CDFA developed the COVID-19 Resource Center to serve as a central hub of everything the development finance world is doing to mitigate the impacts of COVID-19. CDFA's Weekly Development Finance COVID-19 Briefings will highlight these mitigation and recovery efforts.

Having already undergone $47 million of cleanup work to bring the Magnolia site up to federal standards for industrial development. Another $30 million is being spent by the latest owner, Highland Resources, to make it suitable for residential development.

In response to the COVID-19 pandemic, the Kapszukiewicz administration will grant a six-month deferral on principal and interest payments on all Enterprise Development Loans and Brownfield Revolving Loan Fund loans issued by the city of Toledo.

The Small Business Liability Relief and Brownfields Revitalization Act authorizes the EPA to make additional funds available in any year based on the demand for the funding. Due to high demand, the EPA announced that it is offering an additional $5,000,000 to recipients of its Brownfield revolving loan fund agreements in fiscal year 2020.

New Jersey communities grappling to bring damaged properties to productive reuse will now be able to turn to New Jersey Institute of Technology experts for advice, as the university recently launched NJ Brownfields Assistance Center. The New Jersey Economic Development Authority provided NJIT with the funding to establish the center.

The EPA is extending by two weeks, to April 22, its deadline for Brownfields Revolving Loan Fund applications due to the coronavirus. The EPA made an additional $5 million available in March.

The EPA listed the cleanup of contaminated properties and their return to productive economic and community use as one of its top three priorities. Among its goals, the Agency stated that it wants to make 255 additional Superfund sites and 3,420 additional brownfield sites ready for anticipated use by September 2022.

The council hosted a public hearing to approve a Brownfield tax incentive for the former Midland Daily News building located in downtown Midland, which was purchased by Shaheen Development in 2017.  To help cover the cost of the environmental remediation costs, Shaheen applied to the city for a $2.9 million Brownfield tax incentive, which would capture the new taxable value of the property once developed, and reimburse Shaheen up to that amount.

CDFA-ARI Rural Finance Webinar Series: COVID-19 Response Resources for Local Leaders
Wednesday, April 15, 2020 - 1:00 PM - 2:30 PM Central

CDFA Food Systems Finance Webinar Series: Disaster Recovery for the Food System
Thursday, April 16, 2020 - 2:00 PM Eastern

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