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CDFA Brownfields Finance Update - October 3, 2023

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Brownfields Financing Update
October 3, 2023
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Brownfields Finance Update

Features

2023 CDFA National Development Finance Summit Early Bird Rates Ending
The 2023 CDFA National Development Finance Summit is one month away and this is your last chance to lock in early bird pricing. Register by October 13 to save! We're excited to see you in Philadelphia!

DevelopOhio Economic Incentives Toolkit - An Effective Economic Development Toolkit for Growth and Job Creation
This guide from Bricker Graydon outlines the array of tools with which Ohio economic development practitioners can intervene to stimulate or induce development to occur in their communities. This guide also assists practitioners by identifying programs, clarifying changes to existing programs, and introducing effective new options to consider. If knowledge is power, this guide provides practitioners with the unique ability to empower their communities or businesses to accomplish a variety of economic development objectives.

Brownfield Sites Program to Receive $235M for Cleanups
The U.S. Environmental Protection Agency (EPA) announced the availability of $235 million in grants to assess and clean up polluted brownfield sites across the country. The new grants through EPA's Brownfields Multipurpose, Assessment, and Cleanup (MAC) program will advance environmental justice and help transform what were once polluted, vacant, and abandoned properties into community assets while spurring economic revitalization in underserved communities.

City of Monroe, LA to Receive Over $800K Grant to Assist With Cleaning up Property
The City of Monroe will have a check presentation for the U.S. Environmental Protection Agency's (EPA) Brownfields Cleanup Grant Program. According to the officials, the city will be awarded $827,900 by the EPA and the funds will be used to prepare cleanup plans, conduct community engagement, and clean up the property.

$103M Tax Credit Could Transform Empty Grand Rapids, MI Factory into Housing
A rarely used tax incentive is being considered for a $147 million development. The incentive is known as Transformational Brownfield funding. It would reimburse the developer with $103 million in state and local tax revenue, generated as a result of the development, over a 27-year period.

New Jersey Institute of Technology Receives Funding For Brownfield Cleanup
New Jersey Institute of Technology (NJIT) was recently awarded $10 million from the U.S. Environmental Protection Agency (EPA) as part of the "Investing In America" agenda advocated by President Joe Biden. This money will primarily fund NJIT's Technical Assistance to Brownfields, or TAB. The program is focused on guiding governments, Tribal entities, and nonprofits toward cleaning up and eventually reusing brownfield sites.

Innovative Remediation Projects Breathe New Life into Buffalo, NY
From an impactful cleanup of New York's Buffalo River to former industrial sites being transformed to generate solar power, remediation brings value to communities and the people who live there through recently transformed spaces and the use of technology to enable continued creativity for redesigns.

U.S. EPA Announces $800K Brownfields Grant in South Dallas, TX
The U.S. Environmental Protection Agency (EPA), Congresswoman Jasmine Crockett (TX-30), and city of Dallas Councilmember Adam Bazaldua celebrated a grant of $800,000 to St. Philip's School and Community Center in South Dallas for assessment and cleanup of brownfields sites in the South Dallas Forest District. Funding for the grant comes from the Bipartisan Infrastructure Law, part of the Biden-Harris Administration's historic Investing in America agenda.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Financing Water Infrastructure Projects
October 17, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, presenters will examine how communities across the country are addressing challenges in financing water infrastructure projects.

CDFA Tribal Finance Webinar Series: Funding Healthcare Facilities on Tribal Nation Reservations
October 24, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss financing tools and programs that tribal nations are using for healthcare facilities that better serve their unique community needs.

Brownfields Financing Headlines

Historic Military Building In New Orleans, LA Awarded $2M Brownfields Cleanup Grant
WGNO | Oct. 3 | Brownfield Financing | Community Development | Redevelopment

Connecticut Towns Turn to Old Mills to Create More Housing,
CT Mirror | Oct. 3 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Wilmington, DE Uses Brownfield Cleanup to Improve Flood Resiliency
The News Journal | Oct. 2 | Brownfield Financing | Food Systems Finance | Redevelopment

Elizabeth, NJ Mayor Testifies Before Congress on Impact of Investment in Brownfield Sites
National League of Cities | Oct. 2 | Brownfield Financing | Community Development | Federal | Redevelopment

Middleburg Heights, OH Seeks Brownfield Grant for Former Sears Buildings
Cleveland.com | Sep. 29 | Brownfield Financing | Community Development | Redevelopment

U.S. Senate Committee Advances Brownfields Reauthorization
U.S. Senate Committee on Environmental & Public Works | Sep. 27 | Brownfield Financing | Community Development | Redevelopment

Michigan Developers Find New Uses for Contaminated Industrial Sites
Bridge Michigan | Sep. 25 | Brownfield Financing | Economic Development | Redevelopment | Tax Increment Finance (TIF)

Keokuk, IA, Aims to Revitalize Old Elkem-Carbide Site
U.S. EPA | Sep. 22 | Brownfield Financing | Community Development | Economic Development | Redevelopment

Highland County, OH Land Bank Board Selects More Properties for Demolition, Cleanup
The Highland County Press | Sep. 22 | Brownfield Financing | Redevelopment | Rural Development

Wilmington, DE Finishing Brownfield Assessments in Third District
Delaware Public Media | Sep. 22 | Brownfield Financing | Redevelopment | Urban Development

Jefferson County, OH Port Authority Discusses Grants for Environmental Cleanup
WTOV-TV | Sep. 20 | Brownfield Financing | Economic Development | Redevelopment

Federal Funding to Clean up Kentucky Brownfields Touted as Transformative
The Paducah Sun | Sep. 19 | Brownfield Financing | Economic Development | Redevelopment

A High School, Marina, and More: Michigan Brownfields Split $16.3M
MLive | Sep. 13 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Brownfield Opportunity Area Tax Credits Available in the City of Lackawanna, NY
Buffalo Business First | Sep. 8 | Brownfield Financing | Redevelopment | Tax Credits


Highlights from the Online Resource Database

DevelopOhio Economic Incentives Toolkit - An Effective Economic Development Toolkit for Growth and Job Creation
Bond Finance | Brownfield Financing | Economic Development | Energy Finance | Historic Preservation | Infrastructure Finance | Opportunity Zones | Redevelopment | Rural Development | Tax Credits
This guide from Bricker Graydon outlines the array of tools with which Ohio economic development practitioners can intervene to stimulate or induce development to occur — or occur sooner than market forces sometimes allow — in their communities. This guide also assists practitioners by identifying programs, clarifying changes to existing programs, and introducing effective new options to consider. If knowledge is power, this guide provides practitioners with the unique ability to empower their communities or businesses to accomplish a variety of economic development objectives.


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
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • 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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