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CDFA Brownfields Finance Update - January 3, 2017

Brownfields Financing Update
January 3, 2017
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Brownfields Finance Update


Hoboken Finalizes $30M Purchase of Remediated Property
City of Hoboken Purchases 5.4 acres of remediated land from a Chemical Company to build the new Resiliency Park. The Park will be funded through a low-interest loan from the New Jersey Environmental Infrastructure Fund Program, which includes 19 percent principal forgiveness for the green infrastructure components.

The 2017 National Brownfields Training Conference
The National Brownfields Training Conference is the largest event in the nation focused on environmental revitalization and economic redevelopment. Held every two years, the National Brownfields Conference attracts nearly 3,000 stakeholders in brownfields redevelopment and cleanup to share knowledge about sustainable reuse and celebrate the EPA brownfields program's success.

PACE Funding Used in Redevelopment of Kansas City Building
Developers in Kansas City will use a $623,000 award in PACE (Property Assessed Clean Energy) to close the financing gap in converting a former Kansas City Star warehouse to apartments in the Crossroads Arts District.

OH Provides $14M to Clean Up Site for Cracker Plant
JobsOhiohas provided $14 million via a revitalization loan to help clean up a former power plant site in Belmont County for possible use as an ethane cracker plant.

Duluth, MN Creates Brownfield RLF
The city of Duluth has received a $650,000 Environmental Protection Agency (EPA) grant that will fund loans to remediate brownfield properties. Loans up to $200,000 per project will be available.

NC Brownfield Program Transforms Old Warehouse into Office Building
The Dillon, a 17-story office building, is being built within the walls of an old Dillon Supply Co. warehouse in downtown Raleigh. The project was made possible by a brownfields agreement with the state of North Carolina.

Columbia Heights Library Honored with Brownfield Award
The new $10M Columbia Heights library won the small city impact award for the construction of a vibrant 22,600-square-foot building that replaced a decrepit facility and a vacant, contaminated site once home to a Burger King.

Weymouth and Union Point Tenant Reach Deal on Tax Breaks
Waymouth, MA uses Tax Increment Financing for the first time to redevelop the former South Weymouth Naval Air Station for a Dutch robotics company Prodrive Technologies.

Upcoming Events

CDFA Online Brownfields Project Marketplace
February 23, 2016 - 12:00-5:00 pm Eastern
CDFA is excited to offer the Brownfields Project Marketplace as an opportunity for communities to receive free technical assistance related to the redevelopment and financing of brownfield projects. Join us online on February 23, to consult with financing professionals and brownfield project experts who can help identify potential resources for your brownfield project.

CDFA Brownfields Technical Assistance Program

Brownfields Financing Headlines

Landfills as Solar Farms? Cuyahoga County Identifying Sites for Just That Purpose
Cleveland | Jan. 3 | Brownfield Financing

North Carolina Brownfields Celebrates 400th Agreement with a Prospective Developer
North Carolina News Network | Jan. 3 | Brownfield Financing

$78K Historic Tax Credit Awarded to New Brighton Building
The Times | Dec. 30 | Brownfield Financing | Historic Preservation | Tax Credits

State of MI Joins Ford in Dearborn Redevelopment
Detroit Free Press | Dec. 21 | Brownfield Financing | Redevelopment | Urban Development

New Jersey Extends it Solar For All Program
PV Magazine | Dec. 20 | Brownfield Financing

Rhode Island DEM Awards $1.3M to Redevelop Brownfields
Eco RI News | Dec. 16 | Brownfield Financing

$53M in Grants to Fund 12 Waterfront Projects Across North Jersey
NJ.com | Dec. 14 | Brownfield Financing | Economic Development | Incentives

Lansing City Council Approves Plans for East Lansing Costco
State News | Dec. 13 | Brownfield Financing | Infrastructure Finance | Tax Increment Finance (TIF)

$2M Made Available for NY Brownfield Development
Observer-Dispatch | Dec. 13 | Brownfield Financing

Tax Abatement for St. Louis Hotel Redevelopment Advances
St. Louis Post-Dispatch | Dec. 7 | Brownfield Financing | Tax Credits

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

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