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NCOSAFP & CDFA Food and Agriculture Finance Update - May 9, 2017

CDFA Food and Agriculture Finance Update
May 9, 2017
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NCOSAFP & CDFA Food and Agriculture Finance Update


New Funding Sources for Food-Related Businesses
This directory, produced by the Michigan State University Center for Regional Food Systems, provides an overview of various sources of financing that may be available to food hubs and other food-related businesses. This directory is a partial listing of what may be available across the United States.

Leopold Center for Sustainable Agriculture Faces Elimination in IA
The Iowa State legislature announced that as part of proposed cuts to fix a $118 million budget shortfall, it would eliminate the Leopold Center for Sustainable Agriculture funding, causing it to shut down almost immediately. The move was surprising, since the center's two main sources of funding—about $1.5 million from a tax on nitrogen fertilizer and $400,000 from the Iowa Board of Regents—had essentially been on autopilot for three decades.

Organic Agriculture Producers to Recover USDA Certification Costs in AL
Growers and handlers of organic agricultural products can recover part of the cost of their USDA certification in AL. The Alabama Department of Agriculture and Industries will be allocating funds from the USDA to reimburse producers and handlers who either obtain or renew their organic certification in the fiscal year that ends Sept. 30.

Greater Yuma EDC Attracts $27.5M Almark Foods Investment
Yuma, Arizona, which Almark called their western "flagship location," will be home to a new 120,000 square-foot building on a 17-acre property Almark purchased from the city in December for about $1.46 million. About 200 total construction jobs will have been created throughout the whole project.

Preserving Agricultural Land in MD Reaping Rewards for Farmers
The State of Maryland and its more rural counties have made efforts to find some balance by providing incentives to farmers for preserving agricultural land and our rural areas. Agriculture still remains an important industry in the State of Maryland, so the State has found ways to encourage and sustain the agriculture industry while providing financial assistance and incentives to farmers to preserve farmland for those important agricultural uses and benefits.

Reinvestment Fund Issues $50M in Impact Investment Bonds
Reinvestment Fund, an S&P AA rated CDFI, announced the pricing of $50 million in general obligation bonds. Proceeds from the Impact Investment bonds will support small businesses, grocery stores, and childcare centers in struggling communities, helping to bring much needed jobs and boost local economic growth.

Muskegon, MI, Food Hub Pilot Project Receives $40K
Muskegon is taking the first bite out of its plans for a food hub that uses rail, highways and the Muskegon Lake deep water port. Efforts will be kick started with a $40,000 grant from the Consumers Energy Foundation, which was presented at the launch event Tuesday. 

Increasing Funding for the Good Food Access Program Would be Good for MN
The Legislature in Minnesota is being asked to fully fund the Good Food Access Program. This is a program that is designed to provide loans, grants and technical assistance to communities lacking access to healthy and affordable food to help them create locally based solutions working in concert with businesses.

Trump Signs Task Force Executive Order for Agriculture Businesses
President Donald Trump signed an executive order that looks to help the US agriculture business by establishing a task force to identify impediments to the business' growth.

WHEDA to Provide Amended Loan Guarantees to Farmers
Eligible dairy farmers will be able to access loan guarantees at more favorable terms than WHEDA's current agricultural loan guarantees. Qualified dairy processors will have access to an 80 percent loan guarantee up to $750,000. Revolving working capital loans offer an 80 percent loan guarantee up to $200,000.

CDFA & OSU Webcast: Using the Successes of Energy Finance to Guide Progress in Food Systems Finance
The CDFA & OSU Webcast was a special one time offering. The webcast covered the Energy Finance Landscape and explored how its successes may be applied to the Food Systems Landscape. This webcast was run by students taking the graduate level Sustainable Financing class in the Department of City and Regional Planning at The Ohio State University.

South FL's Shrinking Agriculture Industry Fights to Stay in the Game
South Florida's crop-growing regions are disappearing due to a number of different factors, causing many farmers to lose large amounts of capital.

Agriculture Growth Drives North Iowa Business Expansion
Continued growth in agriculture production is the driving force behind business expansion in North Iowa. North Iowa agriculture accounts for more than $8 billion in annual total sales and contributes more than 23,000 jobs.

Smart Start Initiative for Food Businesses Supports Waseca Pizza
Beginning this month through the end of the year, 14 businesses in southern Minnesota will get advanced training courses and personal coaches from Southern Minnesota Initiative Foundation. The organization chose the Smart Start participants from a group of applicants who were part of SMIF's other programs for business owners.

CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

Upcoming Events
Intro Food Systems Finance WebCourse

The National Council of State Agricultural Finance Programs provides national representation for states that operate finance programs for farmers, ranchers, and the agricultural industry. Organized in 1984, the NCOSAFP is a non-profit organization that provides a forum for sharing ideas and serves as an information clearinghouse for its member state agencies. The Council provides information about state programs on farm finance issues and legislation developing in Washington, D.C. In addition, the Council is involved in the promotion and support of rural economic development programs. For more information about NCOSAFP, visit www.stateagfinance.org.

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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