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CDFA Food and Agriculture Finance Update
February 13, 2018
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CDFA Food & Agriculture Finance Update

Features

CDFA to Define the Food System Asset Class with W.K. Kellogg Grant
The Council of Development Finance Agencies (CDFA) has received funding from the W.K. Kellogg Foundation (WKKF) to define the food system asset class. The premise of this project is to suggest and then prove that, if organized and defined properly, the food system can become a defined asset class worthy of traditional investment. Learn more about this cutting edge project on the CDFA Defining the Food System Asset Class webpage.

What the Budget Deal Means for American Agriculture
This article from the National Sustainable Agriculture Coalition lays out what the new federal budget deal means for American agriculture.

NY Launches New $10M Loan Program to Help Agribusinesses Grow
Governor Andrew M. Cuomo recently announced that the New York Job Development Authority will launch an Agriculture Loan Fund Program to address and help alleviate the economic barriers faced by many New York State small agribusiness owners.

Tax Credits Available to NY Farmers
Governor Andrew M. Cuomo recently announced that New York farmers are now eligible to receive a tax credit for qualifying food donations made to food banks and other emergency food programs.

TN Agriculture Enterprise Fund Grants Announced
A new product of the Governor's Rural Task Force, the Agriculture Enterprise Fund acts as an incentive program to support Gov. Bill Haslam's priorities of job creation and economic development by facilitating agricultural development in the state of Tennessee.

Mondovi, MN Food Business Pursuing Loan from County RLF
Together Farms in rural Mondovi applied for partial financing of a business project through a Buffalo County revolving-loan-fund program aimed at spurring economic development. A preliminary agreement was for a $35,000 loan to partially fund purchase and outfitting of a food sales trailer.

Farm Bill Legislative Principles for 2018 Includes Empowering P3's
U.S. Secretary of Agriculture Sonny Perdue includes empowering public-private partnerships to leverage federal dollars in the recently announced U.S. Department of Agriculture's Farm Bill and Legislative Principles for 2018.

State of AK Considering Bill to Allow Seafood Farmers to Use State RLF
The state legislature is working on a bill that passed the House last year and is now awaiting final action in the Senate that would give seafood farmers access to a revolving loan fund now used by operators of fish hatcheries.

Using R&D Tax Credit in the Agriculture Industry
Made permanent in late 2015, this credit rewards businesses with innovation that is only required to be "new to you" – not "new to the world." The credit has largely been ignored by the ag industry, according to Mike Johanns, former U.S. Secretary of Agriculture. 

Loans and Tax Credits Used to Finance Grocery Store in New Orleans
Circle Food market, a 22,000-square-foot-store located in New Orleans, which is run as a family-owned, for-profit business, employs an estimated 65 workers. Where it can, it seeks to promote community wellness, even at a cost to its bottom line. The store, a neighborhood hub, required an $8 million capital stack which included loans, new markets tax credits, historic tax credit equity, and incentives from the city in order to be built.

TIF Supporting New Grocery in Oklahoma City
A new Save-A-Lot will provide access to fresh foods for many in one of Oklahoma City's food deserts and is being supported by a tax increment finance district. Honor Capital, a veteran-owned small business that aims to eliminate food deserts across the country, initiated the deal.

HFFI and Tax Credits Used for Successful Philadelphia Grocery
A Shop'n Save which was built in a low income area in Philadelphia is not only proving to be economically viable, but also enhancing the social outcomes of the local residents says a new study. The $11.6 million store received financial support from a number of public, nonprofit and foundation sources, including $1.9 million in tax credits, $1 million from the Urban Redevelopment Authority and $789,000 from the federal Healthy Food Financing Initiative.

Upcoming Events
Intro Bond Finance WebCourse

CDFA Federal Financing Webinar Series
February 28, April 12, June 14, August 16, and October 18, 2018 - 2:00PM Eastern
The CDFA Federal Financing Webinar Series is an exclusive, five-part online offering that will convene finance experts, federal agencies, and local practitioners to discuss the development finance programs offered by the federal government.

Food & Agriculture Finance News

Clearwater County Economic Development Trying to Develop Kitchen Incubator
Clearwater Tribune | Jan. 3 | Food Systems Finance

TRU Aseptics Food Processing Plant Receives Tax Credits for Expansion
Beloit Daily News | Dec. 29 | Food Systems Finance | Tax Credits

Financing for Food Hall and Food Court Among $400M in Bonds in Atlanta, GA
Bisnow | Dec. 28 | Food Systems Finance | Bond Finance | Infrastructure Finance

Activity-Based Restaurant and Bar Receives $3.8M U.S. SBA Backed Loan in IA
Des Moines Register | Dec. 26 | U.S. Small Business Administration (SBA) | Food Systems Finance

Columbus, IN, Food Hub Using Loans to Fund New Grocery Store
The Republic | Dec. 26 | Food Systems Finance | Infrastructure Finance

Food Policy Councils the Key to Robust Local Food Economies?
The New Food Economy | Dec. 18 | Agriculture Finance | Community Development | Food Systems Finance

USDA Highlights $906K in Rural IL Infrastructure Investments
USDA | Dec. 15 | Infrastructure Finance | Rural Development

NMTC's Funding Food Enterprises in South Side Chicago
Crain's | Dec. 13 | Food Systems Finance | Tax Credits

Downtown Anderson, IN Brewery Secures $100K in Loans
The Herald Bulletin | Dec. 13 | Access to Capital | Revolving Loan Funds (RLFs) | Food Systems Finance



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

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