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CDFA Brownfields Finance Update - May 3, 2022

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Brownfields Financing Update
May 3, 2022
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Brownfields Finance Update

Features

How Louisville, KY Plans to Use Next $87M in ARP Funds
$10 million would help remediate the Rhodia brownfield site in Park Hill which once housed manufacturing firms that made products like lacquers, varnishes and coatings until the most recently operating plant closed in 1994. The buildings at the 16.8-acre site south of Hill Street and near railroad tracks have been demolished, and the new funding would go for brownfield remediation necessary for a project to proceed.

Brownfield Redevelopment Targeted at Summit in Amsterdam, NY
The city of Amsterdam has a combined 902 acres of land, including 122 "strategic sites", set to be included in New York state's Brownfield Opportunity Area zone program, which unlocks access to federal tax credits as well as other state and federal money aimed at helping to clean-up polluted soil and redevelop industrial sites. The summit - the Mohawk Valley Brownfields Developer Summit was held at Fulton Montgomery Community College.

From Dump to Movie Studio? Fort Lauderdale, FL Working on That Script
The old Wingate incinerator site, a long vacant parcel with an infamous past, might finally have a well-heeled, name-in-lights suitor in the form of a movie studio. A former Superfund site, the city-owned land was once home to a municipal incinerator that left soil and water contaminated with a toxic brew. The 61-acre parcel was cleaned up two decades ago, but has failed to draw any development interest — until now.

Essex Crossing in New York, NY Preps New 9-Story Development With Brownfield Cleanup
Delancey Street Associates, the developer consortium behind the billion-dollar Lower East Side project, recently submitted an application to the state for Brownfield Cleanup at Site 9 (aka 120 Essex). This will spell the end of the decades-old Essex Street Market building just north of Delancey, which has been in a proper state of devolution since vendors relocated across the street three years ago.

Environmental Justice, Including at Waste Sites, Takes Center Stage at Houston, TX Event
As current and former EPA officials called for greater action on EJ, the author of seminal research on inequity issues around Houston landfills and incinerators shared how the concept got its start. Houston's heavy concentration of industrial facilities, lack of zoning and early litigation around environmental justice made it an apt location for multiple discussions about EJ at the recent Society of Environmental Journalists conference.

Amendments to the New York State Brownfield Cleanup Program
The New York State Legislature has passed legislation that amends the NYS Brownfield Cleanup Program (BCP) and associated tax credit program and extends the program for another 10 years. The amendments extend the BCP, which was scheduled to terminate on Dec. 31, 2022, another 10 years, through Dec. 31, 2032,

EPA Proposes Superfund Site in Georgetown, DE
The U.S. EPA is proposing to add the sites of two former Georgetown dry cleaning businesses to the agency's Superfund national priorities list. The site is to be known as the Georgetown North Groundwater site and includes the locations of the former Georgetown Dry Cleaners and Thoro-Kleen Dry Cleaners.

Houston, TX's Huge New Urban Solar Farm is a Win for Environmental Justice
Sunnyside, a neighborhood of about 25,000 residents on the southern side of Houston, Texas is getting ready to live up to its name, The largest urban solar farm in the US will be built on a 240-acre site, a former landfill and nearby incinerator, that emitted tons of toxic fumes over neighbors. Once operational in 2023, the 50-megawatt plant will generate enough electricity to power up to 5,000 homes.

Upcoming Events
Intro Housing Finance WebCourse

Exploring Equitable Capital Technology (EC-Tech) in Development Finance
Tuesday, May 24, 2022 - 2:00 PM - 3:00 PM Eastern
CDFA is launching our new Equitable Capital Technology Initiative, which will combine technology solutions with training and technical assistance for lenders to help increase the flow of capital to minority entrepreneurs. Equitable capital technology (or EC-Tech) is emerging as a driver of unlocking capital for small and medium-sized businesses not a fit for venture capital, nor large enough for a traditional bank loan.

CDFA Infrastructure Finance Learning Series: Building the Foundation for Infrastructure Projects
Tuesday, May 31, 2022 - 1:00 PM - 4:00 PM Eastern
Planning for the coming decades of infrastructure projects is essential for economic development professionals. Funding allocations will vary by community, and it is important for each place to begin preparing now so that funds can be deployed efficiently and managed effectively. This installment will help attendees set up their infrastructure projects to be competitive in securing funds and impactful for their community's future.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

Company to Conduct Voluntary Cleanup on Brownfield Site in Gaffney, SC
The Gaffney Ledger | May. 2 | Brownfield Financing | Economic Development | Redevelopment

State of Ohio Awards Brownfield Money to 24 Projects in Cuyahoga, Summit, Lorain Counties
Cleveland.com | May. 2 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Jefferson County, OH Awarded Brownfield Remediation Funds
The Herald-Star | May. 2 | Brownfield Financing | Economic Development | Redevelopment

State Money Will Clean Up Polluted Site for Redevelopment in Loveland, OH
Cincinnati Enquirer | May. 2 | Brownfield Financing | Redevelopment

With $2.5M in Hand, Stamford, CT's Pacific Street Slated for a Rebirth With Beer Garden, New Retail Space
Stamford Advocate | May. 2 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Hancock County, IN Receives State Money for Brownfield Projects
WFIN Local News | Apr. 29 | Brownfield Financing | Redevelopment | State Finance Program

Brownfield Authority Approves Funding for New Workforce Housing Development in Grand Traverse, MI
The Ticker | Apr. 29 | Brownfield Financing | Housing Finance | Redevelopment

Kendallville, IN Dedicates McCray Solar Field
The News Sun | Apr. 26 | Brownfield Financing | Green Finance | Redevelopment

What Brownfield Development is Planned for Beaver Falls, PA and Rochester, PA?
Beaver County Times | Apr. 25 | Brownfield Financing | Housing Finance | Infrastructure Finance | Redevelopment

Incentives for $52M Apartment Building Set to Go Before Grand Rapids, MI Commission
MLive | Apr. 25 | Brownfield Financing | Housing Finance | Redevelopment

Summit to Highlight Most Developable Mohawk Valley, NY Brownfield Sites
Observer-Dispatch | Apr. 22 | Brownfield Financing | Economic Development | Redevelopment

The Remarkable Rebirth of Bethlehem Steel's Home in Buffalo, NY
The Buffalo News | Apr. 22 | Brownfield Financing | Redevelopment

Deserted Offices, Schools, and Stores Being Converted Into Housing in Metro Detroit, MI
Detroit Free Press | Apr. 20 | Access to Capital | Brownfield Financing | Housing Finance | Redevelopment

New York Department of Environmental Conservation Seeks Comment on Brownfield Cleanup Plan
Finger Lake Times | Apr. 16 | Brownfield Financing | Redevelopment

$3M Earmark Will Spur More Development at Springfield Innovation Center
VTDigger | Apr. 10 | Brownfield Financing | Economic Development | Redevelopment

Grant Awarded to Manitowoc, WI for City Revitalization Effort
Seehafer News | Mar. 29 | Brownfield Financing | Redevelopment | State Finance Program



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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