CDFA Announces Second Grant Award from the W.K. Kellogg Foundation
Columbus, OH – The Council of Development Finance Agencies (CDFA) has received a second round of funding from the W.K. Kellogg Foundation (WKKF). This funding will continue to advance opportunities and leverage existing capital financing streams that scale local and regional food systems and increase access to better food while creating new living wage jobs in communities across the country.
MI Approves $2.27M in Financing for Detroit's Eastern Market Food Hub
The Michigan Strategic Fund on Wednesday approved $2.27 million in brownfield financing to support the $24.1 million renovations of a former Detroit Water and Sewerage Department building in Eastern Market into a mixed-use food hub. The financing is part of $3.7 million in local and state tax capture for the brownfield site. It includes a 12-year, $1.47 million tax abatement from the city of Detroit.
Co-op Grocery in Dayton, OH Closes on Financing
CityWide Development Corporation announced that Gem City Market had received its New Market Tax Credits. The co-op, Gem City Market, is intended to bring fresh and healthy food to a food desert. Store organizers have been holding community meetings and seeking to make the market more than a grocery store, with plans for a teaching kitchen, nutrition classes and wellness programming, a mini-clinic, cafe, and community room.
Three Unique Detroit, MI Brownfield Projects Are Moving Forward
Three unique Detroit residential and commercial development, including a new "food hub" in Eastern Market, received key approvals for millions in incentives and public subsidies from the Michigan Strategic Fund.
GA DFA Supports Incentives for Food Desert Development with Grocery
By an 8-1 vote, the Development Authority of Fulton County gave the preliminary OK for a property tax break worth $5.5 million. The property taxes on the new development would otherwise have helped build the BeltLine and underwrite other developments along the trail. The community wants a grocery store and will not do the project without a grocery store. The developers will pay for some public improvements, like traffic signal and road work. But in response to a question about the need for an incentive.
Flexible Capital Fund Invests in VT Farm Products, Food and Forestry
Flexible Capital Fund is a Montpelier-based impact investment company with a mission of aiding small businesses in the sectors of food, farm and forest products, clean energy, and clean technology. Read more about their approach to financing food system development in a Q&A with President Janice St. Onge.
Capital Access Group Helps Secure $11.5M SBA 504 Loan for Paper Goods
Capital Access Group, a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, recently helped Maple Trade Corporation, a wholesaler of "to-go," eco-friendly, plastic and paper food storage containers, buy its own building as it expands operations in the U.S. Capital Access Group worked with Maple Trade to secure $11.5 million in financing to purchase the 53,413-square-foot warehouse located at 2851 McCone Avenue, Hayward, CA.
Join CDFA at the National Good Food Network Conference March 10-13 in New Orleans, LA
The 2020 National Good Food Network Conference will take place at the Intercontinental Hotel New Orleans in New Orleans, LA from March 10-13, 2020 and will bring together over 400 food systems leaders from across the Good Food value chain to share expertise, strengthen organizational capacity, and offer space to connect with peers from across the country.
|