The Council of Development Finance Agencies (CDFA) is pleased to announce that Representatives Stephanie Murphy (D-FL) and Darin LaHood (R-IL) have introduced the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) in the U.S. House of Representatives as H.R. 5422. MAMBA would modernize the Internal Revenue Code (IRC) as it relates to small issue bonds, specifically the private activity bond rules for first-time farmers and manufacturing bonds.

The Roadmap to Redevelopment Report was developed through a 2-day process that included interviews with numerous stakeholders from the government, agriculture, business, and non-profit sectors. The plan provides a framework for the financing of the redevelopment of One Monument Square in Troy, New York.

As federal tax incentives for wind and solar energy projects set to expire this year, project costs will increase, which is sure to impact the renewable energy market in 2020. One approach for utilities looking to develop renewable energy is to consider siting the project on brownfields to reduce project costs and speed up permitting timelines.

The Outlets on Corpus Christi Bay in Robstown sit on 30 acres of what was once a brownfield site, one of many in Texas that has received or is eligible for a Texas Railroad Commission development grant. Brownfields Response Program grants offer cleanup money for brownfield sites: previously develop land with potential for redevelopment.

Seventeen projects in St. Lawrence County will receive more than $4.3 million in state funding from Empire State Development. The biggest allotment among them is $1,322,000 for SUNY Canton's proposed Midtown Plaza Redevelopment into a mixed-use property.

The Treasury Department was convinced by EPA's case that Opportunity Zones need to cater to brownfield redevelopment to be successful. The final regulatory release develops clear and detailed pathways and preferences for real estate redevelopment.

Environmental assessment work on the Paper Mill Property has been completed, and a Corrective Action Plan to remediate the property has been developed and approved. Almost $1.2 million in funding commitments have been secured.

Chicago developers are making bold plays to turn long-vacant brownfield sites, obsolete industrial corridors, and underutilized historic buildings into sprawling megadevelopments. The recent push to "go big" represents a desire by developers to land big corporate tenants and provide the related housing, retail, and other needs in surrounding mixed-use campuses.

CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market in 2020
Tuesday, January 21, 2020 - 1:00 PM Eastern

Fundamentals of Economic Development Finance WebCourse
January 29-30, 2020 - Daily: 12:00 - 5:00 PM Eastern

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This report provides financing strategies for the redevelopment of One Monument Square in Troy, NY.

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