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CDFA Food and Agriculture Finance Update - January 14, 2020

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CDFA Food and Agriculture Finance Update
January 14, 2020
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CDFA Food & Agriculture Finance Update


CDFA Legislation to Modernize Private Activity Bonds Introduced in Congress
The Council of Development Finance Agencies (CDFA) is pleased to announce that Representatives Stephanie Murphy (D-FL) and Darin LaHood (R-IL) have introduced the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) in the U.S. House of Representatives as H.R. 5422. MAMBA would modernize the Internal Revenue Code (IRC) as it relates to small issue bonds, specifically the private activity bond rules for first-time farmers and manufacturing bonds.

CDFA Partner, Croatan Institute, Wins Major Award for Soil Wealth
The U.S. Department of Agriculture's Natural Resources Conservation Service (NRCS) awarded $700,000 in funding for a $1.5 million multi-stakeholder initiative led by the Croatan Institute aimed at developing an innovative, place-based financing model to support the adoption of farming systems. CDFA is a project partner and will assist in developing the concept of rural regenerative organic agricultural districts, also known as ROADs, to help agricultural producers and landowners finance soil wealth using land-secured financing mechanisms.

Battling Inequity in Food Systems with Entrepreneurship
Communities benefit from investments in local food systems. And those investments are growing—from large retailers to incubator kitchens, farmers markets, and urban farms— opportunities to create ownership and access centered on fresh food are increasing. Several leadership organizations and initiatives–from large to small–are working to improve access to healthy food and creating economic opportunities in the food system, focusing specifically on communities of color.

Building a Clean Future Can Drive an Additional $8B a Year to Rural Communities
Rural communities face many challenges, and climate change is only making matters worse. This issue brief identifies ways climate policy can address the needs of rural communities by focusing on supporting rural livelihoods; protecting natural lands and farmland from development; and keeping water clean.

USDA Highlights Investments and Accomplishments in 2019
In 2019, the Department collaborated with many partners and invested $28.6 billion to spark business development and create jobs in all 50 states and all U.S. territories. USDA worked to bring high-speed internet capacity, modern community facilities, and upgraded water and wastewater infrastructure to rural areas. USDA helped provide homeownership opportunities and reliable electricity.

Urban Farm Proposed in Milwaukee, WI
A more than $3.1 million project in Milwaukee's near west side would create an urban farm to grow spring mix for salads and basil, and in the process create education and job training opportunities for local residents. Planet to Plate intends to raise money for the project through the federal opportunity zone program, which offers tax breaks to investors supporting projects in low-income areas.

Kraft Heinz Food Investing $25M in Enterprise Zone, Opportunity Zone in Garland, TX
Kraft Heinz Food Company will invest $25 million in an expansion of its Garland, TX operations, and plans to add approximately 250 new full time jobs to its current workforce of 843 employees. Kraft's 266,000-square-foot plant on more than 50 acres of land will positively impact several Enterprise Zones, as well as one Federal Opportunity Zone in Garland.

Nonprofit Aims to Help Local Farmers with RLF
A local lending club has raised $21,000 to bolster its no-interest, revolving loan fund aimed to help local farmers and small scale food producers in Southwest Colorado and Northern New Mexico finance farm and business improvements. Sandhya Tillotson of Four Corners Slow Money said the small nonprofit group raised $11,000 by its Sunday deadline to match a $10,000 matching grant from the Slow Money Institute and an anonymous donor.

Upcoming Events
CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market in 2020
Tuesday, January 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast, hear from our experts as they dive into the data, examine the trends, and offer a preview of the bond market in 2020.

Fundamentals of Economic Development Finance WebCourse
January 29-30, 2020 - Daily: 12:00 - 5:00 PM Eastern
The Fundamentals WebCourse is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.

Food & Agriculture Finance News

NY Gov Proposes Tax Cuts for Small Businesses, Farmers
Bloomberg Tax | Jan. 8 | Agriculture Finance | Legislative | Tax Credits

Seek Business Capital Launches Restaurant Loans Platform
Digital Journal | Jan. 8 | Access to Capital | Food Systems Finance

Reshaping KS Food Tax Policy
The Garden City Telegram | Jan. 6 | Food Systems Finance | Legislative

A High-Interest "Alternative" Farm Lender Benefits from FSA's Market Facilitation Program
New Food Economy | Jan. 6 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance

University of Idaho's Program Provides Financial Assistance to Producers
Idaho State Journal | Jan. 6 | Agriculture Finance | Food Systems Finance

NY Group Proposes Food Tech Incubator in Milwaukee, WI
Business Times | Dec. 30 | Access to Capital | Food Systems Finance

2019 Saw Renewed Leg Focus on Ag Issues in PA
Morrisons Cove Herald | Dec. 27 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Legislative

Local Market Opens, Becoming First New Grocery Store in 6 Years
The Chicago Maroon | Dec. 21 | Food Systems Finance | Tax Increment Finance (TIF)

Reps. Murphy, LaHood Introduce the Modernizing Agriculture and Manufacturing Bonds Act
Florida Daily | Dec. 20 | Agriculture Finance | Bond Finance | Infrastructure Finance | Legislative

IEDA Approves $500K and Tax Benefits for Meat Plant
Sioux City Journal | Dec. 20 | Economic Development | Food Systems Finance | Incentives

Can Mission-Driven Food Companies Scale Up Without Selling Out?
Civil Eats | Dec. 19 | Access to Capital | Food Systems Finance

New Grocery Store Opens in West Dallas, TX Opportunity Zone
Fox 4 | Dec. 18 | Food Systems Finance | Opportunity Zones

Washington DC's Oldest Food Truck Can't Get Financing for Brick and Mortar
WUSA | Dec. 17 | Access to Capital | Food Systems Finance

Downtown Tusla, OK Is One Step Closer to Getting a Grocery Store
8 ABC | Dec. 11 | Food Systems Finance | Tax Increment Finance (TIF)

FRESH Take: Are New York City Grocery Stores Moving Into New Developments?
Commercial Observer | Dec. 10 | Food Systems Finance | Incentives | Urban Development

New Additions to the Online Resource Database

Rural Development Hubs: Strengthening America's Rural Innovation Infrastructure
Access to Capital | Agriculture Finance | Community Development | Rural Development
This report addresses questions often asked by caring people who shepherd resources that could be channeled to advance rural people and places — foundation leaders, individual investors and government officials.

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


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