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CDFA Food and Agriculture Finance Update - September 10, 2019

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CDFA Food and Agriculture Finance Update
September 10, 2019
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CDFA Food & Agriculture Finance Update

Features

CDFA Food Finance White Paper Series: Food Systems & Targeted Tools
This white paper is part of a series examining the potential creation of a food systems asset class which supports the market growth of local and regional food systems. This paper focuses specifically on targeted financing tools that can be used to geographically target local and regional food system developments.

Shared Kitchen Toolkit
This Toolkit is intended for everyone from kitchen entrepreneurs to startup nonprofits, from economic development agencies to producer networks, from food system groups to real estate developers. We hope this Toolkit also provides helpful guidance to existing food businesses and community kitchens (churches, community centers, schools and food access program kitchens) who seek to share their commercial kitchen space with entrepreneurs and food programs as an ancillary use.

Santa Fe, NM Issues $18M in Industrial Revenue Bonds for Food Processing Plant
The Santa Fe City Council has approved a resolution declaring its intent to issue $18 million in industrial revenue bonds to help fund a $27 million state-of-the-art high pressure food processing plant. The bond funding would be used for the "acquisition, construction, renovation, equipping and installation" of the plant, which would be located in an Opportunity Zone.

A Greenhouse Large Enough to Feed the Eastern Seaboard
Next summer, when AppHarvest begins production at its $97 million building, 285 employees will start shipping 45 million pounds of fresh produce annually, primarily tomatoes, to grocery stores from Atlanta to New York, and as far west as Chicago and St. Louis. The 60-acre, 2.76-million-square-foot building will be big enough to lower costs on materials, production, and distribution.

CA Issues $73.7M in Green Bonds for Rice Waste Recycling Plant
California State Treasurer Fiona Ma has announced that $73.7 million in tax-exempt green bond financing has been issued for CalPlant I, LLC, a company that will turn rice straw into medium density fiberboard at its Willows plant in the Sacramento Valley. The fiberboard can be used in manufacturing flooring, furniture, doors, shelves and other products.

Culture Fresh Foods Closes on $11M of Early Stage Venture Capital
Culture Fresh Foods today announced it has completed an $11 million Series A round of financing. The investment will enable the company to reimagine and restart a former Danone-owned milk-based dairy as a new plant-based processing facility. CEI Ventures' colleagues at CEI Capital Management worked with Moffitt to use New Market Tax Credits for financing the construction of that dairy processing plant.

AK's Mariculture Growth Lead By Seaweed and Shellfish
Underwater and out of sight are the makings of a major Alaska industry with two anchor crops that clean the planet while pumping out lots of cash: shellfish and seaweed. An early obstacle for aspiring Alaska growers is financing although the state's revolving loan fund has made its first loan for a kelp farm.

RFP for National Good Food Network Conference
The 2020 National Good Food Network Conference will bring together over 450 practitioners and experts from across the good food value chain to strengthen our collective commitment and develop our professional skills. All session proposals are due Friday, September 27th, 2019 at 11:59 ET.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Fill In The Gaps with New Markets Tax Credits
Tuesday, September 17, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, learn from expert speakers as they discuss their plans for the recent allocation of New Markets Tax Credits, past projects, and best practices.

Food & Agriculture Finance News

U.S. Banking Regulator Says Watch Farm Lending Risk
Reuters | Sep. 9 | Access to Capital | Agriculture Finance | Food Systems Finance

NCUA Charters Maine Harvest Federal Credit Union
National Credit Union Administration | Sep. 9 | Access to Capital | Agriculture Finance | Food Systems Finance

CrowdBureau Secures $1.1M Through Series A Funding Round
Crowdfund Insider | Sep. 6 | Access to Capital | Agriculture Finance | Crowdfunding | Food Systems Finance

Wells Fargo Launches National Food, Beverage, & Agribusiness Group
ABL Advisors | Sep. 6 | Access to Capital | Agriculture Finance | Food Systems Finance

Cooks Venture Raises $12M to Develop Ag Tech Regenerative Agriculture Systems
PR Newswire | Sep. 5 | Access to Capital | Agriculture Finance | Food Systems Finance

Capital Impact Partners Is Amplifying Assets to Achieve Justice for Underinvested Communities
PR Newswire | Sep. 4 | Access to Capital | Community Development | Food Systems Finance | Housing Finance

MN Beginning Farmer Tax Credit Deadline Approaching
Lakefield Standard | Aug. 28 | Agriculture Finance | Food Systems Finance | Tax Credits

Reinvestment Fund Awards $1.8M to Improve Healthy Food Access
PR Newswire | Aug. 27 | Access to Capital | Agriculture Finance | Food Systems Finance

Lending to Farmers of Color and Women: Trends and Barriers
National Sustainable Agriculture Coalition | Aug. 27 | Access to Capital | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Growing the Local Foods Economy
Fillmore County Journal | Aug. 26 | Access to Capital | Agriculture Finance | Food Systems Finance

Winnebago, NE Farmers' Market Building Financed through NMTCs, USDA Grants
KTIV NBC 4 | Aug. 22 | Food Systems Finance | Tax Credits | U.S. Dept. of Agriculture (USDA)

Agriculture Investing in Opportunity Zones
Opportunity Db | Aug. 21 | Agriculture Finance | Food Systems Finance | Opportunity Zones

Hazel Technologies Closes $13M Series B Financing
PR Newswire | Aug. 20 | Access to Capital | Agriculture Finance | Food Systems Finance

USDA Invests in Energy Efficiency Improvements to Help Farmers and Rural Businesses
USDA | Aug. 19 | Agriculture Finance | Energy Finance | Federal | Food Systems Finance | Green Finance | U.S. Dept. of Agriculture (USDA)

USDA Defers Accrual Interest to Assist Farmers and Ranchers
USDA | Aug. 15 | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Food System 6 Accelerator Accepting Applications Now
PR Underground | Aug. 14 | Access to Capital | Agriculture Finance | Food Systems Finance

University of Iowa Receives $1.07M for Water Quality from EPA
EPA | Aug. 14 | Access to Capital | Agriculture Finance | Food Systems Finance | U.S. Environmental Protection Agency (EPA) | Water Finance



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
info@cdfa.net

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CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • Petros PACE Finance
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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