About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Food and Agriculture Finance Update - March 9, 2021

Having trouble viewing this newsletter? View it online.
CDFA Food and Agriculture Finance Update
March 9, 2021
Subscribe
View Archives
CDFA Food & Agriculture Finance Update

Features

Announcing the 2021 CDFA Food Systems Finance Webinar Series
CDFA is excited to announce the 2021 CDFA Food Systems Finance Webinar Series! This is a free online series showcasing how traditional development finance tools – such as bonds, tax increment finance, tax credits, revolving loan funds, and more – are being used to support equitable local and regional food system development. Each installment will explore how the development finance toolbox is used to generate investment for different focus areas, food-centered redevelopment, fintech, entrepreneurs, and more.

New Stimulus Bill Includes $29B in Direct Restaurant Aid
A landmark COVID-relief bill earmarking $28.6 billion in direct aid to restaurants is heading for quick ratification in the House of Representatives and then on to President Biden's desk. The version of the $1.9 trillion American Rescue Plan Act passed by the Senate bumped up the funds reserved for restaurants by about $3.6 billion and calls for distributing the money in grants of up to $5 million for restaurants in need, or $10 million to operations with multiple locations.

Black Farmers May Finally Get the Help They Deserve
With support from the USDA, the Emergency Relief for Farmers of Color Act, which would provide direct relief payments to help socially disadvantaged farmers pay off loan debts, with some provisions from the Justice for Black Farmers Act, was incorporated into the COVID relief bill. It now includes $4 billion for direct relief payments that will help farmers of color recover from the pandemic and pay off their USDA farm loan debts, along with $1 billion to be used in part for addressing the longstanding inequality in access to USDA programs.

Bipartisan Bill Introduced to Increase Access to Healthy Foods, Eliminate Food Deserts
U.S. Sen. Mark R. Warner (D-VA), joined by Sens. Jerry Moran (R-KS), Bob Casey (D-PA), and Shelley Moore Capito (R-WV), introduced the Healthy Food Access for All Americans (HFAAA) Act. The legislation aims to expand access to affordable and nutritious food in areas designated as "food deserts" by the USDA. It would grant tax credits or grants to food providers who service low-access communities and attain a "Special Access Food Provider" (SAFP) certification through the Treasury Department.

Legislation Introduced to Expand & Strengthen Local Meat Processing Capabilities
Reps. Chellie Pingree (D-Maine) and Jeff Fortenberry (R-Neb.), joined by Sens. John Thune (R-S.D.) and Jeff Merkley (D-Ore.), introduced bipartisan, bicameral legislation to support small meat and poultry processors. The Strengthening Local Processing Act will increase options for local livestock and poultry producers and assist smaller facilities as they adapt to the COVID-19 pandemic and expand to meet consumer demand.

New Mexico Signs Two Pandemic Recovery Bills Into Law
Gov. Michelle Lujan Grisham signed into law two new stimulus measures, authorizing a fresh round of financial relief for New Mexico low-income workers, restaurants, and small businesses. The bill authorizes a four-month tax holiday for restaurants, breweries, food trucks, and other dining establishments. The tax holiday would technically be a gross receipts tax deduction for restaurants, allowing them to retain tax payments.

How a Food Business Incubator is Building Black Economic Strength in Minnesota
Gene Gelgelu made a down payment on a building in St. Paul, Minnesota, accomplishing two goals: combating gentrification in the increasingly popular Hamline-Midway neighborhood and laying the first steps of what will become the Little Africa Market and Food Business Incubator. African Economic Development Solutions — a nonprofit dedicated to building wealth in African immigrant communities — is one of the 20 organizations from around the country that received a total of $3 million in grant money from the Healthy Food Financing Initiative (HFFI).

How Biden's New PPP Guidelines Could Help Small Restaurants Qualify for More Aid
President Joe Biden announced that he'd be tweaking the Paycheck Protection Program in an effort to target underserved borrowers, independent contractors like food delivery workers, and struggling solo-proprietors. This policy shift comes as a Small Business Administration report shows that while aid is now being distributed more equitably than previously — with the hard-hit hospitality industry benefiting in particular — stark disparities still exist.

Eastern Iowa Meat Processors Awarded TIF, Tax Benefits for Planned Expansions
The Iowa Economic Development Authority Board has awarded tax benefits to two Iowa meat processing companies that plan to expand to help meet the increasing demand for locally sourced products. Building projects planned by the two companies represent more than $18.6 million in capital investment and create 63 jobs, nearly half of which will pay over $17 an hour.

