The U.S. Environmental Protection Agency is announcing over $65.6 million in EPA brownfields funding through the agency's Assessment, Revolving Loan Fund, and Cleanup Grant Programs. Under President Trump's leadership, EPA has delivered approximately $287 million in Brownfield grants directly to communities and nonprofits for cleanup and redevelopment, job creation, and economic development.

The Michigan Strategic Fund has approved a brownfield redevelopment tax increment financing plan for the $256 million Red Cedar mixed-use development. The project, being built by Continental/Ferguson Lansing LLC, will include multi-generational housing, restaurants, retail, and two hotels along the Michigan Avenue corridor connecting Lansing with the region.

Brownfield clean-up will soon be underway at the former Montpelier Granite Works site. This clean-up is made possible by the revolving loan funds of the Agency of Commerce & Community Development and the Northwest Regional Planning Commission. Each is contributing $200,000 in clean-up funding towards the $500,000 total remediation cost.

Kansas City has received an $800K EPA grant to clean up brownfields in Opportunity Zones. This will help us create new jobs and economic opportunities in struggling communities across the City. The city grant was paired with a $600K regional grant awarded to the Mid-America Regional Council for the investigation of other local brownfield sites.

City Manager Sharon Subadan said the art museum would utilize a $350,000 Brownfield grant to clean up heavy metals, contaminants, and petroleum at the site of the former Belk Building on West Broad Avenue, while the city will utilize an $800,000 revolving loan to provide loans and grants to nonprofits involved in cleaning up and repurposing properties in underserved areas of the city.

The New Jersey Economic Development Authority (NJEDA) will receive an $800,000 U.S. Environmental Protection Agency Revolving Loan Fund Brownfields grant. The NJEDA can use this funding to capitalize a revolving loan fund or to provide sub-award grants to communities, developers, and nonprofits carrying out cleanup and redevelopment activities at brownfield sites.

Through the Brownfields Communitywide Assessment Coalition Grant for $600,000, the city of Phoenix will lead a collaborative effort with the cities of Avondale and Tempe, and Arizona State University to assess, in each city, the area within one mile on either side of the 45-mile stretch of the Salt River, Agua Fria and Gila rivers for potential brownfield properties.

Planning documents filed with the city put the project's total investment at $15.6 million. The project is seeking a Brownfield tax-increment financing plan worth $2.7 million, which would reimburse Archer and his development partners over 17 years from future tax revenue generated by the store.

CDFA-PFM Capital Markets Webinar Series: Impacts of COVID-19 on the Bond Market
Thursday, June 4, 2020 - 3:00 - 4:30 PM Eastern

CDFA Federal Financing Webinar Series: Federal Recovery Resources from HUD
Friday, June 5, 2020 - 1:00 - 3:00 PM Eastern

CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program
Tuesday, June 9, 2020 - 11:00 AM - 1:00 PM Eastern

CDFA-ARI Rural Finance Webinar Series: Building the Road to Recovery
Wednesday, June 10, 2020 - 1:00 PM - 2:30 PM Central

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This document provides an overview of information on Internal Revenue Service (IRS) regulations with respect to brownfields investment in Opportunity Zones. Learn more about how Opportunity Zones can help local governments meet goals for sustainable and equitable development.

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