We Want to Hear from You! Help Identify Financing Tools for Missing Middle Housing
This year's class of CDFA Franzini Fellows is researching the various financing tools available for missing middle housing, affordable housing, and in particular, pocket neighborhoods. The Fellows are interested in learning about housing financing tools, as well as barriers and solutions to access to capital. By taking just a few minutes to complete this survey, you will lend your experience and industry knowledge to aid in the creation of systems and action plans that can be used for both developers and new homeowners. Thank you for your participation!
New Investment Fund Helps Social Impact Businesses in Underserved Communities Grow
Traditional financing options don't meet the needs of most small businesses. Momentus Capital has tested a new impact investment approach to support growth-stage, social-impact businesses in underserved communities. The organization's $171 million impact investing fund, the Equitable Prosperity Fund, provides purpose-driven businesses with non-dilutive capital so business owners can keep full ownership of their companies.
Join CDFA for Our Upcoming Intro Tax Credit Finance Course
Register for CDFA's Intro Tax Credit Finance WebCourse, taking place on September 25-26. Join us to learn about the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs, including new markets, low-income housing, historic preservation, and state-specific programs.
Cleveland, OH Food Hub Wins $10M in Tax Credits
Cleveland Development Advisors has allocated $10 million in federal New Markets Tax Credits to Cleveland Kitchen to consolidate and expand its production facility in the Central Kitchen Food Hub. The hub is a food incubator and accelerator on Carnegie Avenue in Cleveland's Midtown neighborhood. The expansion resulting from this investment is intended to create 80 new permanent jobs and retain 45 positions in Cleveland, OH.
Unlock Funding Opportunities: Join Our Greenhouse Gas Reduction Fund Readiness Workshop!
Join CDFA for an exclusive online workshop that will dive deep into the Greenhouse Gas Reduction Fund (GGRF) and its pivotal components, including the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA). The GGRF Readiness Workshop will equip you with the knowledge and tools needed to navigate and leverage these significant funding opportunities effectively. Don't miss out on the chance to enhance your funding strategy and boost your project's success!
Solar Projects on Salem, OR-Area Farms Get Federal Backing
Three Salem-area farms and a local community solar project have received nearly $4 million in federal loans and grants to support renewable energy investments. The investments are meant to help farmers, ranchers, and rural small businesses adopt renewable energy technologies, conduct energy audits, and cut down on costs and pollution. The largest chunk of money is a loan from the U.S. Department of Agriculture's Rural Development Rural Energy for America Program and is worth $3.2 million. Additional grants will help farms set up solar infrastructure replacing 100% of their energy use with renewable electricity.
Updated Farm Loan Programs to Increase Financial Opportunities for Agricultural Producers
The U.S. Department of Agriculture announced changes to the Farm Service Agency's Farm Loan Programs, effective Sept. 25, 2024 — changes that are intended to increase opportunities for farmers and ranchers to be financially viable. These improvements, part of the Enhancing Program Access and Delivery for Farm Loans rule, demonstrate USDA's commitment to improving farm profitability through farm loans designed to provide important financing options used by producers to cover operating expenses and purchase land and equipment.
Dirt Capital Hits $30M Close for Impact-First Farmland Fund Along Pathway to $50M
Dirt Capital Partners, a real asset impact investment company with a unique focus on improving farmer access to land, has raised more than $30 million upon the third close of its latest impact first farmland fund. Investors include the Schmidt Family Foundation, Cienega Capital, The Woodcock Foundation, DF Impact Capital, Blue Sky Social Justice Fund, High Impact Fund I LP, The Mighty Arrow Family Foundation, and others. The fund is targeting a final close of $50 million at the end of the year.
Illinois IL-EATS Program Expands Market Opportunities for Farmers
Some Illinois farmers are seeing new market growth with Illinois Equitable Access Towards Sustainable Systems (IL-EATS), a grant program through the Illinois Department of Agriculture and Illinois Department of Human Services. IL-EATS, funded by the U.S. Department of Agriculture (USDA), was established to boost statewide food systems over two years. Nearly $29 million in grant funding was allocated for distributing free, locally-produced food in Illinois.
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