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CDFA Brownfields Finance Update - June 1, 2021

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Brownfields Financing Update
June 1, 2021
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Brownfields Finance Update

Features

Advance Your Knowledge of Tax Credits During CDFA Virtual Summer School
The Advanced Tax Credit Course will take a deeper dive into the use and applicability of tax credits at CDFA Virtual Summer School, building on the basic structure of tax credits covered in the Intro Tax Credit Course. Expert speakers will discuss details of New Markets Tax Credits (NMTC) and Low-Income Housing Tax Credits (LIHTC), and they will also present how tax credits can be used alongside other types of finance tools.

How a Small Change Could Help Revitalize Main Streets Across Pennsylvania
Legislation under consideration in Pennsylvania's House Bill 610 would expand the scope of land banks to help them address communities' brownfields. Unlike the state's redevelopment agencies, land banks are not protected from the environmental liability associated with remediating these sites so the new bill proposes adding land banks to the list of entities that can do this work without being held responsible for cleanup.

Michigan Advocates Push for Statewide Affordable Housing Legislation
The lack of affordable housing supply is increasingly important for members of the Grand Rapids Area Chamber of Commerce, which is now helping lead a legislative effort to give municipalities more financing tools. Brownfield incentives are the main tool to ensure a level of affordability for tenants, but the incentives are limited to projects in certain areas. A bipartisan multi-bill package would allow for a variety of tax incentives to grow Michigan's affordable housing supply.

EPA Grants $900K to Three Puerto Rico Towns for Brownfield Cleanup and Evaluation
The US Environmental Protection Agency (EPA) has announced that three Puerto Rico municipalities have been selected to receive a total of $ 900,000 to evaluate and clean up contaminated assets under the agency's Brownfield program. The towns of Barranquitas, Guaynabo, and Vega Alta divide the funds allocated to Puerto Rico evenly.

Adaptive Reuse of Washington State University Steam Plant Explored
The Port of Whitman County, WA has been awarded $200,000 to study reuse opportunities for Washington State University's decommissioned College Avenue Steam Plant. The Washington State Department of Ecology grant will fund a feasibility study and environmental review of the historic site, as part of a competitive selection process to award $2 million for projects that support the cleanup and redevelopment of a brownfield site during the 2019-2021 biennium.

Two State Lawmakers Want the State to Pay to Clean Up Ohio's Abandoned Factories
Thousands of abandoned buildings across Ohio are simply too contaminated to develop and need to be cleaned before they can be repurposed. That's why Senators Michael Rulli (R-Salem) and Sandra Williams (D-Cleveland) have introduced two new bills - one to create a list of all the Brownfield sites in Ohio and another to restart a program that used to provide grants for fixing them up.

Tribal Leaders Receive $800K for Cleanup of Former Oregon City, OR Paper Mill
The Confederated Tribes of Grand Ronde's efforts to restore the Willamette Falls property in Oregon City received a significant boost with the announcement of an $800,000 grant from the Environmental Protection Agency. Tribal leaders applied for the EPA Brownfields Grant Program funds in October and will begin using the restoration funds this year on the former Blue Heron Paper Co. mill.

Worcester, MA Lot Vacant for More Than 60 years Turning into Mixed-Income Housing, Retail
The Massachusetts Development Finance Agency awarded $257,800 through the Brownfields Redevelopment Fund to the Main South Community Development Corporation to assess and remediate a vacant lot in Worcester's Main South neighborhood. Main South CDC is building a mixed-use facility at the site that will feature 48 units of mixed-income rental housing and ground-floor commercial and retail space.

Upcoming Events
CDFA Virtual Summer School

Advanced Tax Increment Finance WebCourse
Daily: 12:00 - 5:00 PM Eastern
This course will focus on structuring TIF deals and developing short- and long-term policies. Attendees will also learn about performance monitoring, feasibility analysis, and using TIF in conjunction with other development finance tools.

CDFA Federal Financing Webinar Series: Federal Financing for Energy and Water Systems
Tuesday, June 8, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts from the EPA and DOE will highlight best practices, case studies, and mitigation tools that will help your community finance critical projects.

CDFA Brownfields Technical Assistance Program


Brownfields Financing Headlines

Lincoln, NE Gets $800K EPA Grant to Clean Up Contaminated Properties
KFOR | May. 26 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA) | EPA Assessment Grants

Michigan Strategic Fund Backs Detroit, Traverse City Revitalization Projects
DBusiness | May. 26 | Brownfield Financing | Member News | Redevelopment | State Finance Program | State Brownfield Programs

St. Clair Shores, MI Dedicates Blossom Heath Beach House
Macomb Daily | May. 25 | Brownfield Financing | Community Development | Tax Increment Finance (TIF) | Case Studies

Tuscola County, MI Awarded Brownfield Grant
Huron Daily Tribune | May. 25 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA) | EPA Assessment Grants | EPA Clean-Up Grants

State Funds Will Aid Pennsylvania Cities Demolition Programs
Tube City | May. 25 | Brownfield Financing | Redevelopment | State Finance Program | State Brownfield Programs

Brownfields: A Look at Designations, Funding, and Usage
EHS Daily Advisor | May. 25 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA)

Three Indiana Communities Receive EPA Grants to Address Brownfields
Daily Journal | May. 22 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA) | EPA Assessment Grants | EPA Clean-Up Grants

Titusville Among Seven Florida Communities to Get EPA Grant
Hometown News | May. 20 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA)

Manitowoc and Milwaukee, WI to get $1.1M in Brownfield Grants
The Daily Reporter | May. 17 | Brownfield Financing | Redevelopment | U.S. Environmental Protection Agency (EPA) | EPA Assessment Grants | EPA Clean-Up Grants

Two Vermont Entities to Receive $1.1M from EPA for Brownfields Cleanup
Vermont Business Magazine | May. 13 | Access to Capital | Brownfield Financing | Rural Development | U.S. Environmental Protection Agency (EPA)

Grand Rapids, MI City Commission Approves Budgets for Economic Development Boards, Commissions
Grand Rapids Business Journal | May. 13 | Brownfield Financing | Community Development | Economic Development | Tax Increment Finance (TIF)

Sites in New York's Capital Region Get Brownfield Funding
News 10 | May. 12 | Brownfield Financing | Redevelopment | Social Finance | U.S. Environmental Protection Agency (EPA)

Niagara County, NY Industrial Development Agency Approves Tax Breaks for Four Projects
The Buffalo News | May. 12 | Brownfield Financing | Redevelopment

Four New Jersey Projects to Receive $1.9M for Brownfields Cleanup and Assessment
Insider NJ | May. 11 | Brownfield Financing | U.S. Environmental Protection Agency (EPA)

EPA Awards Kauaʻi, HI $300K in Brownfields Funding to Clean Up Old Sugar Mill Site
Maui Now | May. 11 | Brownfield Financing | U.S. Environmental Protection Agency (EPA) | Case Studies | EPA Assessment Grants | EPA Clean-Up Grants



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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