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CDFA Food and Agriculture Finance Update - December 11, 2018

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CDFA Food and Agriculture Finance Update
December 11, 2018
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CDFA Food & Agriculture Finance Update


The Food Trust Launches the MA Food Trust Program
The Massachusetts Food Trust Program (MFTP) provides loans, grants, and business assistance for increasing access to healthy, affordable food in low-income, underserved areas. It was started with seed funding from the Baker-Polito Administration in 2018 and is partnered with numerous state stakeholders.

Lincoln County to Issue Bonds for KY Fresh Harvest Project
Lincoln County will issue industrial revenue bonds for a high technology greenhouse project totaling $12 million. The 30-acre facility will grow niche vegetable items, such as cherry tomatoes, all year round. The bonds are being issued for the purpose of property tax abatement.

RLF a Part of HI's Plan to Double Food Production by 2020
The state has bought land on all of Hawaii's islands to lease out to farmers, is building and enhancing slaughterhouses and is working to attract large producers. Among the incentives: a low-interest revolving loan fund, a feed subsidy for livestock farmers and state grants to help livestock producers reestablish and expand their herds.

How Seed Funding Is Helping Americans Invest in Rural Innovation
Impactful investing that works for both the investor and the business requires extra effort and collaboration across all vested parties. CEI brought their experience, research, and connections together to the Natural Resource Business Seed Capital Fund that has served as a great example for the industry, rural Maine, and investors.

IL Craft Brewery & Distillery Received $650K in Renovation Funds from TIF
The building, which will have pieces of Collinsville history sprinkled throughout, has received a $2.8 million makeover from top to bottom. About $650,000 of renovation funds came from tax increment financing. The final bill for the project has not been tallied, but Whitney Reiser said the projection looks to be on target.

Co-Packer to Build New $5.1M Manufacturing Facility in PA
Tram Bar received a funding proposal from the Department of Community and Economic Development for a $75,000 Pennsylvania First Grant, $90,000 in Job Creation Tax Credits to be distributed upon the creation of new jobs, and $11,700 in WEDnetPA funding to support worker training.

$34M Food & Beverage Incubator Opens in East Garfield Park
A $34 million food and beverage incubator known as "The Hatchery" — with shared kitchens, storage and office space for roughly 100 start-ups — recently opened on what once was a vacant lot at Lake and Kedzie, near the Kedzie station on the CTA's Green Line.

Upcoming Events
Fundamentals of Economic Development Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Understanding Tax Credit Unwinds
Tuesday, December 18, 2018 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, we will hear from expert speakers on how to structure tax credit unwinds for New Markets Tax Credit and Low-Income Housing Tax Credit deals.

Food & Agriculture Finance News

Heads Up, Investors: It's Not All About You
ImpactAlpha | Dec. 11 | Economic Development | Food Systems Finance

Local MN Grocery Store Looks to Co-op Model
Post Bulletin | Dec. 11 | Economic Development | Food Systems Finance

$500K in TIF Funding Awarded to Preserve Italian Restaurant in Historic TX Church
The Waco Tribune | Dec. 11 | Economic Development | Food Systems Finance

Beverage Manufacturer Southern Visions Constructs Production Facility in AL
Area Development | Dec. 11 | Economic Development | Food Systems Finance

NY Public Housing is Home to City's Newest Food Entrepreneurs
NPR | Nov. 30 | Access to Capital | Community Development | Food Systems Finance

Why Food and Flavoring Companies Can't Resist Ohio
JobsOhio | Nov. 15 | Economic Development | Food Systems Finance

Food Drive to Support INTERFACE
Long Island Advance | Nov. 15 | Community Development | Food Systems Finance | Public-Private Partnership (P3) Financing

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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CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
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  • Fifth Third Bank
  • Frost Brown Todd, LLC
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  • Ice Miller LLP
  • KeyBanc Capital Markets
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  • MuniCap, Inc.
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  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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