURCES

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