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CDFA Food and Agriculture Finance Update - February 8, 2022

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CDFA Food and Agriculture Finance Update
February 8, 2022
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CDFA Food & Agriculture Finance Update

Features

USDA to Invest $1B in Climate Smart Commodities, Expanding Markets, Strengthening Rural America
The USDA is investing $1 billion in partnerships to support America's climate-smart farmers, ranchers, and forest landowners. The Partnerships for Climate-Smart Commodities opportunity will finance projects that create market opportunities for U.S. agricultural and forestry products that use climate-smart practices and include ways to measure and verify greenhouse gas benefits.

National Restaurant Association Pushes to Replenish Restaurant Revitalization Fund
The National Restaurant Association released new survey data highlighting the devastating impact the omicron variant has had so far, and the positive impact the Restaurant Revitalization Fund had on the industry. In a letter to Congress, the Association highlighted that the first round of funding saved more than 900,000 jobs and helped 96% of recipients of a grant stay in business.

Making Rhode Island's Food System More Sustainable and Resilient
Julianne Stelmaszyk, director of food strategy for Rhode Island Commerce, said that over the past decade the state has steadily nurtured a more locally based food system, seeing a marked increase in new and beginning farmers, immigrant food producers entering the field, and aquaculture. Over the past five years, the state has invested more than $25 million in food, farm and fish businesses through grants, small business loans, and tax credits.

D.C. Mayor Bowser Launches New $40M "Bridge Fund" to Support Small Businesses
Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development announced a new $40 million round of the Bridge Fund Grant Program that will provide financial support to brick and mortar businesses grappling with the COVID-19 public health emergency in the restaurant, entertainment, and retail sectors.

USDA Invests $1.4B to Support Rural Businesses and Economies
The funding will help people and businesses in diverse communities and industries throughout 49 states, the Virgin Islands, and Puerto Rico. It will help companies hire more workers and open the door to new economic opportunities for communities and people who have lacked access to critical resources and financing. And it will help entrepreneurs, business cooperatives, and farmers in nearly every state create jobs, grow businesses and find new and better markets.

New Report Recommends Financial Innovations to Accelerate Sustainable Agriculture
The Alliance for Sustainable Agriculture released a new report, Financial Innovations to Accelerate Sustainable Agriculture: Blueprints for the Value Chain, highlighting the need for innovative financial mechanisms and incentive strategies to accelerate the transition to sustainable agriculture. 

Hub for Food Startups Planned in Chicago, IL
The city-owned property will be handed to developer Urban Equities in a $1 sale, officials said. In exchange, the company plans a $4.6 million investment to turn it into Soul City Kitchens, an incubator drawing on interest in food-related ventures along 51st Street between State Street and Dr. Martin Luther King Jr. Drive.

USDA Highlights Key Work in 2021 to Create More and Better Markets
U.S. Secretary of Agriculture Tom Vilsack issued a statement highlighting key accomplishments of the Department of Agriculture in addressing supply chain disruptions the agricultural sector experienced during the pandemic. Secretary Vilsack identified a wide range of improvements that will produce a more diversified food system that more fairly serves farmers, ranchers, and consumers.

Upcoming Events
Intro Bond Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: Analyzing the Impact of COVID-19 Emergency Loan Funds
Tuesday, February 22, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we take a look at some takeaways from the deployment of CARES Act funds and other emergency pandemic response programs, including how communities designed emergency loan funds and what impacts the funds had on small and micro businesses.

Intro Revolving Loan Fund WebCourse
March 28-29, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

Food & Agriculture Finance News

Local Food, Farming Movement Can Alleviate Hunger in New Mexico
Santa Fe New Mexican | Feb. 6 | Access to Capital | Agriculture Finance | Food Systems Finance | State Finance Program

Investing in Food System Improvements
AG info | Feb. 3 | Access to Capital | Food Systems Finance

Chicago, IL Mayor Signs Executive Order to Formalize Food Equity Council
Chicago Office of the Mayor | Feb. 2 | Access to Capital | Community Development | Food Systems Finance | Local Finance Program | Social Finance

USDA Announces Inaugural Federal Advisory Committee on Urban Agriculture
USDA | Feb. 1 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | Urban Development

Funding Approved for Cold Storage Facility in Cleveland, OH
Cleveland.com | Jan. 31 | Access to Capital | Economic Development | Food Systems Finance | State Finance Program

Manchester, NH Initiative Launched to Support Minority-Owned Businesses
NH Business Review | Jan. 30 | Access to Capital | Community Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance

Michigan Prepares to Deploy $237M for Small Businesses Through Loans, VC Fund Investments
MiBiz | Jan. 26 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Revolving Loan Funds (RLFs) | State Finance Program | State Small Business Credit Initiative (SSBCI)

Momentum Builds for New COVID-19 Relief for Businesses
The Hill | Jan. 24 | Disaster Recovery & Relief | Federal | Food Systems Finance | Legislative | COVID-19

Aldi, Marshalls, New Hotel Get Closer to Reality in Alpena, MI
The Alpena News | Jan. 19 | Brownfield Financing | Economic Development | Food Systems Finance | Redevelopment | State Finance Program

Virginia Small Business Resiliency Fund Launches
Inside Business | Jan. 19 | Access to Capital | Community Development | Disaster Recovery & Relief | Food Systems Finance | COVID-19

What Can a New Tax Credit Do for Overtime on New York Farms?
Spectrum News 1 | Jan. 19 | Agriculture Finance | State Finance Program | Tax Credits

Farmworkers Bear the Brunt of California's Housing Crisis
Civil Eats | Jan. 18 | Agriculture Finance | Housing Finance | Rural Development

How FoodLab Chicago, IL Helps South Side Restaurants Weather Pandemic
Chicago Tribune | Jan. 18 | Access to Capital | Community Development | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs)

Bethlehem, PA `Vertical Farm' to Start Growing Crops
WFMZ-TV | Jan. 18 | Agriculture Finance | Brownfield Financing | Economic Development | Food Systems Finance | Redevelopment

Food Lockers Could Combat Hunger in Rural South Dakota Communities
Public Opinion | Jan. 13 | Federal | Food Systems Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

USDA to Invest up to $225M in Partner-Driven Conservation on Agricultural and Forest Land
USDA | Jan. 13 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | Public-Private Partnership (P3) Financing | U.S. Dept. of Agriculture (USDA)


CDFA Resources

Financial Innovations to Accelerate Sustainable Agriculture: Blueprints for the Value Chain
Access to Capital | Agriculture Finance | Bond Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency
The purpose of the report is to equip value chain actors with innovative financial mechanisms and incentive strategies that can be employed in agricultural sustainability projects to support producers in scaling conservation adoption.


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

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor