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CDFA Brownfields Finance Update - May 2, 2023

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Brownfields Financing Update
May 2, 2023
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Brownfields Finance Update

Features

Tulsa, OK Seeking Proposals for Environmental Cleanup Funding
The City of Tulsa and Partner Tulsa are asking for proposals for environmental cleanup funding. They are asking for submissions for funding to clean up brownfield sites. The funding is coming from the Brownfields Revolving Loan Fund. It gives loans to for-profit organizations and grants to non-profits looking to redevelop the areas.

District Detroit, MI Project Wins Nearly $615M in Tax Incentives from State Board
Michigan's economic development board approved a nearly $615 million transformational brownfield plan for the $1.5 billion District Detroit development by Olympia Development and The Related Cos.

Brownsfield Project Earns National Recognition in Spokane, WA
From 2016 to 2021, the city of Spokane worked with Washington State Department of Ecology to clean up and redevelop areas of the Riverfront Park. The partnership leveraged public and private funds to increase the park's diversity and accessibility, making it Spokane's No. 1 gathering space for residents and visitors alike. The cleanup earned the city a Phoenix Award for brownfields excellence at the national Brownfields 2022 Conference in Oklahoma City.

Plans in the Works for Mixed-Use Transit-Oriented Development in West Hartford, CT
The first project to be considered in the Transit-Oriented Development District zone the West Hartford Town Council established last June took a big step forward. The town received a $953,646 Municipal Brownfield Grant from the Connecticut Department of Economic and Community Development (DECD) Office of Brownfield Remediation and Development.

Tennessee Expands Brownfield Redevelopment Incentives
For the third time in four years, Tennessee has expanded brownfield redevelopment incentives. Gov. Bill Lee signed into law SB0271, legislation amending brownfield redevelopment laws related to franchise and excise (F&E) tax credits and tax increment financing (TIF).

Leelanau County, MI BRA Seeks Feedback on Potential Future Projects
Leelanau County Brownfield Redevelopment Authority (LCBRA) is armed with $250,000 in new grant funds and is looking for public feedback about which sites in the county are ripe for brownfield assessments. The process could help the LCBRA grow its list of known contamination sites in the county, as well as help bring about projects aimed at revitalizing those properties for future uses.

Cleaned-Up Brownfield Gets New Life in Perth Amboy, NJ
A waterfront site is going from contaminant to a logistics park. Officials broke ground on a remediated brownfield site that will eventually host a high-capacity storage and distribution center. The project, BridgePort II, is located near Route 95 and the Outerbridge Crossing at 1160 State St., the former site of American Smelting and Refining Co.

Upcoming Events
Advanced Revolving Loan Fund Course

CDFA Tribal Finance Webinar Series: Promoting Access to Capital for Tribal Small Businesses
May 9, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, development finance experts will highlight a variety of finance programs that are helping to increase access to capital for new and existing small business owners.

2023 Equitable Lending Learning Series: Evaluating Risk
May 23, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will provide an overview of the history of risk assessment in lending, discuss technical strategies and best practices for conducting more equitable evaluation of borrowers while maintaining sustainability, and share examples of how these approaches can be put into action.

Brownfields Financing Headlines

Vermont Governor Announces $3.97M in Five Additional Brownfield Cleanup Awards
Vermont Biz | Apr. 28 | Brownfield Financing | Community Development | Economic Development | Housing Finance | Redevelopment

Brownfield Grant Could Help Revitalize Some Berkeley County, SC Communities
WCBD-TV | Apr. 27 | Brownfield Financing | Redevelopment

Brownfield Summit Held in Herkimer, NY to Discuss Redevelopment Options
WKTV | Apr. 26 | Brownfield Financing | Economic Development | Local Finance Program | Redevelopment | State Finance Program

Update on Chelsea, MI's Main Street Park Initiative
The Sun Times News | Apr. 26 | Brownfield Financing | Green Finance | Redevelopment | State Finance Program

Albert Lea, MN Council Approves Agreement for Additional Cleanup of Blazing Star Landing
Albert Lea Tribune | Apr. 25 | Brownfield Financing | Housing Finance | Redevelopment

Federal Funds Add to Support for Benton Harbor, MI Area Ecosystem Restoration
Michigan Department of Environment, Great Lakes, and Energy | Apr. 25 | Brownfield Financing | Community Development | Redevelopment | State Finance Program | Water Finance

Brownfield Cleanup to Begin at Basket Place Site in Batavia, NY
The Batavian | Apr. 21 | Brownfield Financing | Redevelopment | State Finance Program

Cleanup of Pollutants Slows Construction at Future Lincoln Yards Site in Chicago, IL
CBS Chicago | Apr. 20 | Brownfield Financing | Housing Finance | Redevelopment | Urban Development

Chicopee, MA Puts Uniroyal Property Out to Bid after a 10-Year, $40M Cleanup
MassLive.com | Apr. 20 | Brownfield Financing | Community Development | Redevelopment

EPA Proposes Cleanup Plan for Nucor Steel Facility in Marion, OH
U.S. EPA | Apr. 13 | Brownfield Financing | Community Development | Redevelopment | U.S. Environmental Protection Agency (EPA)

Fairfield, CT Seeks Brownfield Cleanup Funds for Proposed Housing Site
Patch | Apr. 12 | Brownfield Financing | Housing Finance | Redevelopment | Urban Development

EPA Highlights Bipartisan Infrastructure Law Funding for Cleanup of Contamination in Illinois
U.S. EPA | Apr. 6 | Brownfield Financing | Economic Development | Federal | U.S. Environmental Protection Agency (EPA)

Brownfield Clean-up Project Underway at Baron Drawn Steel Site in Toledo, OH
WTVG | Apr. 6 | Brownfield Financing | Redevelopment | Urban Development


Highlights from the Online Resource Database

Bipartisan Infrastructure Law State Fact Sheets
Brownfield Financing | Energy Finance | Federal | Infrastructure Finance | State Finance Program | Water Finance
State-by-state fact sheets provide more detailed information about announced funding and projects in each state, along with anticipated funding by category over the next few years.

Bipartisan Infrastructure Law Rural Playbook
Brownfield Financing | Economic Development | Energy Finance | Federal | Rural Development
A roadmap for delivering opportunity and investments in rural America. This playbook is intended to help rural communities understand the available funding for infrastructure provided by the Bipartisan Infrastructure Law and other sources – offering information on the "what, where, and how" to apply for federal infrastructure dollars.

Bipartisan Infrastructure Law Technical Assistance Guide
Brownfield Financing | Economic Development | Federal | Rural Development | Water Finance
This guide provides a list of over 65 technical assistance resources and programs across the federal government to help communities deliver infrastructure projects. The guide is organized by types of infrastructure investments - such as transportation, clean energy and power, high-speed internet, water, resilience, and environmental remediation.

EPA Region 9: Targeted Brownfield and Land Revitalization and Free Technical Assistance Brochure
Brownfield Financing | Federal | Redevelopment
EPA's Region 9 Brownfields Program Sparks Community-Serving Projects in Historically Underserved Neighborhoods and offers free technical assistance in brownfields and land revitalization.


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.


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
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
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  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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