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CDFA Food and Agriculture Finance Update - May 14, 2019

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CDFA Food and Agriculture Finance Update
May 14, 2019
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CDFA Food & Agriculture Finance Update


Franklin County, OH TIF Deal for La Plaza Tapatia
The first County-Township parcel TIF (tax increment financing) enacted by Franklin County for a new location and expansion of a regional ethnic grocer: La Plaza Tapatia (the Developer), in Franklin Township.

White Paper 2: Food Systems & Access to Capital
Research and written by CDFA, 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 which meet the economic, social, environmental, and cultural needs of communities throughout the country. This paper focuses specifically on financing that provides access to capital, outlining this category of tools and demonstrating how they can be utilized for various types of food-related endeavors.

$21M Culinary and Food Center Opens in MA
A decade-long dream turned to reality when Springfield schools and local officials celebrated the opening of a $21 million, state-of-the-art Culinary and Nutrition Center that will serve 30,000 students daily. The city provided a $14 million bond for the project, with that cost being paid back over the 20-year bond period by the U.S. Department of Agriculture funds, with the financing arrangement described as unique in the country.

$127K TIF Funds Allocated for Toulon, IL Restaurant, Deli, and Fresh Food Mart
The development of a new type of food business in downtown Toulon has taken a big step forward with the City Council's approval of $127,500 from tax increment financing. That commitment, together with at least $20,000 from private investors and an anticipated $130,000 small business loan, should enable the purchase and renovation of a building for the combination restaurant-deli-fresh food mart.

USDA Releases Farm Bill Updates, Loan Limit Increases
The USDA said it is making progress on implementing several provisions within the Farm Bill, as well as offering higher limits for borrowers in the USDA's farm loan program. These loans can be used to purchase farms or cover operating expenses. As natural disasters, trade disruptions and persistent pressure on commodity prices continue to impact agricultural operations, farm loans become increasingly important to farmers and ranchers, 

NY Farm to Food Bank Tax Credit Aims to Help Those in Need
In short, the bill allows New York farmers to claim up to $5,000 annually through a refundable tax credit equal to 25% of the wholesale value of their donations to emergency food programs. This credit will help cover the steep costs associated with harvesting, processing, and transporting crops, making donations a viable option for New York farmers—and getting more fresh food to hungry New Yorkers.

Financing the Aquaculture Revolution
As the fastest growing food production sector in the world, aquaculture accounts for 50 percent of the world's fish consumption. According to a recent analysis, the aquaculture market was valued at $176 billion in 2017, with an annual growth of 5.8 percent. Yet, aquaculture businesses face the added challenge of attracting investments into a relatively young sector.

Orchard Farm Uses Tax Credits for Solar Installation
Bishop's Orchards solar project is the largest Connecticut farm energy project undertaken to date. Bishop's Orchards used federal tax credits and a recent U.S. Department of Agriculture Rural Energy For America (REAP) grant to pay for its solar project. REAP provides financial assistance to agricultural producers and rural small businesses in America to purchase, install, and construct renewable energy systems.

Green New Deal for Farming: Address Climate Crisis and Revitalize Food System
The New Deal helped farmers survive the Great Depression and feed our nation while restoring farmlands and soil. The Green New Deal can do even better: restoring our climate and food system resiliency by regenerating soil and biodiversity while ensuring fair prices, economic viability and family-sustaining livable wages for the people who bring food to our tables.

Economics in Brief: A Co-Op Grows in a Food Desert
The Community Grocery Cooperative is working to open a co-op somewhere in D.C.'s east-of-the-river neighborhoods, DCist reports. This region has been historically marginalized and, despite having 150,000 residents, has only three of the city's 49 grocery stores.

More IA Farmers Face Financing Trouble
Dozens of Iowa farmers may be unable to get operating loans to buy seed, pay rent or make tractor payments this year, a sign of the growing cracks in the state's ag economy. Nearly 3 percent of Iowa farm borrowers will be unable to get renewed financing, the Chicago Federal Reserve said in February, based on a survey of lenders.

Upcoming Events
CDFA Summer School

Intro Housing Finance WebCourse
May 22-23, 2019 - 12:00 - 5:00 PM Eastern

Food & Agriculture Finance News

PA Senate Dems Introduce Elements of PA Farm Bill
BCTV | May. 9 | Access to Capital | Agriculture Finance | Food Systems Finance | Tax Credits

Trump Administration to Support Community Revitalization, Local Food Initiatives
U.S. EPA | May. 7 | Agriculture Finance | Community Development | Economic Development | Food Systems Finance

USDA TN Farm Services Agency Offers Farm Loans
Overton County News | May. 7 | Access to Capital | Agriculture Finance | Food Systems Finance

EPA Announces 2019 Local Foods, Local Places Communities
U.S. EPA | May. 7 | Agriculture Finance | Food Systems Finance | U.S. Environmental Protection Agency (EPA)

Finance Committee Advances Farmer "Legacy" Tax Credit Measure in PA
Ellwood City | May. 2 | Agriculture Finance | Food Systems Finance | Tax Credits

Ohio State and Food/Ag Researchers Launch $2M Food System Project
Richland Source | May. 2 | Agriculture Finance | Food Systems Finance

Farmers Markets Head into Peak Season with Farm Bill Uncertainty
Politico | May. 1 | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Ag Manufacturing Firms Hit Hardest by Tariffs
The Hill | Apr. 29 | Agriculture Finance | Economic Development | Food Systems Finance

How a Food Hub is Making Cleveland, OH into a Food Mecca
Honeycomb Credit | Apr. 26 | Access to Capital | Crowdfunding | Food Systems Finance

Impact Investment Model Ushers in a New Era for Farmers
Stanford Social Innovation Review | Apr. 25 | Access to Capital | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

CDFA Releases 2019 Policy Agenda
CDFA | Apr. 25 | Access to Capital | Agriculture Finance | Bond Finance | EB-5 Visa | Energy Finance | Legislative | Tax Credits

TX Farmers Market to Launch Online Store
KXXV | Apr. 25 | Agriculture Finance | Food Systems Finance

Food and Housing Community Idea for Bellingham, WA Waterfront
The Bellingham Herald | Apr. 25 | Community Development | Economic Development | Food Systems Finance | Housing Finance | Opportunity Zones

State Funding Will Support Hydroponic Greenhouse in Snyder County, PA
PA DCED | Apr. 24 | Food Systems Finance | State Finance Program

Small Ag Banks Mitigate Risk in Rising Farm Loan Demand
Successful Farming | Apr. 22 | Access to Capital | Agriculture Finance | Food Systems Finance

Arable Capital Partners is Scouting the Next Opportunity in Ag
425 Business | Apr. 16 | Agriculture Finance | Food Systems Finance

How Blockchain Can Change the Food Industry
Food Dive | Apr. 16 | Agriculture Finance | Food Systems Finance

Could Latinx Farmers Make the Food System More Sustainable?
Civil Eats | Apr. 15 | Agriculture Finance | Food Systems Finance

USDA 2017 Ag Census
USDA | Apr. 11 | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Food Hall Receives Loan from Economic Development RLF
The Journal Record | Apr. 9 | Access to Capital | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs)

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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