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CDFA Brownfields Finance Update - December 6, 2022

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Brownfields Financing Update
December 6, 2022
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Brownfields Finance Update

Features

CDFA Food Systems Finance Best Practices Guidebook, Available Now!
Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems Finance Best Practices Guidebook defines how traditional development finance tools can be used to launch and expand food and agricultural-related businesses and projects and create successful food systems finance programs at the local and regional levels.

Don't Miss the Upcoming Intro Brownfields Finance Course on December 7-8!
Join us on December 7 & 8 for the Intro Brownfields Finance Course, the industry's only comprehensive training curriculum that helps economic developers, policymakers, and real estate professionals master the financing strategies for the lifecycle of a brownfield property. Learn the basics of brownfields, the legal and regulatory challenges, and the financing tools available to clean up and build up these sites.

Appalachian Regional Commission: ‘Billions' Coming to Coal Communities
Massive economic opportunities are available for rural energy communities according to Gayle Manchin, the co-chair of the Appalachian Regional Commission (ARC). Increases in funding are anticipated for everything from water and sewage projects, to brownfield cleanup.

EPA Awards $240K Brownfields Grant to North Dakota Department of Environmental Quality
U.S. Senator Kevin Cramer (R-ND) announced the Environmental Protection Agency (EPA) awarded a $240,000 Brownfields grant to the North Dakota Department of Environmental Quality (NDDEQ). The funding was provided by the bipartisan Infrastructure Investment and Jobs Act (IIJA).

EPA Announces New Funding for Nationwide Brownfields TA And Research Grants
The EPA announced Requests for Applications for $57M in funding that is available for two new Brownfields technical assistance opportunities: one for new Brownfields Technical Assistance and Research cooperative agreements, and another for Technical Assistance to Brownfields communities. Both funding opportunities will help provide technical assistance for expansion of community-driven planning for assessment, cleanup, and reuse of Brownfield sites across the country, while creating good-paying jobs and supporting local economies.

Infrastructure Law Has Been 'Game Changer' for Pennsylvania
One year after President Biden signed a bill sending $1 trillion to states and municipalities to fix the nation's ailing infrastructure, Gov. Tom Wolf says the law will be a "game changer" as money continues to flow toward projects in Pennsylvania.

More Than $700M in Federal Funds Earmarked for Seaports
The United States Department of Transportation (USDOT) Maritime Administration (MARAD) has announced $703 million in grant awards for the Port Infrastructure Development Program (PIDP), a greater amount than any year in the program's history. Many of these planned seaport projects are on brownfield sites.

Vermont Gov. Announces $2M in Additional Brownfield Cleanup Awards
Governor Phil Scott and the Agency of Commerce and Community Development (ACCD) announced that seven additional awards and another $2.15M have been committed to remediate brownfields sites across Vermont. Since the Brownfields Revitalization Fund (BRF)opened, more than $6.8 million in cleanup funding has been awarded to 20 projects in seven counties.

Upcoming Events
Intro Brownfields Finance Course

CDFA-Bricker Webinar Series: Impacts of the Inflation Reduction Act on Energy Efficiency & Renewable Energy Projects
Wednesday, December 7, 2022 - 2:00 PM - 4:00 PM Eastern
The historic Inflation Reduction Act (IRA) will lead to increased energy efficiency and renewable energy projects throughout all market segments. The financial incentives that will be available in 2023 and beyond will make energy efficiency upgrades and solar power a true "no brainer." This webinar will focus on the commercial, industrial, agricultural, and non-profit sectors, with a panel of experts discussing how to access the financial incentives and highlighting specific project examples.

CDFA Federal Financing Webinar Series: Tools for Economic Growth with Treasury and SBA
Tuesday, December 13, 2022 - 2:00 PM - 3:30 PM Eastern
This session will highlight the resources available at the U.S. Department of the Treasury and Small Business Administration to finance economic growth in distressed communities. Featured programs include the State Small Business Credit Initiative, the CDFI Fund, New Market Tax Credits, and other small business financing programs like SBA 504 and 7a.

Brownfields Financing Headlines

Largest Landfill Solar Project in North America Completed in Mt. Olive, NJ
New Jersey Business Magazine | Dec. 5 | Brownfield Financing | Community Development | Energy Finance | Green Finance | Redevelopment

Cleanup of Girard, OH Property Underway
Tribute Chronicle | Nov. 30 | Brownfield Financing | Economic Development | Redevelopment

Economic Development Council Brings Over $8M to Athens, OH
Athens Messenger | Nov. 30 | Brownfield Financing | Economic Development | Redevelopment

Hotel Construction on Kmart Property in Menominee, WI Nears
The EagleHerald | Nov. 30 | Brownfield Financing | Economic Development | Redevelopment

Hochul Announces $10M Gloversville, NY Downtown Revitalization Projects
The Leader-Herald | Nov. 29 | Brownfield Financing | Economic Development | Redevelopment | Water Finance

Gary, IN Going After Federal Funding to Remediate Historic Church
The Times of Northwest Indiana | Nov. 29 | Brownfield Financing | Community Development | Redevelopment

'Hazardous' Site May Turn Into Housing in Palmetto, FL
Miami Herald | Nov. 29 | Brownfield Financing | Economic Development | Redevelopment

New Buildings Mean $1M in Taxes Diverted to the East Lansing, MI DDA
East Lansing Info | Nov. 28 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Kalamazoo, MI Housing Project Gets Another Boost in Funding
MLive | Nov. 27 | Brownfield Financing | Community Development | Economic Development | Housing Finance | Redevelopment

Taunton, MA Brownfield Redevelopment Fund to Clean Up Stove Factory
Taunton Daily Gazette | Nov. 23 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

Marquette, WI Seeking Brownfield Funding from EPA
Mining Journal | Nov. 14 | Access to Capital | Brownfield Financing | Disaster Recovery & Relief | Federal | U.S. Environmental Protection Agency (EPA) | Case Studies | EPA Clean-Up Grants

Attleboro, MA Gets State Grant for Contaminated Site
The Sun Chronicle | Nov. 14 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

$1.7M in EGLE Brownfield Funding to Redevelop Contaminated Michigan Sites
State of Michigan | Nov. 7 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program | Tax Increment Finance (TIF)

Researchers Receive $800K to Assess National City, CA's Brownfields
San Diego State University | Nov. 5 | Brownfield Financing | Economic Development | Redevelopment | U.S. Environmental Protection Agency (EPA)

Feds Take Over as Kansas City, MO Housing Co-op Is 'Slowly Collapsing'
The Kansas City Star | Dec. 6 | Brownfield Financing | Community Development | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)



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

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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