Advance Your Knowledge of Revolving Loan Funds at CDFA Virtual Summer School
The Advanced Revolving Loan Fund Course builds on CDFA's Intro RLF Course by providing in-depth instruction on loan underwriting and portfolio management. Register now for this August 9-10 training course to sharpen your skills in analyzing borrower documents, performing financial analysis, and making loan decisions based on the mission and lending criteria of your RLF.
Renew the Federal Brownfield Tax Deduction
Before it expired, the federal Brownfield Tax Incentive allowed a party who voluntarily investigated and remediated contaminated property to deduct its cleanup costs in the year incurred on their federal income tax return. Expensing remediation costs and spreading out the deduction over ten years was a powerful incentive for private investment in the economic revitalization of brownfields.
Developer Investing $17M to Transform Old Pontiac School Into Community Center in Oakland County, MI
Oakland County has applied for a $399,000 state brownfield grant to help clean up a former Pontiac school building that's being redeveloped into a community center serving unserved Pontiac residents. The Webster Community Center Redevelopment Project is a $17 million capital investment that will convert the former school building into a facility to provide social services and recreational opportunities for unserved populations living in Pontiac.
EPA Announces $2.16M in Supplemental Funds to Clean Up and Revitalize Brownfield Sites in Maine
The U.S. Environmental Protection Agency (EPA) announced $2,160,000 in supplemental funding for five current successful Brownfields Revolving Loan Fund grantees in Maine. The Maine recipients are among nine groups in New England selected to receive a total of $3.35 million.
The Wesmont Brings Workforce Housing and Brownfield Cleanup to Indianapolis' Near Eastside
The Woodforest CEI-Boulos Opportunity Fund, a high-impact commercial real estate Opportunity Zone fund, announced its $3 million equity investment in The Wesmont in Indianapolis' Near Eastside neighborhood. The new property, built on a four-acre remediated industrial brownfield site, consists of 188 new workforce apartments, 170 of which are affordable to people with low incomes.
EPA Awards $300K Brownfields Assessment Grant to Tuskegee, Alabama
The U.S. Environmental Protection Agency (EPA) awarded the City of Tuskegee, Alabama, a $300,000 Brownfields Assessment Grant. The grant funds will be used to develop seven cleanup plans and conduct community engagement activities. The target area is the entire City of Tuskegee. Priority sites include a former oil distribution center, former hotel, and former gas station.
Plans Unveiled for Mixed-Use Building in West Hartford, CT
A mixed-use, mixed-income residential and retail development under construction in West Hartford is replacing a previously existing vacant warehouse, remediating a brownfield site and repurposing it for housing that will energize the neighborhood. Officials said the project is being financed with federal Low Income Housing Tax Credits from the Connecticut Finance Housing Authority and additional subordinate financing from the Connecticut Department of Housing.
Apartments, New Restaurant Part of Renovation Plans at Historic Building in Downtown Kalamazoo, MI
A historic building in downtown Kalamazoo will soon undergo renovations to make way for 11 apartments above the city's oldest restaurant. The renovation is a collaboration between the Brownfield Redevelopment Authority, Kalamazoo Downtown Partnership, and Downtown Economic Growth Authority.
EPA Selects Hennepin County, MN to Receive $500K Brownfields Grant
U.S. Environmental Protection Agency announced that Hennepin County will receive $500,000 to supplement the county's Brownfield Revolving Loan Fund. This grant will help remediate environmental contamination at abandoned industrial and commercial properties that have been targeted for redevelopment.
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