GLIN==> GLIN - Ecosystems Resotaration Financing Project - Northeast-Midwest Institute

Northeast-Midwest Institute has recently completed the "Great Lakes
Environmental Restoration Financing" project, funded by the Great Lakes
Protection Fund.

 

A series of documents have been posted at:
http://www.nemw.org/greatlakes.htm#financing

The reports from this project are:

*	"Innovative Financing for Great Lakes Environmental Restoration,
Concepts for Tying Waterfront Development to Environmental Restoration
and Funding the Non-Federal Match for Great Lakes Legacy Project"
<http://www.nemw.org/Innov_Financing_GL_Dec08.pdf> , November, 2008. 
*	"The Cleanup War Chest: State Bond Financing for Environmental
Initiatives and Brownfields Redevelopment"
<http://www.nemw.org/CleanupWarChest.pdf> , November, 2008. 
*	"Creative Financing for Great Lakes Environmental Restoration,"
<http://www.nemw.org/Creative_fin_GL.pdf>  presentation to the Great
Lakes Commission AOC Conference", July, 2008. 
*	"Waterfront Remediation and Restoration Financing Summit:
Summary, Notes, and Recommendations"
<http://www.nemw.org/Waterfront_RRF_Summit.pdf> , July 23, 2008. 
*	"Baseline Study: Opportunities for Financing Great Lakes Cleanup
and Ecosystem Restoration", December, 2006
<http://www.nemw.org/opportunities%20for%20Fin%20GL%20Cleanup.pdf> .
Report describes the potential finance sediment cleanup and
environmental restoration using vehicles such as, Clean Water State
Revolving Funds, water and sewer authorities, port authorities, and
state bond issues. 

State and Local Financing for Sediment Cleanup - Notable Examples:

*	Ashtabula River Legacy Project
<http://www.epa.gov/glla/ashtabula/index.html>  - 50 percent of Funds
Channeled through Ashtabula Port Authority. 
*	Wisconsin Bond Issue for Contaminated Waterway Sediment Program
<http://www.dnr.state.wi.us/environmentprotect/cs/sediment.html>  - is
being used for the Kinnickinnic River Cleanup
<http://www.epa.gov/glnpo/sediment/legacy/kk/kk_glla_start.pdf> . 
*	Clean Michigan Bond Issue- $25 million Designated for
Contaminated Sediments
<http://www.michigan.gov/deq/0,1607,7-135-3307_31116---,00.html>  -
Legacy projects that have received Clean Michigan Funding include: Black
Lagoon
<http://www.epa.gov/glnpo/sediment/legacy/blklagoon/bl_factsheet01.pdf>
; Ruddiman Creek
<http://www.epa.gov/glnpo/sediment/legacy/ruddiman/ruddfctsht.pdf> ; and
Tannery Bay
<http://www.epa.gov/grtlakes/sediment/legacy/tannery/tannerybayjuly2006.
pdf> . 
*	Rouge River National Wet Weather Demonstration Project
<http://www.rougeriver.com/geninfo/rougeproj.html>  - provides potential
model for water and sewer authorities to expand their purview to
ecosystems restoration and sediment cleanup. 

New Revenue Concepts to Finance Environmental Bond Issues:

State Impervious Surface Tax

*	Maryland Green Fund Proposes Impervious Surface Tax
<http://www.cbf.org/site/DocServer/Green_Fund_fact_sheet.pdf?docID=7483>
. 

Transfer Tax Surcharge

*	Long Island Authorized by New York Legislature to add two
percent to Transfer Tax to Protect Estuarine Resources, Groundwater
Quality and Historic Properties
<http://www.epa.gov/nep/fundexamples.htm#peconic> . 

Federal Tax Credit Bonds in Selected "Watershed Restoration Zones"

*         "Two New and Innovative Financing Programs to Restore The
Health of The Great Lakes"
<http://www.nemw.org/two_innov_fin_programs_GL.pdf> , Bricker & Eckler
LLP, Robert W. Baird & Co., The Implementation Group, April 2008.

State Laws and Programs that use Tax Increment Financing and Special
Assessment District Programs for Environmental Purposes:

*	Florida Everglades Ecosystems Restoration Financed through
16-county Property Tax Surcharge, Generates $525 million for FY 2009
<https://my.sfwmd.gov/pls/portal/docs/PAGE/PG_GRP_SFWMD_ABOUTSFWMD/PORTL
ET_BUDGETSTRATPLAN/TAB2234118/BUD_BRIEF_2009.PDF> . (see also: Ad
Valorem Tax Leverages Bond Funds for Ecosystems Restoration
<http://www.tampachamber.com/ci_viewnews.asp?id=1098> . 
*	Michigan - 2008 "Inland Lakes" Authorized to use TIF to
Implement "Water Resource Improvements"
<http://www.legislature.mi.gov/(S(2jmwjy55gwnhc455x1dxsw45))/mileg.aspx?
page=getObject&objectName=2007-SB-0047> . 
*	Michigan Brownfields Redevelopment Authorities use TIF for
Brownfields Cleanups
<http://www.michigan.gov/deq/0,1607,7-135-3311_4110_23246---,00.html> . 
*	Michigan Special Assessment Districts used for Dredging and
Maintaining Inland Lakes
<http://www.bloomfieldtwp.org/Services/EES/Environment/LakeBoards/Inland
Waters.pdf> . 

Examples of Sediment Cleanup Being Linked to Land-Side Development:

Examples Motivated primarily by Regulatory Compliance

*	San Diego Convention Hotel linked to $30 million Sediment
Cleanup
<http://www.signonsandiego.com/news/metro/20030811-9999_1m11clean.html>
. 
*	Redevelopment of the GE Site on the Housatonic River linked to
$70 million Sediment Cleanup <http://www.nemw.org/SedimentReport.pdf> . 

Portfields - Integration of Sediment Cleanup with Port Plans 

*	New Bedford, Massachusetts Portfields Plan links sediment
cleanup and port Revitalization (see also: NOAA-Brownfields Website
<http://response.restoration.noaa.gov/topic_subtopic_entry.php?RECORD_KE
Y%28entry_subtopic_topic%29=entry_id,subtopic_id,topic_id&entry_id(entry
_subtopic_topic)=719&subtopic_id(entry_subtopic_topic)=16&topic_id(entry
_subtopic_topic)=3> ). 
*	Bellingham, Washington Portfields Community Consensus Plan Links
Sediment Cleanup with Revitalized Port
<http://www.ogc.doc.gov/ogc/legreg/testimon/107f/kennedy0719.htm> . 

Projects that use Tax Increment Financing and Special Assessment
Districts Financing for Environmental Benefit:

*	Portland, Maine uses TIF for CSO Project as Integral to Port
Plan <http://www.portofportland.com/T4_EA_Home.aspx> . 
*	Yonkers Mixed Use Redevelopment uses $35 million of $160 Million
TIF for Daylighting a River <http://www.sfcyonkers.com/> . 
*	Everett, Washington Project Using $12 Million TIF For Trails,
Parks, and to Restore Wetlands and Habitat
<http://www.heraldnet.com/article/20070924/NEWS01/709240022/0/column07>
, (see also: http://www.ci.everett.wa.us/CityNews.aspx?ID=1&nID=613). 

We would be very interested in feedback on any of the above.

 

 

Evans Paull, Senior Policy Analyst

Northeast Midwest Institute

50 F Street, NW

Washington, DC 20001

202-464-4004

202-329-4282 (cell)

fax 202-544-0043

epaull at nemw.org

www.nemw.org 

http://www.nemw.org/brownfields.htm

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