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CDFA Brownfields Finance Update - November 3, 2020

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Brownfields Financing Update
November 3, 2020
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Brownfields Finance Update

Features

Nuclear Closure Communities Technical Assistance Program
Smart Growth America has partnered with the Nuclear Decommissioning Collaborative, the Center for Creative Land Recycling, and the NADO Research Foundation to provide guidance and analysis, offer a set of tools, and build a supportive community of practice to better position the municipalities and regions bracing for this dislocation.

Iowa Economic Development Authority Approves up to $2.6M in Tax Credits for Brownfield Developments
The Iowa Economic Development Authority approved up to $2.6 million in brownfield and grayfield tax credits for projects in Cedar Rapids at its monthly board meeting.

Howard Hughes Unveils Twin Tower Plan for 250 Water Street
The Howard Hughes Corp. has unveiled its plan to redevelop an old glue factory site in the South Street Seaport as a 470 ft. twin tower apartment complex. The developer said the $1.4 billion development at 250 Water Street will include 100 affordable apartments and renovations to the Seaport Museum that will help keep it "financially secure" for decades to come.

EPA Official to Visit Brownfield Sites in Oneida and Herkimer, NY
In communities across New York and the nation, EPA is working with local and state governments to pave the way for an effective reuse of properties that have been impacted by contamination. Through its Brownfields program, EPA has leveraged over $33 billion and created more than 170,000 jobs nationwide.

Robrecht Riverfront Park Moving Toward Reality in Wheeling, WV
Wheeling City Manager Robert Herron said the city also submitted a grant application to the state for additional federal funding through the U.S. Environmental Protection Agency Brownfield Cleanup Grant Program. The city is requesting an additional $359,000 through this grant program.

Lorain County, OH Applying for $500K EPA Brownfield Cleanup Grant
Lorain County will be applying for a $500,000 grant from the U.S. Environmental Protection Agency. The Brownfield Cleanup Grant would aim to decontaminate about 2,100 cubic yards of land on the former location of E&L Transportation Co., 7450 Terminal Drive in Lorain.

Woodbridge Neighborhood Apartments Billed as First Step for New Gallery District
The Detroit Economic Growth Corp. helped the developers with obtaining vacant land for the project and to get the financial resources needed for the project. This included obtaining a $1.25 million low-interest loan and leveraging the Detroit Brownfield Redevelopment Authority for $360,000 in tax increment financing reimbursement.

Ludington, MI Seeks Brownfield Amendment for Lofts on Rowe Project
The brownfield amendment includes the addition of interest reimbursement to help offset the burden of this change in the project. Overall, this extends the plan by four years, but makes all the difference to the project being able to move forward.

Upcoming Events
CDFA Virtual National Summit: Financing Our COVID Recovery

CDFA // BNY Mellon Development Finance Webcast Series: Financing Resilient Infrastructure
Tuesday, November 17, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will analyze how to finance the built environment to mitigate disaster and protect human life.

CDFA // BNY Mellon Development Finance Webcast Series: Educational Facilities Funding Solutions
Tuesday, December 15, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore how a myriad of development finance tools are being implemented strategically to support modernization projects and new construction of education facilities.

Fundamentals of Economic Development Finance WebCourse
January 27-28, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Fundamentals WebCourse is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

Alluvion Health Hosts Virtual Public Meeting to Discuss Rocky Mountain Building EPA Cleanup Project
KHQ 6 | Nov. 3 | Brownfield Financing

Former Second Street Gas Station Is Torn Down
Local News Digital | Nov. 3 | Brownfield Financing

JLL Capital Markets Handles $110.825M Sale
NYREJ | Nov. 3 | Brownfield Financing

MN Cities to Re-Enroll in Housing Incentive Program
Sun Current | Nov. 3 | Brownfield Financing

Newbury Market Real Estate in South Fayette, PA Sold at Sheriff Sale for $8.5M
Pittsburgh Post-Gazette | Nov. 3 | Brownfield Financing

Holland, MI Oks Electric Vehicle, Housing Incentive Policies
Holland Sentinel | Nov. 2 | Brownfield Financing | Tax Increment Finance (TIF)

Crystal Township Board Hears Brownfield Request for Dollar General Store
Daily News | Nov. 2 | Brownfield Financing | Tax Increment Finance (TIF)

Historic Grain Elevator Site Slated for Redevelopment, Brownfield Cleanup
The Oakland Press | Oct. 23 | Brownfield Financing

Peabody Brownfield Cleanup Is Key to Riverwalk
Item Live | Oct. 20 | Brownfield Financing

Brownfield Grant Encouraging for Development on West Side
Laramie Boomerang | Oct. 17 | Brownfield Financing

Martinsburg, WV Shares Plans to Form Economic and Community Development Task Force
Journal News | Oct. 15 | Brownfield Financing

Half of the Former Bethlehem Steel Site to Undergo a Comprehensive Cleanup
WKBW Buffalo | Oct. 13 | Brownfield Financing

Plainfield Twp. Seeks to Create Brownfield Authority to Redevelop Distressed Properties
MiBiz | Oct. 13 | Brownfield Financing

North Port Commission to Discuss Brownfield Application for Central Parc
Herald Tribune | Oct. 12 | Brownfield Financing

Timeline of Amazon's Interest in Erie County, NY
Buffalo News | Oct. 11 | Brownfield Financing



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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CDFA National Sponsors

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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