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CDFA Brownfields Finance Update - August 2, 2022

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Brownfields Financing Update
August 2, 2022
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Brownfields Finance Update

Features

Learn How to Help Your Community Beat the Heat with the Department of Energy
Join CDFA for the next installment of the Federal Financing Webinar Series: Funding Community Energy Needs with the U.S. Department of Energy on August 23. Learn about available funding for renewable energy and energy efficiency research, development, and implementation along with funding networks that provide weatherization services to low-income families.

Dept. of Commerce Invests $2.1M to Support Manufacturing Expansion in Okmulgee, OK
U.S. EDA announced a $2.1 million grant to the Okmulgee Area Development Corporation, Okmulgee, Oklahoma, for road, utility and drainage infrastructure needed to complete the Okmulgee Business Complex. This project will help redevelop a brownfield site to attract manufacturing businesses and create jobs for the region.

Blight Remediation and Affordable Housing Should Go Hand-In-Hand in Connecticut
Governor Lamont awarded approximately $17.9 million in state grants to remediate 40 blighted parcels in 13 towns through the Department of Economic and Community Development's Brownfield Remediation Program. The goal of this allotment is to reinvigorate public and private spaces, add to existing housing, mixed use and retail stock as well as increase the overall quality of life of residents in communities throughout Connecticut.

Floating Zone Proposals Aimed at Stimulating Industrial Uses in Stony Point, NY
Stony Point's eastern flank between the CSX Rail Line and the Hudson River is dotted with shuttered or barely operating industrial properties that remain under-utilized, fallow, and in most cases, on sites that are contaminated brownfields. The Town of Stony Point is considering a local law that would add a "floating zone," to its planning toolbox for brownfield sites that specifically lie between rail and water.

Bipartisan Michigan Budget Equips EGLE to Protect Public Health and the Environment
The Michigan Department of Environment, Great Lakes, and Energy (EGLE) is gearing up for a productive year following passage of a bipartisan state budget. The $75.5 billion budget includes $729 million for EGLE's general fund: a 31% increase over the current year.

Governor Hochul Announces Completion of $26M Housing Development in Oswego, NY
Harbor View Square Brings 75 Homes and Ground Floor Commercial Space to Former Manufacturing Site Development is Part of the City's Redevelopment Plan Funded by the State's $10 Million Downtown Revitalization Initiative Award. The development replaced an underutilized city-owned Brownfield site located at the convergence of the Oswego River and Lake Ontario.

$4M Investment Paves Way for New Industrial Uses in Rockford, IL
First Midwest Group has invested about $4 million into renovating a vacant Harrison Avenue industrial campus that had once helped put Rockford on the map as "screw capital of the world.". The city is providing "pay-as-you-go" tax increment financing for the project. It will reimburse a portion of the property taxes that would not have been generated without the investment.

City of Waterville, ME Awarded $500K Brownfield Assessment Grant From U.S. EPA
The city of Waterville is pleased to announce its successful application to the EPA's Brownfields grant program, a federal initiative that provides direct funding for brownfields assessment, supports future cleanup activities, technical assistance, and research.

Upcoming Events
CDFA Federal Financing Webinar Series: Funding Community Energy Needs with the Department of Energy

CDFA Infrastructure Finance Learning Series: Preparing for Federal Grant Applications
Tuesday, August 9, 2022 - 1:00 PM - 4:00 PM Eastern
Applying for federal grants is a competitive process that requires a significant amount of time and planning prior to submission. It is essential for applicants to know how to navigate the available funding sources and prepare the necessary information to apply well in advance. This session will provide guidance and best practices on the various components of a federal grant application.

CDFA-Bricker Webinar Series: Solar Projects
Thursday, August 11, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will provide an overview of tax abatements typically used by solar developers, with a focus on examples from the state of Ohio, and panelists will also discuss how abatements and payment-in-lieu-taxes agreements interplay with state permitting processes.

Brownfields Financing Headlines

Developers to Receive State Funding to Clean Up, Reuse Polluted Sites in Columbus, OH
WOSU | Jul. 7 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

Brownfield Site Transformed to Apartments in Historic Kalamazoo, MI Neighborhood
MLive | Jul. 29 | Access to Capital | Brownfield Financing | Economic Development | Housing Finance | Redevelopment

Lynchburg, VA EDA Selected to Receive $500K From EPA for Brownfield Redevelopment
News Advance | Jul. 27 | Brownfield Financing | Federal | Redevelopment | U.S. Environmental Protection Agency (EPA)

Ohio Commissioners Receive $500K for Blighted Properties
The Marietta Times | Jul. 11 | Brownfield Financing | Economic Development

Plans Moving Forward in Menominee, MI on Brownfield Redevelopment Plan
UPMatters.com | Jul. 28 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment | Tax Increment Finance (TIF)

Developer Continues to ‘Thrive' with Help of Brownfield Grants in Grandview, OH
Spectrum News 1 | Aug. 1 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment | State Finance Program

Marseilles, IL City Council Begins Brownfields Grant Application
WCSJ.com | Jul. 29 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

AMC Headquarters Redevelopment Gets $5.1M in Brownfield Aid in Detroit, MI
The Detroit News | Jul. 26 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment | Urban Development

Land Bank Receives Grant for Demolitions and Revitalization in Shelby County, OH
Sidney Daily News | Jul. 26 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Cleanup Complete at the Fifth Street Calumet Fire Site in Calumet, MI
U.S. EPA | Jul. 26 | Brownfield Financing | Community Development | Federal | Redevelopment

Plainville, CT Moving Ahead with Several Projects
The Bristol Press | Jul. 25 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Penn-Northwest Targets More Brownfields with EPA Grant in Hermitage, PA
Business Journal Daily | Jul. 23 | Access to Capital | Brownfield Financing | Economic Development | Federal | Redevelopment | U.S. Environmental Protection Agency (EPA)

Hartford, CT's Offering a Sneak Peek of an Expansive New Riverfront Park
Hartford Courant | Jul. 21 | Brownfield Financing | Economic Development | Redevelopment

Neogen to Expand Headquarters in Lansing, MI on Brownfield Site
Food Strategy | Jul. 21 | Access to Capital | Brownfield Financing | Redevelopment

Big Funds Allocated for SK Remediation Project in Defiance, OH
The Crescent News | Jul. 15 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Community Revitalization Projects Bringing New Options to Communities in Michigan
Governor Gretchen Whitmer | Jul. 7 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment



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

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  • U.S. Bank
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  • Z. The Bond Buyer
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