The American Rescue Plan Act of 2021 is a critical step in getting the U.S. economy back on track, getting children back to school, getting COVID-19 vaccinations to all Americans, and pulling millions out of poverty. Provisions within the jurisdiction of the USDA will reduce hunger across the country, strengthen the food supply chain, invest in rural America, and provide long-awaited support to underserved, socially disadvantaged farmers.

The number of Black-owned farms has declined rapidly over the past century, to less than 40,000 today from about a million in 1920, the result of industry consolidation as well as onerous loan terms and high foreclosure rates. The Biden administration is pledging to reverse decades of discriminatory agricultural lending and subsidy policies that have left Black farmers at an economic disadvantage and is racing to deploy $5 billion in aid and debt relief to help them.

A $314 million ag-tech center — that will grow indoors, co-pack, distribute and sometimes process fresh greens, tomatoes, blueberries, and other produce — is coming to South Carolina. With artificial intelligence and blockchain technology provided by Core Scientific, this center is a joint venture project among Mastronardi Produce, Clear Water Farms, LiDestri Food and Drink, and the GEM Opportunity Zone Fund.

A small grocery store will anchor a large mixed-use project in West Baltimore's Poppleton neighborhood, which has limited access to affordable and nutritious food. The city was responsible for about $10 million in bonds already sold as part of a $58 million tax increment financing deal to pay for infrastructure work for the massive $800 million project that launched in 2005. As other phases of the development project progress, the grocer expects to expand in size.

Construction has started on the 60,000-square-foot New York State Regional Food Hub in the Hunts Point neighborhood of the Bronx. The $39 million project cold-storage facility will support local farmers and underserved New Yorkers. The publicly funded project will expand GrowNYC's wholesale distribution infrastructure that makes local foods accessible to underserved New Yorkers through wholesale buyers, including institutions and restaurants, and through nonprofit group partnerships.

The Restaurant Revitalization Fund continues to stir up questions, even as it nears its much-anticipated rollout. The American Rescue Plan Act of 2021 was signed into law on March 11 and included the $28.6 billion grant program designed to aid restaurants struggling with the year-plus fallout of COVID-19.

Travel's economic footprint in the U.S. declined by 42% last year. The U.S. Travel Association is pressing Congress to pass the bipartisan Hospitality and Commerce Job Recovery Act, which would provide a temporary business tax credit to revitalize business meetings and conferences, a temporarily restored entertainment business expense deduction, an individual tax credit to stimulate nonbusiness travel, and tax relief for restaurants and food and beverage companies.

Counterpointe Sustainable Real Estate (CounterpointeSRE) announced it has provided $4.6 million in Commercial Property Assessed Clean Energy (C-PACE) funding in support of completed energy-efficiency work at the recently opened Amped Kitchens Chicago facility. The $4.6 million of C-PACE funding was applied with the consent of a consortium of New Markets Tax Credit (NMTC) program investors.

The United States Department of Agriculture (USDA) announced that it is making an additional $35 million available this year in the Value-Added Producer Grant Program to support agricultural producers affected by the COVID-19 pandemic.

CDFA // BNY Mellon Development Finance Webcast Series: Social Impact Investing Credit Ratings for CDFIs
Tuesday, April 20, 2021 - 2:00 PM - 3:00 PM Eastern

CDFA Rural Development Finance Webinar Series: Assembling Capital for Rural Development
Tuesday, June 1, 2021 - 2:00 PM - 3:00 PM Eastern

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This report from Drexel University's Nowak Metro Finance Lab provides a guide to federal funding in the American Rescue Plan (ARP). The authors place a special emphasis on formula funds received by local anchors, competitive grants, and funds distributed to public authorities that city leadership can leverage to boost their recovery. They clarify which entities are responsible for applying for grant funds, when funding expires, and what role city and county leadership can play even when they will not be the primary applicant for funds.

This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the federal level with no further sub-allocation. It is a dynamic summary to be paired with the Federal Investment Guide produced by Accelerator for America, Drexel University, and the US Conference of Mayors.

Food Forward NYC is the City's first ever 10-year food policy plan, laying out an ambitious interagency policy framework to reach a more equitable, sustainable, and healthy food system by 2031. The success of this plan depends on the partnership of everyone involved in the food system. Food businesses large and small, community-based organizations and advocates, philanthropies and academic institutions, regional partners, and the state and federal government all have a critical role to play.

The Plan estimates that additional public and philanthropic investment is needed over the next ten years: approximately $9.7 million in one-time funding and $23.3 million in recurring funding. This level of funding will ensure sufficient land access and conservation, climate resilience, food security, infrastructure investments, regional market development, and workforce development to meet the growing needs of the sector. Public and philanthropic funding will also stimulate additional private sector investment.

The federal programs and tools available today to help generate social and economic development in rural communities serve as a reminder of active and broad federal involvement in the 20th century, and the possibilities for federal leadership to help rural communities meet the current moment. Yet they are outdated, fragmented, and incoherent. This report identifies over 400 programs open to rural communities for economic and community development, spanning 13 departments, 10 independent agencies, and over 50 offices and sub-agencies.

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