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CDFA Brownfields Finance Update - May 7, 2024

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Brownfields Financing Update
May 7, 2024
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Brownfields Finance Update


Join CDFA for the Return of the Revolving Loan Fund WebCourse Week!
Revolving Loan Fund WebCourse Week is returning with the intro level on May 13-14 followed by the advanced level on May 15-16. Register for one or both of these courses to learn from experts about developing, implementing, and managing efficient and impactful revolving loan fund programs.

Investment Projects, Housing Developments Will Create Over $1B in Investment in Michigan
Michigan Strategic Fund (MSF) approval of projects will enhance communities and provide housing across the state, positioning Michigan to attract projects and population growth. The projects, expected to generate a total capital investment of over $1 billion and create at least 1,000 jobs in Michigan, underscore the state's commitment to placemaking efforts across the state.

Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

Large Abandoned Industrial Complex in Cleveland, OH to Get a Second Life
The City of Cleveland plans to repurpose a giant industrial complex in a central neighborhood that has been largely been vacant since 1993. The complex, located at 7000 Central Ave., is a 183,000-square-foot building spanning the 10 acres.

Former Robrecht Facility in West Virginia Will Become a Riverfront Park Thanks to $1.7M in Funding
A piece of long-vacant property in Wheeling will become a riverfront park, thanks to $1.7 million in funding from Governor Jim Justice. The site of the former Robrecht facility, past WesBanco Arena along Wheeling Creek, will have bike and walking paths, trees, green space and connectors to the water for boaters, kayakers and fishermen.

Madison Township, OH Expressview Drive Brownfield Cleared for Future Development
Madison Township trustee chair Tom Craft announced that the brownfield at 861 Expressview Drive has been cleared for redevelopment. State demolition funds from the Ohio Brownfield Remediation Program dedicated $41,250 for cleanup and remediation of the site after testing for contaminated soil.

Michigan Approves Transformational Brownfield Plan for New Center Development
The Michigan Strategic Fund approved a Transformational Brownfield Plan for the Future of Health, a $3 billion development coming to New Center. The incentive package comes in valued at about $231.7 million. The project covers the Henry Ford + Michigan State University Research Center, a six-story parking garage, new residential units, and green space.

New Jersey Borough Receives $4.7M for Film Studio Part of a Billion-Dollar Waterfront Development
Carteret will receive $4.7 million in funding for its Carteret Stages film studio project, the borough and the New Jersey Economic Development Authority have announced. The project, part of a $1 billion, 10-acre waterfront redevelopment project, is one of several receiving financial support as part of authority's Film and Digital Media Studio Infrastructure Program.

Upcoming Events
Intro Revolving Loan Fund WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: AI & Bonds
May 21, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will unravel the multifaceted dimensions of AI's role in the municipal market, potential advantages and challenges that arise from embracing AI, and its impact on development finance.

2024 CDFA Equitable Lending Learning Series: Strategic Partnerships for Sharing Financial Risk
May 28, 2024 - 1:00 PM - 3:00 PM Eastern
In this installment of the CDFA Equitable Lending Learning Series, speakers will explore how leveraging the strengths and expertise of various capital partners, technical assistance providers, and philanthropic supporters can help build successful and sustainable programs.

Brownfields Financing Headlines

Lima, OH Looking for Brownfield Sites
Aol | May. 2 | Brownfield Financing | Community Development | Redevelopment

Marquette, MI Commission Approves Services Agreement With Trimedia for Former Cliffs-Dow Site
TV6 | Apr. 29 | Brownfield Financing | Community Development | Economic Development | Redevelopment

Redevelopment of Petoskey's Historic Michigan Maple Block Building Gets Financial Boost From State
Rural Innovation Exchange | Apr. 25 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Lewistown, MT Moving Forward With Housing Development Plans
3 KRTV | Apr. 24 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Local Brownfields Discussed at Local Summit at Herkimer College in New York
WKTV | Apr. 23 | Brownfield Financing | Community Development | Redevelopment

City of Middletown, CT Demolishes Abandoned Dry Cleaner on William Street
The Wesleyan Argus | Apr. 22 | Brownfield Financing | Community Development | Redevelopment

How San Francisco, CA EPA Are Turning Previously Toxic Areas Into Thriving Community Spaces
abc 7 News | Apr. 22 | Brownfield Financing | Community Development | Redevelopment

Environmental Cleanup Halts at Gowanus Green, NY
Brooklyn Paper | Apr. 22 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Land Bank Reviewing ‘Long Lists' of Parcels for Potential Cleanup, Acquisition in Ohio
The Highland County Press | Apr. 19 | Brownfield Financing | Community Development | Redevelopment

Lake Street Townhome Project in Ithaca, NY Moves Forward After Developers Respond to Contamination Concerns
ithaca.com | Apr. 18 | Brownfield Financing | Community Development | Housing Finance | Redevelopment

Wausau, WI Receives Brownfield Grant From DNR for Thomas Street Cleanup
Wausau Pilot & Review | Apr. 4 | Brownfield Financing | Community Development | Redevelopment

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


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • 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
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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