The solar project at the Mitchell-Bentley site in Cadillac triggered $1 million in state grants and loans through Michigan's brownfield redevelopment program. The city will pay off the loan portion through increased property tax revenue from future development on the site. Consumers Energy plans to spend $700,000 to build the solar project, which was matched by a $700,000 state cleanup grant.

The Tax Increment Financing Commission on endorsed millions of dollars in subsidies for two major developments. On the first project, it is seeking $14.1 million in TIF assistance, with about $1.4 million of that coming from a new sales tax district. The remainder of its financing would come from a $55 million loan and $22.5 million in equity. The second one received $3.8 million in TIF assistance for its 100-unit Hibernia project in Dogtown.

At the western edge of downtown, construction has officially begun on Detroit's latest luxury hotel. Financing was compiled from a variety of sources, including $6.8 million in energy-efficiency PACE loans—the largest so far supplied in the state—$8.4 million in Brownfield Tax credits, Opportunity Zone financing, loans from TCF Bank and Invest Detroit, as well as investor equity.

The U.S. Environmental Protection Agency (EPA) announced the selection of 26 organizations to receive a total of $5.1 million in grants for environmental job training programs across the country. These grants help to create a skilled workforce in communities where EPA brownfields assessment and cleanup activities are taking place.

After years of neglect, developers are once again giving their regards to more impoverished areas such as Broadway. One thing spurring interest is the availability of "relatively cheap properties" and vacant land, the availability of brownfield and historic tax credits, and the incentives and demand for affordable housing, as potential drivers.

A rapidly expanding dine-in movie theater chain based in Austin, Texas, will likely anchor a five-story commercial structure planned as part of the development called the Fifth in downtown Des Moines. The board is expected to approve a tax credit not to exceed $800,000 for the project. The tax credit would come from the state's Redevelopment Tax Credit Program.

The U.S. Environmental Protection Agency announced the filing of a consent decree with the four parties responsible for contamination at the Nuclear Metals Superfund site in Concord. Under the agreement, the United States, on behalf of the U.S. Army and U.S. Department of Energy, along with Textron Inc. and Whittaker Corporation, will address the cleanup of the site at an estimated cost of approximately $125 million.

GOPC partnered with environmental professionals, legal experts, and other redevelopment organizations to craft and promote a new brownfield regulatory bill that, so far, appears to be a textbook example of how proposed legislation in Ohio becomes law. House Bill 168 breezed through the Ohio House of Representatives on a unanimous vote. Advocates believe it will be approved by the Senate and signed by the Governor before the end of the year.

CDFA-Bricker PACE Webinar Series: New Construction PACE
November 18, 2019 - 11:00 AM - 1:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Unlocking Capital for Native American Communities
Tuesday, November 19, 2019 - 1:00 PM Eastern

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