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CDFA Brownfields Finance Update - February 6, 2024

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Brownfields Financing Update
February 6, 2024
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Brownfields Finance Update

Features

The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

EPA Awards Nearly $2M in Cleanup and Climate Grants to Choctaw Nation of Oklahoma
The Choctaw Nation has been awarded $2 million in federal grant money from the Environmental Protection Agency (EPA). The Nation received $1.57 million in Brownfields funding to assess and clean up abandoned properties and a $400,000 Climate Pollution Reduction grant to reduce greenhouse gas emissions.

Applications Now Open for the 2024 Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!

$87.5M in Grants Strengthen and Accelerate Site Readiness Efforts in Michigan
The Michigan Economic Development Corporation (MEDC) announced the approval of $87.5 million in grant funding for 18 projects across the state of Michigan through the Strategic Site Readiness Program (SSRP) to support the state's efforts to compete for and win transformative projects. Of the 18 awardees, 10 are brownfield sites that will be receiving 49% of the award funding. 

Coming Up Next Month: CDFA's Intro and Advanced Bond Finance WebCourses
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. 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.

New York DEC Marks Successful Year for State's Brownfield Cleanup Program
New York State Department of Environmental Conservation (DEC) Commissioner Basil Seggos announced another year of successful environmental cleanups in the State's Brownfield Cleanup Program (BCP). In 2023, DEC issued 58 Certificates of Completion to sites in the program and accepted 68 new sites into the BCP, helping protect public health and the environment across New York State while revitalizing neighborhoods and strengthening local economies. 

EPA Provides $4M to Kansas State University for Technical Assistance to Tribal Nations
The U.S. Environmental Protection Agency (EPA) announced the selection of Kansas State University (KSU) to receive $4 million in grant funding over the course of five years to provide technical assistance and increase the capacity of tribal nations and entities to build sustainable brownfield programs; establish and enhance their Tribal Response Programs; and conduct and oversee brownfield assessment and cleanup activities.

Michigan Increases Number of Projects, Brownfield Funding in 2023
The 2023 fiscal year saw the Michigan Department of Environment, Great Lakes, and Energy (EGLE) award more funding to more brownfield redevelopment projects compared to the previous year. Overall, EGLE awarded $31.3 million in brownfield incentives. The funding went to 88 projects in 49 communities around Michigan.

Upcoming Events
Intro Bond Finance WebCourse

CDFA Tribal Finance Webinar Series: Federal Funding for Tribal Communities
February 13, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers from federal agencies will discuss financing tools and programs available to tribal nations to promote community health, restore local economies, and protect our environment.

CDFA Food Systems Finance Webinar Series: Exploring Bonds as the Foundational Financing Tool
February 27, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, speakers will explore the potential for leveraging this foundational financing tool to cultivate resilient and thriving local and regional food systems.

Brownfields Financing Headlines

DNR Awards Brownfield Grant to Village of Clinton, WI
Wisconsin Department of Natural Resources | Feb. 1 | Brownfield Financing | Community Development | State Finance Program

$19M Grant to Clean up GM's Former Fisher Body Plant Site in Michigan
FOX47 News | Feb. 1 | Brownfield Financing | Community Development | Redevelopment

City of Jefferson, IA Applying for Funds to Assist With a Structure Near Downtown
Raccoon Valley Radio | Feb. 1 | Brownfield Financing | Community Development | Redevelopment

Federal Funding Available for Volusia County, FL Brownfield Sites
WFTV9 | Jan. 30 | Brownfield Financing | Community Development | Redevelopment

Fairfield, CT Developers may Reject $3M State Grant Over Costly Conditions on Housing
CT Examiner | Jan. 29 | Brownfield Financing | Community Development | Redevelopment

Southwest Virginia Towns Pursue Redevelopment of Blighted Buildings
The Appalachian Voice | Jan. 26 | Brownfield Financing | Community Development | Redevelopment

Highland County, OH Land Bank Board Takes Action on Numerous Properties
The Highland County Press | Jan. 19 | Brownfield Financing | Community Development | Redevelopment

Hazardous Coal Ash Could Alter Chapel Hill, NC Cleanup Plan
WFAE | Jan. 18 | Brownfield Financing | Community Development | U.S. Environmental Protection Agency (EPA)

Brownfield Panel Backs Tax Incentives for Henry Ford Health Expansion in Detroit, MI
The Detroit News | Jan. 10 | Brownfield Financing | Community Development | State Finance Program

Ucore Acquires Alexandria, LA Facility for Rare Earth Element Processing Plant
Yahoo! Finance | Jan. 4 | Brownfield Financing | Community Development | Economic Development

Former Peninsula, OH Golf Course to Expand National Park Experience
ABC News 5 | Jan. 3 | Brownfield Financing | Community Development | State Finance Program

Plans Unveiled for Bioscience Building at the Former New Haven, CT Coliseum Site
NBC CT | Jan. 3 | Brownfield Financing | Community Development | Redevelopment

Millions in Local, State, and Federal Tax Dollars Set for Historic Mill Demolition in Illinois
Cities 929 | Jan. 2 | Brownfield Financing | Community Development | Economic Development



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
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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