Accepting Applications for the CDFA Community Facilities Technical Assistance Program
With funding from USDA Rural Development, CDFA has developed an innovative technical assistance approach to support rural communities that have recently experienced a natural disaster. The goal of this program is to help rural communities utilize the USDA's Community Facilities Program along with identifying other potential development finance tools to aid in the rebuild and recovery after a natural disaster. Learn more and apply today!
USDA Launches Food Supply Chain Loan Guarantee Program to Create More Market Opportunities
USDA announced a new $100 million Food Supply Chain Guaranteed Loan Program to make available nearly $1 billion in loan guarantees; these loan guarantees will back private investment in processing and food supply infrastructure that will strengthen the food supply chain. The program is part of the Biden-Harris Administration's efforts to address food system challenges dating back decades and further exacerbated by the COVID-19 pandemic.
Delaware Announces $2M in Funding to Improve Access to Delaware Grown Food
Governor John Carney announced a $2 million investment in seed funding to establish the First State Integrated Food System Program. This new program, which will be developed by the Delaware Council on Farm and Food Policy, will help stabilize and strengthen Delaware's small and mid-sized farmers and local food supply chain operations, among the hardest hit sectors during the pandemic. The funding for this program is provided through the American Rescue Plan Act.
Food Hall Included in Uses for $105M Redevelopment in Milwaukee, WI
A food hall will be among the new uses in the redevelopment of the historic department store in Milwaukee's Bronzeville area. The project, known as ThriveOn King, will also include 89 affordable and market-rate apartments. The project's financing includes commercial loans totaling $48.5 million; $22.5 million in state and federal historic preservation tax credits; $9.4 million in federal affordable housing tax credits; $8.5 million in equity cash, and $3.5 million through a deferred developer's fee.
USDA Awards $90.2M to Strengthen Local and Regional Markets for U.S. Agricultural Products
The USDA announced a $90.2 million investment in 203 projects to strengthen and explore new market opportunities for local and regional food businesses. The funding is made possible through grant programs administered by the Agricultural Marketing Service as part of the Local Agriculture Marketing Program: the Farmers Market and Local Food Promotion Programs and the Regional Food System Partnerships.
San Antonio, TX Food Incubator Stirs Up New Culinary Businesses
The Break Fast and Launch program is a culinary business accelerator by Launch SA, an entrepreneurship center partnership between the City of San Antonio's Economic Development Department and LiftFund, one of the largest microfinance nonprofits in the country. The program was instrumental in launching Alamo Kitchens in 2018. They've worked with over 115 businesses in the program since 2015.
Building Back American Start-Ups Through Tax Incentives
Changes to section 1202 would limit incentives for entrepreneurial start-up founders and their moonshot investors. Those changes, buried in the Build Back Better Act's legislative text, reduce the exclusion of qualified small business stock (QSBS) gain from 100% to 50% for some noncorporate taxpayers that have adjusted gross income exceeding $400,000 during the year in which QSBS is sold. QSBS could transform how restaurants are owned in the United States.
Loan Program Promotes Resiliency for Santa Barbara, CA Farmers and Food Businesses
Two Santa Barbara County organizations have teamed up to connect local farmers, ranchers, fishers, and food artisans with equitable loans to promote resiliency among food businesses and address gaps in the system. The Food System Resilience Loan Program was launched by Santa Barbara County Food Action Network and the Economic Development Collaborative.
Traverse City, MI Real Estate Co-Op Breaks Several Different Molds
Slated to finish construction and open its doors in early 2022, Commongrounds Cooperative will have space for an independent coffee roaster, a local craft distillery, a food hall with a shared commercial kitchen for hourly rental, a childcare facility, a performing arts space, and 24 apartments — 18 of them below-market rate, serving various income levels. But what really makes Commongrounds Cooperative such an atypical project is who owns it and how it was financed.
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