Upcoming Events
Intro Tax Increment Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Social Justice and the Muni Markets
Tuesday, March 16, 2021 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we'll discuss strategies for aligning social justice priorities with bond financing and actions in the muni markets.

CDFA Rural Development Finance Webinar Series: Financing Disaster Resiliency in Rural Communities
Tuesday, March 23, 2021 - 2:00 PM - 3:00 PM Eastern
During the first installment of the CDFA Rural Development Finance Webinar Series, hear about a new technical assistance program from CDFA designed to support rural communities that have recently experienced a natural disaster. Experts will discuss the variety of financing tools available from federal, state, and local sources to encourage investment in resilient infrastructure.

Food & Agriculture Finance News

North Carolina Nonprofits Affected by Tropical Storm Eta Eligible for SBA Loans
WXII 12 | Mar. 8 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | U.S. Small Business Administration (SBA)

How New York Is Allocating Its $100B in Relief Funding
WKTV | Mar. 8 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits | COVID-19

Farm Credit Associations Join Together to Support Texas Winter Storm Relief
Glove Newswire | Mar. 5 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief

Microloans Help Minnesota Small Town Businesses Stay Open
The Free Press | Mar. 4 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development | COVID-19

What Small Businesses Need to Know About 2021 COVID-19 Relief Packages
Bloomberg Tax | Mar. 3 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | COVID-19

Biden-Harris Administration's Actions to Reduce Food Insecurity Amid the COVID-19 Crisis
USDA | Mar. 3 | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19

Agriculture Disaster Funds Get Cut in House Coronavirus Aid Bill
Progressive Farmer | Mar. 2 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Legislative | COVID-19

Anchor Packaging Starts $21.5M Expansion
Arkansas Business | Mar. 2 | Food Systems Finance | Rural Development | Tax Credits

Urban Agriculture Zones Established for Regions in Indiana
NWI Times | Feb. 27 | Agriculture Finance | Community Development | Food Systems Finance | State Finance Program | Tax Credits

House Passes American Rescue Plan, Including $25B in Restaurant Relief
Nation's Restaurant News | Feb. 27 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Legislative | COVID-19

Kansas Law Creates Tax Exemption for Interest Income on Ag Real Estate Loans
ABA Banking Journal | Feb. 26 | Agriculture Finance | Revolving Loan Funds (RLFs) | Rural Development | State Finance Program | Tax Credits

Loan Approved for Cold Storage Expansion in Vineland, NJ
Vineyard Daily Journal | Feb. 26 | Food Systems Finance | Revolving Loan Funds (RLFs)

New Agriculture Secretary Brings To-Do List
Successful Farming | Feb. 24 | Agriculture Finance | Federal | Rural Development | U.S. Dept. of Agriculture (USDA)

Ag Groups Call for PPP Changes
Progressive Farmer | Feb. 24 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Legislative | COVID-19

Kansas Gov. Kelly Forgives $5M in COVID-19 Hospitality Business Loans
KSNT | Feb. 23 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | State Finance Program | COVID-19

Ohio Agriculture Legislation Moving Forward
Ohio's Country Journal | Feb. 22 | Agriculture Finance | Energy Finance | Rural Development | State Finance Program | Tax Credits

Progress Made on Crumb Bakery at the Model Mill Site in Johnson City, TN
Johnson City Press | Feb. 18 | Food Systems Finance | Tax Increment Finance (TIF)

Farmland Partners Launches Strategic Partnership Targeting Farmland Investments in Qualified Opportunity Zones
Yahoo Finance | Feb. 16 | Food Systems Finance | Opportunity Zones

Strongest Farm Outlook in Years, Say Ag Bankers
Fern's Ag Insider | Feb. 15 | Agriculture Finance | Disaster Recovery & Relief | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | COVID-19

Historic $1.9T Stimulus Plan Targets Minority Farmers and Supply Chain
Agri-Pulse | Feb. 10 | Disaster Recovery & Relief | Food Systems Finance | Social Finance | COVID-19



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
info@cdfa.net

Archives

Displaying 1 - 30 of 89

April 9, 2024
March 12, 2024
February 13, 2024
January 9, 2024
December 12, 2023
November 14, 2023
October 10, 2023
September 12, 2023
August 8, 2023
July 11, 2023
June 13, 2023
May 9, 2023
April 11, 2023
March 14, 2023
February 14, 2023
January 10, 2023
December 13, 2022
November 8, 2022
October 11, 2022
September 13, 2022
August 9, 2022
July 12, 2022
June 14, 2022
May 10, 2022
April 12, 2022
March 8, 2022
February 8, 2022
January 11, 2022
December 14, 2021
November 9, 2021




CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor