CDFA Announces Third Grant Award from the W.K. Kellogg Foundation
With support from a third round of funding from the W.K. Kellogg Foundation, CDFA is continuing to advocate for Defining the Food System Asset Class by building on previous efforts to increase opportunities and leverage existing capital to support local and regional food systems. There is a significant opportunity for further investment in this space through formalized technical assistance, facilitated collaboration between food system practitioners and development finance agencies, and direct and indirect lending programs for food- and agriculture-related businesses and projects.
USDA Announces $420M for 12 Newly Created Regional Food Business Centers
The U.S. Department of Agriculture (USDA) announced the creation of 12 new USDA Regional Food Business Centers that will provide national coverage coordination, technical assistance, and capacity building to help farmers, ranchers, and other food businesses access new markets and navigate federal, state, and local resources. The USDA also announced a $420 million Resilient Food Systems Infrastructure Program (RFSI) to strengthen local food supply systems.
Berkshire Agricultural Ventures Attempts to Ease New England Slaughterhouse Bottleneck
New York-based Berkshire Agricultural Ventures received a $630,000 grant from the U.S. Department of Agriculture through its Rural Development Meat and Poultry Intermediary Lending Program. Combined with $210,000 in donations from the community, the nonprofit will establish an $840,000 revolving loan fund intended to help meat processors in the Berkshire-Taconic foodshed absorb more deliveries from farms.
Join CDFA for Our Upcoming Intro Tax Increment Finance Course!
Register for CDFA's Intro Tax Increment Finance Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.
New York Creamery Receives $20M to Promote Regenerative Grass-Fed Organic Dairy
Maple Hill Creamery, America's original 100% grass-fed organic dairy company, announced finalization of $20 million in funding from the U.S. Department of Agriculture to grow markets for sustainable, regenerative, grass-fed organic dairy farming. The funding is part of the USDA's Partnerships for Climate-Smart Commodities program, supporting pilot projects that will help build and expand opportunities for consumers to purchase food grown in a climate-friendly way.
Florida's Feeding Tampa Bay will Expand Its Reach with NMTC
Florida Community Loan Fund has finalized closing on New Markets Tax Credit (NMTC) financing for Feeding Tampa Bay. FCLF provided $12 million in NMTC allocation for the new $63.5 million facility in Tampa which will help the organization meet its goal to end hunger in its service area.
USDA Funding Available for Meat and Poultry Processing for Underserved Producers and Tribal Communities
The U.S. Department of Agriculture (USDA) announced the availability of up to $125 million through two new programs, the Indigenous Animals Harvesting and Meat Processing Grant Program and the Local Meat Capacity Grant Program, that will create more options for meat and poultry farmers by investing in independent, local meat and poultry processing projects that increase competition and enhance the resiliency of the food supply chain.
Iowa Agriculture Consulting Company Awarded Loan Under SSBCI
Regenerative agriculture consulting company Continuum Ag was among three winners of a low-interest loan from the Iowa Economic Development Authority, part of the agency's State Small Business Credit Initiative (SSBCI). The business will receive a $250,000 loan, which Continuum Ag will use on development for the business's carbon intensity scoring software at Topsoil.ag, which helps farmers quantify their carbon footprint.
Chapul Opens $10M Series A to Leverage Insects for Soil Health and Reduced Food Waste
Diverting organics from landfills is the top actionable item to address climate change, but we lack scalable technologies to address the problem. Chapul Farms, designer of modular insect farms that turn organics waste into high-value animal feed and biofertilizer products, is set to embark on its next fundraising journey – a $10M Series A Reg D 506(c) set to open to accredited investors to address the problem at scale.