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CDFA Brownfields Finance Update - September 7, 2021

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Brownfields Financing Update
September 7, 2021
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Brownfields Finance Update

Features

Rhode Island Infrastructure Bank Approves $400K Brownfield Loan for Nexus Lofts Project
Rhode Island Infrastructure Bank approved a $400,000 loan from the Brownfields Revolving Loan Fund to finance environmental remediation work as part of the larger Nexus Lofts redevelopment project located at 49 North Union St. The redevelopment will include 27 affordable market-rate apartments with ground floor office and/or retail.

City of Ruston, LA Breaks Ground on $22.3M Monroe Street Corridor Project
The Monroe Street Corridor Project is composed of seven interconnected multiple infrastructure projects that will increase the efficiency and safety between Louisiana Tech University, its Enterprise Campus, downtown Ruston, and Interstate 20 made possible by a $17 million RAISE grant from the U.S. Department of Transportation. It features "complete streets" that integrate road diets, incorporates existing brownfield sites, and utilizes low-impact design principles.

Redevelopment of Former Contaminated Sites is Helping Reshape Maine
Since 1996, the state of Maine and its municipalities have received more than $94 million in brownfield redevelopment funds from the Environmental Protection Agency to clean up contaminated sites like those found in former mill towns. Redevelopment of brownfield sites is transforming contaminated areas into business and residential space while also ushering Maine away from its industrial past.

Cash for Connection: Colorado City Snags $2M for Street Improvements
The City of Montrose, Colorado - already working on a West Main corridor plan to better connect residents, pedestrians and businesses - just secured $2 million in state funds, which are expected to go a long way toward road and walkway improvements. The city was also able to leverage some federal funds from its Environmental Protection Agency brownfields assessment grant into corridor improvement planning.

City of Wheeling, WV to Divvy Up $1.1M in Community Development Block Grant Funding
The Wheeling City Council is expected to approve an ordinance authorizing a grant agreement with the U.S. Department of Housing and Urban Development in the amount of $1,186,308 for the CDBG funding for 2021. The list of city-wide projects includes $121,000 as the local match for the brownfield cleanup at the site of the proposed Robrecht Riverfront Park.

Fulton County, NY Set to Host Brownfields Summit in October
Local, state, and federal officials are set to gather at the Johnstown-Gloversville Holiday Inn for a two-day "Mohawk Valley Brownfield Development Summit" on October 6 to 7. The summit will tie in the Mohawk Valley's economic leaders, the brownfield sites ready for restoration, and America's brownfield developers looking to acquire sites for future economic growth.

Brewery and Riverfront Development in Ann Arbor, MI Get $870K in State Funds
Two Ann Arbor developments have acquired grant funding to help them environmentally restore properties for planned projects, including HOMES Brewery which has received a grant of $370,000 to address contamination issues. In addition to creating a tasting room, coffee shop, a commissary kitchen, an art gallery space, and a flex space for events.

Texarkana, TX Awarded $500K in EPA Revolving Loan Fund Supplemental Funding
The City of Texarkana, Texas was recently awarded $500,000 in EPA Revolving Loan Fund Supplemental Funding for additional clean up and reuse of Brownfield sites. The additional funding will support loans for abatement of contaminants in vacant properties with a viable redevelopment plan.

Upcoming Events
CDFA Federal Financing Webinar Series: The Federal Role in Financing Broadband

Intro Tax Credit Finance WebCourse
September 29-30, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course discusses the practical application of tax credit programs including brownfields, new markets, low-income housing, historic preservation, and state-specific programs.

CDFA-Bricker PACE Webinar Series: Best Practices for Marketing & Selling PACE Across All Market Sectors
Tuesday, September 29, 2021 - 2:00 PM - 4:00 PM Eastern
Now that the PACE marketplace has been "built", how does it become mainstream so that all property owners know about PACE? This workshop will explore proven methods for marketing and selling PACE to contractors, economic development agencies, commercial real estate professionals, and ultimately the property owner.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

West Michigan Redevelopment Projects Awarded $4.6M in State Brownfield Funding
MiBiz | Aug. 9 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment

Moda Midstream and EnCap Flatrock Midstream Agree to Sell Moda Ingleside Energy Center and Other Assets to Enbridge for $3B
Business Wire | Sep. 7 | Brownfield Financing | Infrastructure Finance

How the City of Jackson, MI Plans to Attract Investors to Historic Hayes Hotel Building
MLive | Sep. 4 | Access to Capital | Brownfield Financing | Community Development | Economic Development | Historic Preservation | Redevelopment

EPA Announces $131M WIFIA Loan for PFAS Treatment and Removal Systems in Orange County, CA
U.S. EPA | Sep. 1 | Brownfield Financing | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance

Understanding the Infrastructure Bills
Investopedia | Aug. 25 | Brownfield Financing | Economic Development | Energy Finance | Infrastructure Finance | Legislative

CEP Renewables Develops the Largest Landfill Solar Project in North America in New Jersey
PR Newswire | Aug. 17 | Brownfield Financing | Energy Finance

City of Mauldin, SC Accepts More Than $600K in Grant Funding to Three Projects
Greenville Journal | Aug. 17 | Brownfield Financing | Community Development | Economic Development | Redevelopment | U.S. Environmental Protection Agency (EPA)

$31M Project Will Be State-of-the-Art Campus for Youth in Austin, TX
Austin Talks | Aug. 12 | Brownfield Financing | Community Development | Economic Development | Education | Redevelopment

Montana Development Corporations Receive $1M in Brownfields Redevelopment Funding
State of Montana Newsroom | Aug. 12 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment | Revolving Loan Funds (RLFs)

New York State Homes and Community Renewal Announces Opening of New $40M Affordable and Supportive Housing Complex in Schenectady
New York State | Aug. 12 | Bond Finance | Brownfield Financing | Community Development | Energy Finance | Housing Finance | Social Finance | Tax Credits | Low Income Housing Tax Credits (LIHTCs)

Assessment Indicates 'No Fatal Flaws' at Rosemary Mill Site in Halifax County, NC
RRSpin | Aug. 10 | Brownfield Financing | Economic Development | Redevelopment | Revolving Loan Funds (RLFs)

Affordable Housing Conversion of Former Historic Cleveland, OH Building Gets Early Go-Ahead from Planning Commission
Cleveland | Aug. 6 | Bond Finance | Brownfield Financing | Energy Finance | Historic Preservation | Tax Credits | Low Income Housing Tax Credits (LIHTCs) | Federal Historic Rehab Tax Credits | State Historic Tax Credits

Town Officials, Volunteers Begin Work to Implement Brownfield Grant for Mystic River Boathouse Park in Connecticut
The Westerly Sun | Aug. 4 | Brownfield Financing | Redevelopment

Southeast Michigan to Benefit from Brownfield Funding to Redevelop Contaminated Sites
MI Headlines | Aug. 3 | Access to Capital | Brownfield Financing | Community Development | Redevelopment | Revolving Loan Funds (RLFs)



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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CDFA National Sponsors

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Brownfield Superfund Advisory, Inc
  • 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
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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