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CDFA Brownfields Finance Update - February 7, 2023

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Brownfields Financing Update
February 7, 2023
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Brownfields Finance Update


Coming Up Next Month: CDFA's Intro and Advanced Bond Finance Courses!
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance Course will take place on March 13-14 followed by the Advanced Bond Finance Course on March 15-16. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

Arizona Tribe Receives Funding to Address Contaminated Environmental Sites
The San Carlos Apache Tribe is set to receive more than $166,000 in funding to help address contaminated brownfield sites that threaten the environmental and public health of the tribe. The funding comes from the Infrastructure Investment and Jobs law passed in 2021, and was inserted into the legislation by Arizona Sens. Kyrsten Sinema and Mark Kelly.

Work Begins on Brownfield Site in Morganton, NC
A swath of land in Morganton, North Carolina, that was previously used as a furniture factory in the early 20th century will be reimagined as a campus for innovation and manufacturing, a move that stands to bring much-needed redevelopment and economic opportunities to a region with a robust industrial past.

Cleanup Plan for Brewery Brownfields Site Completed in Jamestown, NY
The cleanup action plan for the brownfield site was part of New York's Brownfield Cleanup Program due to contamination levels of the Jamestown Brewery property. Cleanup of the property was executed by GPatti Enterprises, LCC. Oversight for the project was provided by the New York State Department of Environmental Conservation.

Buried Beneath: The Fight to Clean Up Toxic Brownfields in the Bronx, NY
Sites polluted with substances the state identified as harmful and in some cases, cancer-causing, are patchworked across the Bronx. There are 53 such locations that the New York State Department of Environmental Conservation (DEC) has identified as posing a risk to humans and that are classified as under an "active" remediation plan.

More Details Emerge for $1.5B District Detroit, MI Buildout and Incentives
A fuller picture is emerging of the proposed $1.5 billion buildout of District Detroit. Developers are planning 10 new buildings or rehabs and are requesting about $800 million in development incentives. The project's biggest subsidy request, a $616 million state-level tax capture over 35 years, known as a Transformational Brownfield, had its first hearing before the Detroit Brownfield Redevelopment Authority.

Sen. Schumer Announces Brownfield Cleanup Plan at Waterloo, NY Site
U.S. Sen. Chuck Schumer announced a two-pronged plan to clean up contamination of a brownfield site, the now-cleared site of the former George's Service Center, and others in the Finger Lakes, so they can be redeveloped. The plan includes $1.5 billion in grants in the Bipartisan Infrastructure Investment and Jobs Act of 2022 to help the county's inaugural brownfield redevelopment strategy.

Contaminated Brookfield, CT Property Gets $1.2M State Grant for Remediation
Remediation work planned for a contaminated property at 20 Station Road got a boost with the announcement of a state grant issued by the Connecticut Department of Economic and Community Development. The Brookfield grant will support work to remove contaminated soil and to abate and demolish a former dry cleaning business to enable the construction of a three-story affordable mixed-income apartment building.

Upcoming Events
Intro Bond Finance Course

SSBCI Learning Series - Compliance: Program Reporting Requirements
February 16, 2023 - 2:00 PM - 4:00 PM Eastern
During the 2023 SSBCI Learning Series, CDFA will elevate conversations and host sessions geared toward successfully implementing new SSBCI programs and financial products, reaching targeted small businesses and business sectors, and effective program reporting and compliance strategies.

CDFA // BNY Mellon Development Finance Webcast Series: P3 Financing Approaches for Broadband Infrastructure
Tuesday, February 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, experts will highlight the resources available for financing broadband, discuss navigating the use of P3 for broadband, and share first-hand knowledge of their successes utilizing P3 financing for broadband projects.

Brownfields Financing Headlines

How Ohio Programs Work Together to Make Development Happen
Columbus Business First | Feb. 6 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

$3M Brownfields Site Project Coming to Honor, MI
Traverse City Record Eagle | Feb. 5 | Brownfield Financing | Community Development | Redevelopment | State Finance Program

Ann Arbor, MI's Long-Anticipated Riverfront Redevelopment Breaks Ground
MLive | Jan. 31 | Brownfield Financing | Community Development | Redevelopment

City of Tallahassee, FL Hoping to Redevelop Brownfields in the Southside Community
WTXL-TV | Jan. 31 | Brownfield Financing | Community Development | Redevelopment

Site of Former Warren, OH Plant to Face Cleanup Thanks to $1M in State Grants
WKBN-TV | Jan. 31 | Brownfield Financing | Economic Development | Redevelopment

Land Bank Board Accepts Bid for Cleanup of Former Rocky Fork, OH Truck Stop Site
The Highland County Press | Jan. 30 | Brownfield Financing | Economic Development | Redevelopment

EPA Awards $500K to Walker County, GA for Brownfields Issues
Local 3 News | Jan. 25 | Brownfield Financing | Community Development | Redevelopment

Development in Lansing, MI That Could Reshape Downtown Gets $2M in State Aid
Lansing State Journal | Jan. 24 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment | State Finance Program

Beatrice, NE City Council Identifies Priority Areas
Beatrice Daily Sun | Jan. 24 | Brownfield Financing | Community Development | Redevelopment

Rochester, NY Receives $500K Federal Grant for Brownfields Job Training Program
City of Rochester | Jan. 23 | Brownfield Financing | Redevelopment | State Finance Program | Urban Development

Developer Shares Plans for Affordable Housing Project at West Hartford, CT Inn Site
West Hartford News | Jan. 19 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment | State Finance Program

Rising Costs on John Kam Malt Project Drive Request for Tax Breaks in Erie County, NY
The Buffalo News | Jan. 10 | Brownfield Financing | Community Development | Economic Development | Historic Preservation | Redevelopment | Tax Credits

Monroe County, OH Land Bank Secures More Than $9M in Funding
The Times Leader | Jan. 6 | Brownfield Financing | Community Development | Redevelopment

EGLE Awards $5.8M to Clean Up Four Detroit, MI Sites for Redevelopment
The Detroit News | Jan. 5 | Brownfield Financing | Community Development | Healthcare | Housing Finance | Tax Increment Finance (TIF)

Village of Herkimer, NY Plan to Revitalize Main Street Through State Brownfield Program
WKTV | Jan. 3 | Brownfield Financing | Community Development | Economic Development | State Finance Program

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.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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