CDFA Creates New Brownfields Project Marketplace to Advise on Projects and Financing Resources --- Online Marketplace Scheduled for June 22-24, 2016

Miles & Stockbridge P.C.

The Council of Development Finance Agencies (“CDFA”), a national association dedicated to the advancement of development finance concerns and interests, announced the creation of the Brownfields Project Marketplace (“Marketplace”). The Marketplace is one component of  CDFA’s Brownfields Technical Assistance Program, which is funded by a grant from the U.S. Environmental Protection Agency to provide FREE assistance to communities throughout the country that are looking to finance the redevelopment of brownfield sites. Brownfields redevelopment financing solutions are increasingly sought across the country in order to restore contaminated sites and/or to return abandoned industrial land to productive use. The cleanup and redevelopment of brownfield sites can advance a region’s economy, restore the local environment, and ultimately lead to permanent job creation and greater attraction of external capital to the community.

What is the Marketplace? The Marketplace is FREE brownfields financing technical assistance. The Marketplace was created with an understanding that it is often difficult to bring the public- and private- sectors together in the same place, and harder still to have each engage in an open discussion about brownfield projects. The Marketplace provides an initial platform for those introductions and connections to be made. It also provides communities with a better understanding of the financing resources available to them for their brownfields projects

Will the Marketplace provide funding for a Brownfields project?  No, CDFA does not provide direct project financing. The Marketplace is intended to give communities a better understanding of the resources and financing tools available. The Marketplace will also bring greater awareness to a project as CDFA promotes the projects that are enrolled in the Marketplace to CDFA’s network of over 25,000 development finance individuals.

How does the Marketplace work?  There are two different formats of the Marketplace -- one that takes place online, and one that takes place in-person.

The Online Marketplace will take place on June 22-24, 2016 from 1:00 – 5:00 PM (EST), and will be similar to a webcast. Communities will have the opportunity to present their projects online detailing important information on their Brownfields sites to an audience of advisors, experts, and other participating communities. Presentations are immediately followed by advisor recommendations and discussions related to the communities' redevelopment plans, financing sources, and project financing. Online Marketplace sessions are 30 minute sessions, allowing approximately 10 minutes for presentations and 20 minutes for recommendations and related discussion.

The In-Person Marketplace will take place at various locations throughout the country, which are scheduled to be held in New Orleans, LA on November 2-3, 2016 and in Phoenix, AZ from October 12-13, 2016.  The In-Person Marketplaces will require travel, but offer unique opportunities for face-to-face technical assistance and networking.

How can a community register for the Marketplace?  To enroll a Project in the Marketplace, complete the application here. CDFA staff will follow up with registrants to confirm submissions.

Opinions and conclusions in this post are solely those of the author unless otherwise indicated. The information contained in this blog is general in nature and is not offered and cannot be considered as legal advice for any particular situation. The author has provided the links referenced above for information purposes only and by doing so, does not adopt or incorporate the contents. Any federal tax advice provided in this communication is not intended or written by the author to be used, and cannot be used by the recipient, for the purpose of avoiding penalties which may be imposed on the recipient by the IRS. Please contact the author if you would like to receive written advice in a format which complies with IRS rules and may be relied upon to avoid penalties.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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