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Brownfields Financing Update
June 6, 2017
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Brownfields Finance Update

Features

Grant Issued to Study Old Railroad Sites in Lafayette, LA
Acadiana Planning Commission is one of 172 entities across the country selected to receive funding for brownfield site revitalization efforts. These initial steps towards redeveloping vacant and unused properties help transform the sites to productive reuse.

Environmental Issues Surround $1B Watts Redevelopment Project in Los Angeles, CA
Amid growing environmental concerns, a groundbreaking ceremony was held Monday afternoon for the first phase of a $1 billion redevelopment of the Jordan Downs public housing project in Watts.

Exploring the Impact of the Port of Greater Cincinnati
Over the past 15 years, the Port Authority has been involved in transformative projects throughout Downtown and Over-the-Rhine. These projects have reshaped the skyline, revived historic structures for a new century, and created new regional anchors and cultural institutions.

CT's 'Bridge Bank' Finds its Stride Redeveloping Downtown Hartford
The former 26-story skyscraper has been transformed with $85 million in private and public capital into 285 nearly full high-rise living spaces, with a bustling coffee shop and a food market. 

Redevelopment Authority, Investors Working to Address Meadville's Blight
Meadville's RDA has invested $35K in several projects that address blight, in addition to the grants several low interest loans will be used to address high priority areas.

VT Senators Announce $700K in Brownfield Grants for Southern Vermont
Three southern Vermont organizations will share a total of $700,000 in Brownfields Program assessment and cleanup grants from the U.S. Environmental Protection Agency. 

AL's Revamped Historic Tax Credit Will Support Smaller Cities
Hunter and supporters of the tax credit are celebrating in the wake of Alabama Gov. Kay Ivey's approval of legislation last week that will reinstitute the state historic preservation tax credit program in 2018. The legislation also ends more than a year of sometimes bitter disputes and legislative tussles.

EPA Grant Helps The Kickapoo Tribe of OK Revitalize Brownfields
The U.S. Environmental Protection Agency (EPA) announced the Kickapoo Tribe of Oklahoma is one of 172 communities and tribes across the country selected to receive funding for brownfield site revitalization efforts. A total of approximately $56.8 million will fund selected recipients for brownfield site assessments and clean up. 

Mt. Pleasant, MI Approves New Brownfield Redevelopment Policy
Mt. Pleasant city commissioners have approved a new policy for Brownfield redevelopment projects in the city. The changes limit what types of expenses will be approved in the future as far as redevelopment of blighted or obsolete projects is concerned.

Heavy Hitters Form Group to Focus on Alabama Brownfields
A group of heavy hitters from Alabama's business world have teamed to form the Alabama Brownfields Association, which will provide education, advocacy and marketing in Alabama for brownfields.

MI Passes $1B Brownfield Tax Incentive Package
The Michigan Senate voted overwhelmingly in favor of a statewide tax incentive program that seeks to revitalize blighted areas through large private investment.  If signed into law as expected, they would authorize up to $1 billion in income, sales and use tax incentives.

Rental Project Near Vikings Stadium Still $8M Short
The proposal, known as East Town Apartments, has a funding shortfall of $8 million. It received only half of the $20 million in affordable housing bonding it requested from the state pool, which is administered by Minnesota's Management and Budget office and issued through Hennepin County.

Upcoming Events
CDFA Summer School

CDFA Brownfields Financing Webinar: Reviving Commercial Activity on Former Manufacturing Sites
June 15, 2017 - 2:00 - 3:30 PM Eastern
Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

Bronx Ice-Rink Project Finally Moves Forward
Crains | Jun. 5 | Brownfield Financing

City of Milwaukee, WI Lands Developer to Rescue Several Buildings
Urban Milwaukee | Jun. 5 | Brownfield Financing

EPA Awards $900K in Brownfield Grants to KY
The Lane Report | Jun. 1 | Brownfield Financing

MiThrive Development Package Heads to Governor
Holland Sentinel | May. 12 | Brownfield Financing | Tax Increment Finance (TIF)

MI Senate Sends Brownfield Bills to Governor's Desk
Detroit Free Press | May. 10 | Brownfield Financing


Highlights from the Online Resource Database

Longmont: Financing Brownfields Clean-Up and Build-Up
Brownfield Financing | Economic Development | Rural Development
The cleanup and redevelopment of brownfield sites can advance a region's economy, restore local environment, and ultimately lead to permanent job creation and greater attraction of external capital to the community. During this session, the city of Longmont will feature best practices for financing brownfields redevelopment and what they are doing to make specific sites productive again.


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


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