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Brownfields Financing Update
January 6, 2015
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Brownfields Financing Update

Features

Governor Cuomo Vetoes Brownfields Bill, Promising Upgrade
Governor Andrew Cuomo recently vetoed a bill that would have temporarily extended the state's Brownfield program that provides developers with tax credits to clean up contaminated sites, according to Capital. The bill would have used a $300 million bond to fund the program, which would have extended the availability of tax credits until March 2017. Cuomo stated that he would reintroduce a proposal that would substantially reform the program this year.

EPA Environmental Education Local Grants -- Solicitation Notice
The US Environmental Protection Agency released this solicitation notice for Environmental Education Local Grants.

CALED Announces Newly Formed Brownfield Committee
The California Association for Local Economic Development announced a newly formed Brownfield Committee that will help California communities and economic development professionals identify funds, tools, and expertise necessary to revitalize brownfield sites.

Brownfield Grants Help Put Old Buildings Back on Tax Rolls
According to the Hickory Record, over the last seven years, the US EPA's brownfield program has contributed $800,000 toward the assessment of brownfield sites in Hickory, NC. More than 160 buildings have been identified through the program, which allows the city and potential developers a better understanding of how to address brownfield properties.

Upcoming Events
CDFA — EPA Brownfields Financing Webinar Series: Financing Tools for Transformation
CDFA Brownfields Technical Assistance Program


The CDFA Brownfields Technical Assistance Program is funded by a grant from the U.S. EPA to provide assistance to communities throughout the country that are looking to finance the redevelopment of brownfield sites.

CDFA Brownfields Financing Resource Center
The CDFA Brownfields Financing Resource Center is a one-stop hub for all of the resources, reports, headlines, and projects that CDFA collects and publishes related to brownfields finance. Find links to resource tags, technical assistance, original research, upcoming webcasts, reference guides, daily headlines, and more.

Brownfields Financing Headlines

Brownfield Plan on Bay City Commission's Agenda
Michigan News | Jan. 6 | Brownfield Financing | Tax Increment Finance (TIF)

Lackawanna County, PA Targets Brownfield Sites
TheTimes-Tribune | Jan. 5 | Access to Capital | Brownfield Financing | Redevelopment

West Virginia Communities Seek $3.2M in EPA Funding
WBOY | Jan. 2 | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

WRPA, Brownfield Coalition Target $200K for Projects
The Business Journal | Jan. 2 | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

Funds Sought to Assess Brownfields in Franklinton, OH
Columbus Dispatch | Dec. 29 | Access to Capital | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

Business Community Calls for Extension of Brownfield Program
The Business Council of NY | Dec. 23 | Access to Capital | Brownfield Financing | State Finance Program

Brownfield Money Gives Built Areas Second Life
The Times Herald | Dec. 22 | Access to Capital | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

Long-Awaited Little Village Park to Open in Chicago, IL
Chicago Tribune | Dec. 19 | Brownfield Financing | State Finance Program

Preston, CT Seeks More Federal Cleanup Funds
The Bulletin | Dec. 19 | Brownfield Financing | Local Finance Program | U.S. Environmental Protection Agency (EPA)

$20M Metro Place Project Moves Forward in Lansing, MI
Lansing State Journal | Dec. 18 | Access to Capital | Brownfield Financing | Tax Credits

New Owners Start Process to Demolish Old School Building
Record Eagle | Dec. 18 | Access to Capital | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

Martinsburg Group Nets More Funding for Foundry Project
HERALD MAIL | Dec. 15 | Brownfield Financing

5 Southern IN Counties Seek a $600K EPA Brownfield Grant
The Republic | Dec. 15 | Access to Capital | Brownfield Financing | Local Finance Program | U.S. Environmental Protection Agency (EPA)

Langley Brownfield Redevelopment Strategy Delivers $192 M
Federation of Canadian Municipalities | Dec. 15 | Brownfield Financing

Germantown Rail Corridor Brownfield Redevelopment
Great Ecology | Dec. 15 | Brownfield Financing

Coos Bay Public Meeting Prior to Submission of EPA Grant App
Coos Bay World | Dec. 15 | Brownfield Financing

Michigan Direct Financial Incentives 2014
Area Development | Dec. 8 | Access to Capital | Brownfield Financing | EB-5 Visa | Revolving Loan Funds (RLFs) | Tax Credits | Tax Increment Finance (TIF)

Auto Supplier Opens North American HQ in Madison Heights, MI
candgnews.com | Dec. 8 | Access to Capital | Brownfield Financing | Economic Development

PM Environmental Begins Work on Brownfield in Campbell Co. Tenn.
PM Environmental | Dec. 8 | Access to Capital | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

Northville, MI Amends Plan for Brownfield Property
HometownLife | Dec. 7 | Access to Capital | Brownfield Financing | Redevelopment | Tax Increment Finance (TIF)

Holland, MI City Council Approves Brownfield Reimbursement
Holland Sentinel | Dec. 7 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment


Highlights from the Online Resource Database

Brownfield Remediation Financing in North America and Calgary's Rivers District
Brownfield Financing
This paper from Robert Sroka examines tax increment financing and other financing tools used to ease brownfield redevelopment and remediation. Through an examination of these tools and their application in the US and Canada, the paper evaluates the Alberta's Community Revitalization Levy (CRL) and its application in Calgary's Rivers District.

Berry Lane Park - Brownfield Case Study
Brownfield Financing | Public-Private Partnership (P3) Financing
Association for Redevelopment Initiatives' case study of Berry Lane Park, a public park transformed from 12 former brownfield sites in one of New Jersey's poorest neighborhoods. Berry Lane Park was funded through a mix of public and private sources including EPA and HUD grants.

Milltown Park Brownfield Case Study
Brownfield Financing | Revolving Loan Funds (RLFs) | Tax Increment Finance (TIF)
Association for Redevelopment Initiatives' case study of Milltown Park, a former mill site that was redeveloped using TIF and a USDA Rural Housing Super Green-LEED Platinum Loan.


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
info@cdfa.net

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