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CDFA Brownfields Finance Update - March 7, 2023

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Brownfields Financing Update
March 7, 2023
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Brownfields Finance Update


Coming Up Next Week: 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.

Tenessee Brownfield Bill Funnels Millions into Polluted Properties
Tennessee legislative committees are moving forward a bill that would give money to communities that want to clean up abandoned and polluted properties, but not all counties will have the same opportunity to obtain funding from the emerging Brownfield Redevelopment Area Fund and Grant Program.

Working for a Better Environment in New Jersey
New Jersey is beautiful beaches and verdant woodlands. It's also abandoned factories and faded brownfields. At the helm of New Jersey brownfields renewal work is DEP's Contaminated Site Remediation & Redevelopment (CSRR) program. Formerly the Site Remediation and Waste Management Program, CSRR is responsible for reducing the number of contaminated sites in the state and readying the spaces for reuse.

Why Aren't More Solar Farms Built on Municipal Landfills?
Local opposition has blocked towns from building utility-scale solar installations. But there is an unexpected and newly incentivized alternative — thanks to the Inflation Reduction Act — the dump. Closed landfills are unavailable for traditional redevelopment and are often owned by local governments. That makes it an attractive alternative amid increasing neighborhood opposition against solar developments.

City of Texarkana, TX Awarded EPA Loan in the Amount of $1M
The City of Texarkana, TX has been awarded an EPA Brownfields Revolving Loan Fund in the amount of $1 million. Since 2010 the City has been awarded a total of $4 million in various Brownfields Grants plus a Council of Development Finance Agencies (CDFA) Technical Assistance Grant.

Officials in Mohawk Valley, NY Tout Area's Economic Progres
One brownfield site is the Duofold property in the village of Ilion, which recently received $2 million in Restore NY funding to redevelop the site into a mixed-use area with 81 residences. Piseck said another brownfield site is the EDF Renewables Warrior solar project, which is located between Frankfort and Utica on Route 5. He said the site used to be a landfill, but it will soon become a 7.5 megawatt solar energy generation system.

Southern New England's Contaminated Landscape Costs Plenty to Clean Up
Region's three states (Connecticut, Massachusetts, and Rhode Island) work to redevelop a District of Columbia-sized heap of contaminated brownfields. Some of the brownfields remediated in the three states now host schools, affordable housing, senior centers, and assisted-living facilities.

Cleveland, OH Approves $3.5M to Clean Up Former Industrial Sites on Opportunity Corridor
Cleveland City Council has approved spending $3.5 million in COVID-19 stimulus money cleaning up former industrial sites along Opportunity Corridor. The city is hoping the money will rehabilitate two or three brownfield sites that span at least 10 acres throughout Opportunity Corridor.

Upcoming Events
Intro Bond Finance Course

CDFA Tribal Finance Webinar Series: Tribal Community-Driven Economic Development Solutions
March 14, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss how tribal governments and their partner organizations are working collaboratively to drive sustainable economic development.

CDFA // BNY Mellon Development Finance Webcast Series: Exploring 501c3 Bond Finance for Nonprofit Organizations
March 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, speakers will break down 501(c)3 bond finance to demonstrate how this tool can drive investment for nonprofits.

Brownfields Financing Headlines

Brownfield Board OKs $616M in Reimbursements for $1.5B District Detroit, MI Project
The Detroit News | Mar. 8 | Brownfield Financing | Community Development | Economic Development | Housing Finance | Redevelopment

Cleanup of Inactive Landfill Site in Hornellsville, NY
The Evening Tribune | Mar. 6 | Brownfield Financing | Redevelopment | State Finance Program

Plans to Convert Oswego, NY Brownfield Site into Solar Project
Benzinga | Mar. 6 | Brownfield Financing | Energy Finance | Green Finance | Redevelopment | State Finance Program

Muskegon, MI's Adelaide Pointe Revitalization Granted $14M From Strategic Fund
WZZM-13 | Mar. 6 | Brownfield Financing | Redevelopment | State Finance Program

ESG Goals Increasingly Drive Brownfield Redevelopment in California
Los Angeles Business Journal | Mar. 3 | Brownfield Financing | Economic Development | Redevelopment

Harrison Place Building 3 Cleanup Plan Aired in Lockport, IL
Lockport Union-Sun & Journal | Mar. 1 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment

Brownfields Grant Program Gets Underway in Walker County, GA
Walker County, GA | Mar. 1 | Brownfield Financing | Community Development | Economic Development | Redevelopment

State Doubles Funding for Blight Removal at Former Marquette, MI Hospital
The Detroit News | Feb. 28 | Brownfield Financing | Redevelopment | State Finance Program

Evaluation Continues on Paulding County, OH Brownfield Sites
Crescent News | Feb. 27 | Brownfield Financing | Economic Development | Redevelopment

Highland Inn to Receive Brownfield Restoration Grant in Richmond, VA
News Leader | Feb. 24 | Brownfield Financing | Community Development | Economic Development | Historic Preservation | Redevelopment

Lehner Company Receive $1M for Delaware County, OH Brownfield Cleanup
EIN News | Feb. 23 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

New Construction at Brownfield Site in Tonawanda, NY Could Begin in Two Years
The Buffalo News | Feb. 20 | Brownfield Financing | Economic Development | Redevelopment

Contaminated Soil Investigation at Staten Island's Proposed Site in New York
silive.com | Feb. 18 | Brownfield Financing | Economic Development | Redevelopment

Governor Pitches $55.6B Tennessee State Budget With Funding for Environmental Cleanup
Dickson Post | Feb. 14 | Brownfield Financing | Economic Development | Redevelopment

Walker County, TN Town Hall Addresses Brownfields
WDEF-TV | Feb. 8 | Brownfield Financing | Community Development | Redevelopment

Highlights from the Online Resource Database

Local Policy to Promote Healthy Food Access: A Food Systems Framework
Access to Capital | Agriculture Finance | Brownfield Financing | Federal | Food Systems Finance | Foundations | Local Finance Program | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | State Finance Program | Tax Credits | Urban Development
To help local policymakers, leaders, advocates, researchers, and others understand policy options for communities seeking to increase access to healthy food, the Healthy Food Policy Project (HFPP) developed a framework to show how local law—including legislation, administrative regulations, and executive orders—can promote access to healthy food at various points along the food system. This framework also highlights planning documents such as comprehensive plans and sustainability plans which are often used to guide development and evaluation of local laws and other efforts.

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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