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CDFA Brownfields Finance Update - August 7, 2018

Brownfields Financing Update
August 7, 2018
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Brownfields Finance Update


From Contaminated To Downtown Atlanta's Biggest Housing Development In Generations
The Whitehall site needs $20M in cleanup work, Batiste said, including removing the upper layers of soil on the property. The projected $122M mixed-use project will include 512 apartments over a 600-space parking deck with another 25K SF of commercial space.

CDFA to Host Webinar on EPA Financing
On August 16 CDFA will host the fourth installment of its Federal Financing Webinar Series, with a focus on the EPA. In the webinar EPA financing experts will give a thorough overview of the financing options the EPA provides to support brownfields redevelopment and the development of water infrastructure. Register today!

Benefits of Brownfield Redevelopment in Minnesota
This report by Minnesota Brownfields and the Minnesota Pollution Control Agency highlights how redevelopment of idled, contaminated commercial and industrial properties can enable economic growth and community revitalization, while improving the environment for all Minnesotans.

Gilbert Lands $8M in Brownfield Financing for Free Press Building Project
Dan Gilbert's real estate company is receiving nearly $8M in state brownfield incentives to redevelop the former Detroit Free Press headquarters building on West Lafayette Boulevard. The Michigan Strategic Fund board green-lit the incentive for the $78.9M mixed-use project Tuesday.

EPA Highlights Brownfields Program in NH
A visit from the EPA highlights the latest of three additions to the agency's Brownfields program. The result of the latest three grants, totaling $700,000, may be a new commercial tract in Somersworth, a large solar array in Winchester, a commercial property in Hinsdale and resources to help Main Street revitalization efforts in North Country communities.

FL's Polluted Land Could Provide Boon for Development
The Florida Brownfields Redevelopment Act is enticing developers with opportunities for six-figure tax credit potential on qualified brownfield redevelopment projects.

Flint, MI Brownfield Site Will be New Home of Hilton Hotel Project
The $36.5M dollar project will renovate one building, and demolish two to make room for Buckham Square. The project's brownfield plan includes $2.5M of reimbursable fees. The OPRA approval has frozen the project's tax bill at $25,000 for the next 14 years. After that, it's estimated to generate $530,000 in tax revenue for the city.

California to Host Land Recycling Conference 2018 on October 24-25
This two-day statewide event will bring together public and private leaders from throughout California's redevelopment industry. This first-of-its-kind gathering will engage regulators and highlight tools and funding sources to advance land reuse. Join us as California continues to address brownfield redevelopment in a brave new world post-Redevelopment Agencies.

CCLR Workshops in Sayreville and Camden, NJ focus on Land Reuse
This workshop will provide answers to your questions on legal liability, regulatory issues, funding resources, assessment/remediation, and community engagement to turbo charge your redevelopment efforts. Hear from public and private-sector experts and meet with them one-on-one to learn about steps to initiate or accelerate the redevelopment of distressed sites for community revitalization.

Upcoming Events
Intro Brownfields Finance WebCourse

CDFA Federal Financing Webinar Series: U.S. Environmental Protection Agency (EPA)
August 16, 2018 - 2:00 PM Eastern
Experts on EPA financing programs will give a thorough overview of the financing options the EPA provides to support brownfields redevelopment and the development of water infrastructure. CDFA will place a specific emphasis on the various EPA Brownfields Grant Programs, including Brownfields Assessment Grants, Brownfields Revolving Loan Fund Grants, and Brownfields Cleanup Grants, as well as the financing offered through the Water Infrastructure Finance And Innovation Act (WIFIA).

CDFA Brownfields Financing Webinar Series:The Developer's Perspective in Financing Brownfield Projects
September 6, 2018 - 2:00 - 3:30 PM Eastern
Developers contribute important resources to projects, including private capital and risk management. However, because brownfields projects are very complex, the developer will often request support from the public sector to see a project to completion. During this webinar, we discuss the developer's perspective in the deal, including how they assemble their capital stack and negotiate with the public sector to maximize investment in the site and surrounding area. Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how to negotiate with developers and involve them in a broader brownfields strategy.

CDFA Brownfields Technical Assistance Program

CDFA Provides Financing Strategies for Mixed-Use Waterfront Project in Duluth
The Council of Development Finance Agencies (CDFA) is pleased to release the Roadmap to Redevelopment report prepared for the City of Duluth following a Brownfield Project Response Team site visit in May of this year. The report provides financing strategies for the waterfront property known as Lot D.

CDFA to Host Brownfield Project Marketplace at Opportunity Zone Event in DC on Sept 6
CDFA will hold a Brownfields Project Marketplace in Washington DC in conjunction with the event: Opportunity Zones: Maximizing Impact in Your Community. Learn how Opportunity Funds and other financing tools can be used to support brownfield redevelopment.

Brownfields Financing Headlines

DEQ Awards Chippewa County EDC BRownfield Grant fo forer Kincheloe Air Force Bace
MI News 26 | Aug. 3 | Brownfield Financing

Cleanup Begins at Former Meriden-Wallingford Hospital
RJ Media Group | Jul. 31 | Brownfield Financing

Brownfields Plan Could Revive Elements of Scrapped Flushing Rezoning Scheme
City Limits | Jul. 25 | Brownfield Financing

Racine to Use DNR Brownfield Assessment Funds to Aid Uptown Redevelopment
DNR | Jul. 24 | Brownfield Financing

Bloomfield Wants to Borrow $13.3M to Convert 18.2 Acres into a Park
NorthJersey | Jul. 23 | Brownfield Financing

Greenwood, SC Mill Cleanup Supported by RLF, EPA, CDBG
Index-Journal | Jul. 22 | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Dept. of Housing & Urban Development (HUD) | U.S. Environmental Protection Agency (EPA)

North Peak Brewery has Even Bigger Plans for Bay City Location
Bay City News | Jul. 20 | Brownfield Financing

Funding Announced for Cleanup of Former Allison Hill Automotive Site
PA DCED | Jul. 19 | Brownfield Financing

MHIC Finances Adaptive Reuse of Vacant School
Affordable Housing Finance | Jul. 19 | Brownfield Financing | Historic Preservation | Tax Credits

$52M Apartment Complex Planned on Brownfield in Lansing, MI
Lansing State Journal | Jul. 16 | Brownfield Financing

DEED Awards $6.28M for Contamination Cleanup Projects
MN DEED | Jul. 9 | Brownfield Financing

ME Settles on $200M Borrowing Package to Send to Voters
Bangor Daily News | Jul. 9 | Bond Finance | Brownfield Financing | Infrastructure Finance | Water Finance

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

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