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CDFA Food and Agriculture Finance Update - April 9, 2019

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CDFA Food and Agriculture Finance Update
April 9, 2019
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CDFA Food & Agriculture Finance Update

Features

RI Food Hub Gets Financial Boost
The Rhode Island Commerce Corporation unanimously authorized a maximum of $2.2 million in Rebuild Rhode Island tax credits to close a financing gap for the planned development. Farm Fresh RI plans to build a 60,000 square foot headquarters on the site, with completion scheduled for 2020. The facility is also set to house retail and wholesale distributors, along with a year-round farmers market.

State of LA Launches Program to Expand Fresh Food Access
A Louisiana program is offering $800,000 in financing to supermarkets and grocery stores in underserved communities affected by hurricanes. The Healthy Food Retail Program will provide flexible financing to enable operators to open, renovate, or expand retail outlets that sell healthy food.

Flint, MI Grocery Project Would be Financed through CDBG, NMTCs, and TIF
The Fresh Start Hutchinson Neighborhood Grocery Store would be financed/funded through a $2.6 million HUD loan, a $1.5 million CRA grant from the state, $3 million in New Market Tax Credits, and tax increment financing. The proposed 25,000 square foot grocery store would be built in what is considered to be a food desert.

Disaster Relief Loans Now Available for MN Farmers
The Rural Finance Authority board issued a disaster declaration for the State of Minnesota, which now makes low interest loans available for Minnesota farmers whose operations suffered damage due to the record winter snowfall. The disaster recovery loan program can be used to help clean-up, repair or replace farm structures and septic and water systems, as well as replace cropping inputs, feed and livestock.

Governor Wolf Approves New Funding to Support PA's Farmers
More than $8 million in grants and low-interest loans were recently provided to support Pennsylvania's farms, including $5 million in grants awarded through the new Pennsylvania Dairy Investment Program. The governor's Pennsylvania Farm Bill proposal includes continued funding for this program in the Fiscal Year 2019-20 budget and signals a commitment to Pennsylvania's agriculture industry.

Reinvestment Fund Providing Child Nutrition Sources in NJ
Reinvestment Fund is offering a new capital and planning resource that aims to increase access to healthy, nutritious meals for children from vulnerable populations. The New Jersey Child Nutrition Fund (NJCNF) offers capital and technical assistance to providers who participate or wish to participate in federal meal programs, Child and Adult Care Food Program (CACFP) and the Summer Food Service Program (SFSP). 

Farmers Look to Appropriators to Build Upon 2018 Farm Bill Victories
Having helped successfully deliver major victories for sustainable agriculture in the 2018 Farm Bill, family farmers are keeping the momentum going as Congress begins the FY 2020 appropriations cycle. Supported by the National Sustainable Agriculture Coalition, a dozen farmers and food advocates visited the capital to ask congressional appropriators to prioritize sustainable food and farm programs in the upcoming spending bill.

IN Food Hub Starts Next Development Phase
Fort Wayne's Plowshares Food Hub has planned a grand launch to celebrate moving to its next development phase. To assist, Plowshare looks to the Brightpoint Development Fund, a Small Business Administration microlender specializing in loans of up to $50,000 for business startups and one of the few lenders in the region who will help finance startups.

Upcoming Events
CDFA Summer School

CDFA // BNY Mellon Development Finance Webcast Series: Emerging Structures for Investing in Low-Income Communities
Tuesday, April 23, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, our expert speakers will discuss the financing structure that supported Plaza 122, a place based specific solution for a community in need.

Food & Agriculture Finance News

USDA Invests in Rural Electric Infrastructure and Smart Grids in 13 States
USDA | Apr. 8 | Access to Capital | Agriculture Finance | Energy Finance | Infrastructure Finance

Loans Support Food Sustainability in HI
Hawaii Business | Apr. 8 | Access to Capital | Agriculture Finance | Food Systems Finance

Downtown Grand Island, NE Development Surging Thanks to Revitalization Efforts
The Grand Island Independent | Apr. 5 | Access to Capital | Community Development | Economic Development | Food Systems Finance | Tax Increment Finance (TIF) | Urban Development

PA Eyes Tax Credit to Link Retiring and Young Farmers
Farm and Dairy | Apr. 2 | Agriculture Finance | Food Systems Finance | Tax Credits

Reducing Food Waste With Tax Credits
Boulder Weekly | Apr. 2 | Agriculture Finance | Food Systems Finance | Tax Credits

At the Heartland Forum, Presidential Hopefuls Address Rural Ag Issues Head-On
Civil Eats | Apr. 2 | Agriculture Finance | Food Systems Finance | Infrastructure Finance

KS Agriculture Briefs
The Hutchinson News | Apr. 1 | Access to Capital | Agriculture Finance | Public-Private Partnership (P3) Financing

Debt Levels vs. Interest Rates: Which is Driving Farm Interest Expense Higher?
Ag Economic Insights | Apr. 1 | Agriculture Finance | Food Systems Finance

What Does "Local" Mean? And Is It Really Better?
New Food Economy | Mar. 29 | Agriculture Finance | Food Systems Finance

AK Growers Fear Ag Cuts Could Curb Growth
Peninsula Clarion | Mar. 23 | Agriculture Finance | Food Systems Finance

New Urban Food Hub Helps Farmers Sell in Urban Market
Capital Press | Mar. 22 | Agriculture Finance | Food Systems Finance

KY Supporters Raising Funds for Ag Center
The Eagle Post | Mar. 21 | Access to Capital | Agriculture Finance | Food Systems Finance

Building a Modern Food System
Seed World | Mar. 21 | Agriculture Finance | Food Systems Finance

Organizing Boston's Good Food Movement
Nonprofit Quarterly | Mar. 20 | Agriculture Finance | Food Systems Finance

Farmers Dig Deep to Weather Slumping Ag Economy
IL Public Media | Mar. 14 | Agriculture Finance | Food Systems Finance

Webinar: Community Revitalization's Strategies for Food, Health, and Economic Development
Center for Creative Land Recycling | Mar. 12 | Agriculture Finance | Community Development | Economic Development | Food Systems Finance | U.S. Environmental Protection Agency (EPA)



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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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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