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CDFA Food and Agriculture Finance Update - March 10, 2020

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CDFA Food and Agriculture Finance Update
March 10, 2020
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CDFA Food & Agriculture Finance Update

Features

TN Bill to Decrease Food Deserts in Low-Income Areas
Legislation to decrease food deserts, specifically in inner cities, overcame its first hurdle in the Senate Commerce and Labor Committee. The Healthy Food Financing Act, sponsored by Senator Todd Gardenhire (R-Chattanooga), would establish a statewide program to increase access to fresh fruits and vegetables in underserved communities.

An Enormous Land Transition is Underway. Here's How to Make it Just.
Today, 8 percent of farms control over 40 percent of all U.S. farmland. The average American farm is now over 400 acres, (compared to 150 acres in 1940) and that number increases every year as smaller farms buckle under the weight of the capital-intensive industrial agricultural model. We need to mobilize more money than the public or private sectors have so far been willing to spend to acquire farmland for collective stewardship.

Seaboard Food Corp. to Invest $100M in Pork Plant in OK
Seaboard Foods Corp. confirmed it is finalizing a $100 million economic development package to upgrade the company's pork processing facility in Guymon, Oklahoma. Under the economic agreement of the Seaboard Project Plan, Guymon Public School District will receive a $220,000 annual payment from incremental revenues generated in the TIF district. Renovations to the city's wastewater treatment facility and lagoons that Seaboard uses will be funded by tax increment notes.

Fresno, CA Microfinance Org Focuses on Loans to Women-owned Businesses
What started as a small microfinance organization in Bangladesh in the 1970s focusing on services for the rural poor has since expanded to more than 2,500 branches worldwide, including its newest location in Fresno, CA. Grameen America focuses on providing low-income women microloans to help establish or expand their businesses, including a lot of food-related startups.

'Farmland Access Hub' Supports Beginner Farmers in Upper Midwest
The Farmland Access Hub helps beginning farmers seeking land in Minnesota, Iowa, and Wisconsin through farmland literacy workshops, in-depth trainings, and specialized technical assistance including consultation with legal and financial advisers.

U.S. Gov. Accountability Office to Investigate Farm Bailout Program
The U.S. Government Accountability Office is opening a review of President Donald Trump's $28 billion bailouts for farmers harmed by his trade war. There are complaints that the money was mismanaged and allocated unfairly. The investigation originated from concerns that the aid program favored large and foreign agriculture companies over small farms.

Upcoming Events
CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: To TIF or Not to TIF?
Tuesday, March 17, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series experts will examine the best strategies local governments and analysts are using to determine appropriate TIF assistance levels.

Intro Tax Credit Finance WebCourse
March 25-26, 2020 - Daily: 12-5pm (Eastern)
The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course discusses the practical application of tax credit programs including brownfields, new markets, low income housing, historic preservation, and state-specific programs.

Food & Agriculture Finance News

MN Dairy Farms Back in Business After Barns Collapse
Ag Week | Mar. 9 | Access to Capital | Agriculture Finance | Legislative

SD Farmers May Be Eligible for USDA Emergency Loans
Aberdeen News | Mar. 7 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | U.S. Dept. of Agriculture (USDA)

MN Expected to Approve $50M in Loan Assistance for Farmers
KFGO | Mar. 6 | Access to Capital | Agriculture Finance | Bond Finance | Legislative

Rural Entrepreneurship Bolstered with Assistance from Business Oregon
Klamath Falls | Mar. 5 | Access to Capital | Economic Development | Food Systems Finance | Rural Development

CO Bill to Expand Instream-flow Loan Program Moves Through Legislature
The Aspen Times | Feb. 29 | Agriculture Finance | Legislative | Revolving Loan Funds (RLFs) | Water Finance

Action to Replenish MN Rural Finance Authority Ag Loans
D Globe | Feb. 26 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

High-Tech Ag Receives $860M from Mission Investors in 2019
Impact Alpha | Feb. 26 | Food Systems Finance

Understanding The Landscape For Black Farmers in GA
WMAZ | Feb. 26 | Access to Capital | Agriculture Finance | Food Systems Finance

El Paso County, TX Approves Healthy Food Grants
KTSM | Feb. 25 | Community Development | Food Systems Finance

MO Farmers Will Have Access to More Loans With Senate Bill
Missourian | Feb. 24 | Access to Capital | Agriculture Finance | Food Systems Finance | Legislative | Revolving Loan Funds (RLFs)

Farm Credit System Reports a Net Income of $5.4B for 2019
Federal Farm Credit Banks | Feb. 21 | Access to Capital | Agriculture Finance | Food Systems Finance

Farm Bankruptcies Are on the Rise
The Sentinel | Feb. 21 | Agriculture Finance | Food Systems Finance

Counting Local Food Consumption: Lessons from VT
Vermont Business Magazine | Feb. 21 | Access to Capital | Agriculture Finance | Economic Development | Food Systems Finance

Carolina Opportunity Funds Chooses BioEconomy Solutions
PR Newswire | Feb. 19 | Access to Capital | Agriculture Finance | Food Systems Finance | Opportunity Zones

Rural America Doesn't Have to Starve to Death
The Nation | Feb. 18 | Access to Capital | Agriculture Finance | Economic Development | Food Systems Finance | Rural Development

Economic Climate Right For Small Business Lending
The Redmond Spokesman | Feb. 15 | Access to Capital | Food Systems Finance

USDA Announces Details of Risk Management Programs for Hemp Producers
U.S. Department of Agriculture | Feb. 12 | Agriculture Finance | Federal | Food Systems Finance

Freight Farms Raises $15M in Series B Funding
Yahoo Finance | Feb. 12 | Access to Capital | Agriculture Finance | Food Systems Finance | Access to Capital\Venture Capital

Unruly Brewing to Begin Canning Thanks to Loan From City of Muskegon
WZZM13 | Feb. 11 | Access to Capital | Food Systems Finance | Local Finance Program | Revolving Loan Funds (RLFs) | Access to Capital\Revolving Loan Funds (RLFs)


CDFA Publications

Food & Social Equity: Detroit's Approach to Financing the Food System
Access to Capital | Agriculture Finance | Food Systems Finance | Local Finance Program
Localized food systems are being developed in communities across the country in order to strengthen local economies, increase entrepreneurship, address social issues, and lessen environmental impacts. At the same time, many places are expanding access to capital and financing programs for those with historically limited access - including people of color, women, immigrants, and low-income populations. During this webinar, supported by the W.K. Kellogg Foundation, we will hear from speakers working in Detroit, Michigan to correct this inequity through the support and financing of food-related businesses and projects.

Economic Recovery and Business Dynamism in Rural America
Agriculture Finance | Economic Development | Rural Development
While the discourse on rural America following the Great Recession has revolved around the resulting lack of jobs and loss of services, the lack of startups and entrepreneurial activity in these communities should not be ignored. Firm growth is a crucial part of economic development, and business creation has been critical in the aftermath of previous recessions. But policies geared toward encouraging startups have not been effective in rural areas, leading to a growing regional divide.

California Rural Infrastructure Finance Guidebook
Access to Capital | Agriculture Finance | Bond Finance | Brownfield Financing | CDFA Original Research | Community Development | Disaster Recovery & Relief | Economic Development | Energy Finance | Food Systems Finance | Green Finance | Housing Finance | Incentives | Infrastructure Finance | Innovation Finance | Local Finance Program | Opportunity Zones | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance | State Finance Program | Tax Credits | Tax Increment Finance (TIF) | Water Finance | Urban Development
CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help build capacity in those areas, as well as move economic development projects forward.


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
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor