The House voted 409-8 to pass legislation that would revamp a popular U.S. EPA land cleanup program. The "Brownfields Enhancement, Economic Redevelopment and Reauthorization Act," or H.R. 3017, would give fresh congressional approval to EPA's program for remediating and redeveloping former industrial or commercial sites where there is real or perceived environmental contamination.

To encourage both redevelopment and cleanup, the state's "brownfields" program offers developers big tax breaks and legal protection from liability if they stick to a state-approved cleanup plan. Although it's not discussed much, the brownfields program is driving some of the most prominent redevelopment efforts in Charlotte.

The city purchased the property about a year ago for $309,000. Cleaning up the former oil station site will cost about $500,000 to $550,000. The assessed value of the building stands at about $1.9 million. The city will recoup about $890,000 during the 25-year life of the tax-increment financing district.

The new Y project, which is redeveloping the 20,000-square-foot Lyric building and adding 45,000 square feet north of it, was announced in May 2015. Since that time, $7.1 million has been raised through donations. In addition, the YMCA will be able to utilize $16.9 million from the 11th Street Corridor Tax Increment Financing Plan to redevelop the Lyric site, which has been vacant since 2012.

The city will establish a new tax increment financing district at each site, as well as a Community Reinvestment Area with a 15-year, 100 percent real property tax abatement. It will also offer an Enterprise Zone Agreement for a 10-year, 75 percent property tax abatement related to the office space built at each project.

Connecticut will spend $13.6 million to assess or redevelop brownfield sites in 14 municipalities. The newest round of funding will pay to remediate and revitalize 89 acres of blighted properties. The state has invested more than $220 million in brownfield redevelopment since 2012.

Since the program was launched in 1992, the program has awarded $200 million in brownfield grants and loans for 350 projects in Michigan, said the Department of Environmental Quality (DEQ). Just last year, $6.1 million was awarded for 26 new projects.

Shawnee City Council to vote on a TIF deal that would save a developer $25M for 25 years to redevelop a strip mall into 530 apartment units, an underground parking garage and 11 buildings to house restaurants and retail businesses.

The Senate Finance Committee's new tax reform legislation is much better for affordable housing, community development, historic preservation, and renewable energy than the House tax reform legislation, which the Ways and Means Committee favorably reported to the full House.

After missing two more deadlines, a developer is poised to meet final city conditions and start a much-anticipated, long-delayed $19.8 million remake of the crumbling, landmark Garver Feed Mill and surrounding property on the East Side. The building will be redeveloped into an artisan food production facility.

CDFA Online Brownfields Project Marketplace
January 18, 2018 - 12:00 - 5:00 PM Eastern

CDFA Releases Redevelopment Financing for The Steelworks Center of the West - Pueblo, CO

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Brad Elmer from Baker Tilly presents on the capital stack that was necessary to finance the redevelopment of the historic Brookfield Building in downtown Kansas City, Missouri.

Sherry Howard and Carol Thompson from Palm Beach County as well as William Loewenstein from Community Initiatives Development Corporation present on the structure that Palm Beach County, FL operates to remediate brownfields.

Colin Kalvas from Bricker and Eckler and Paul Toth from the Toledo-Lucas County Port Authority discuss the myriad steps required to remediate the Overland Industrial Park in Toledo, OH.

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