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CDFA Food and Agriculture Finance Update - July 13, 2021

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CDFA Food and Agriculture Finance Update
July 13, 2021
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CDFA Food & Agriculture Finance Update

Features

CDFA Releases Landscape Map for Financing Detroit's Local Food System
This newly released report from CDFA identifies traditional development finance tools that can be used to strengthen the local food system around Detroit and increase access to healthy, affordable food for underserved communities. Financing programs from state and local levels can be brought into coordination with existing work to rebuild Detroit's food system and complement the many other funding resources advancing this effort.

USDA Announces $500M for Expanded Meat & Poultry Processing Capacity
USDA is announcing it intends to make significant investments to expand processing capacity and increase competition in meat and poultry processing to make agricultural markets more accessible, fair, competitive, and resilient. USDA will commit $500 million in the form of grants, loans, and technical assistance to support new competitive entrants in meat and poultry processing, as well as more than $55 million in grants to strengthen existing small and very small meat processing capacity.

New Data Shows a Small Fraction of Restaurant Revitalization Fund Recipients Ended Up with Chunk of Money
The Small Business Administration (SBA) released data on who was able to receive money from the $28.6 billion Restaurant Revitalization Fund, and how much they got. Key findings include: just five percent of awardees received 40 percent of the Restaurant Revitalization Fund; one in 10 recipients were part of a franchise; and more than two out of three RRF recipients identified as businesses owned by women, veterans, or people of color.

Family Farm ReGeneration Act Passes Ohio House
By a vote of 96 to 1, the Ohio House passed House Bill 95, which could clear a major hurdle for the next generation of Ohio farmers and provide greater resilience to Ohio's food system. The Family Farm ReGeneration Act will authorize tax credits for those who sell or rent farmland, livestock, buildings, or equipment to beginning farmers. It also provides a credit for beginning farmers who attend a financial management program.

Growing Climate Solutions Act Passes U.S. Senate
The U.S. Senate passed the Growing Climate Solutions Act, legislation that will help farmers, ranchers, and foresters understand and access carbon markets, helping the environment and boosting farm income at the same time. The bi-partisan legislation helps producers to generate and sell carbon credits by setting up a third-party certification process through the U.S. Department of Agriculture.

Pennsylvania Farm Bill Funded at $13.6M
Funded for the third time at $13.6 million, the PA Farm Bill is a first-of-its-kind, comprehensive set of programs that resulted from bipartisan action to grow a stronger, more resilient agriculture industry. The Pennsylvania Farm Bill was developed to grow opportunities and resources, remove barriers, and build a workforce that the future of Pennsylvania agriculture can rely on.

Why Grocery-Anchored Real Estate Has Become So Attractive to Investors
Over the past year and change, the bankruptcy of many iconic retailers and the accelerated shift to e-commerce driven by the Covid-19 pandemic has stirred up quite a bit of uncertainty within the retail sector. The pandemic has served to highlight the attractiveness of the grocery business — and the real estate that grocery stores occupy — for three reasons: necessity, adaptability, and performance.

Arctaris Impact Investors Commits Additional $9.3M for Downtown Erie, PA Food Hall and Market
Arctaris announced that it has invested $9.3 million in Erie Downtown Development Corporation projects on North Park Row. The $26.9 million redevelopment project, spread over 64,000-square-feet of commercial space, includes a grocery store, food hall, and 28 residential units. Other funding for the project includes a $6.5 million Opportunity Zone investment from Erie Insurance and $3.4 million from the Erie Downtown Equity Fund.

Don't Miss the Fundamentals of Economic Development Finance Course at CDFA Virtual Summer School!
CDFA Summer School kicks off on August 2nd and 3rd with the Fundamentals of Economic Development Finance Course. This foundational course will help attendees understand the development finance toolbox, including bonds, tax credits, tax increment financing, federal financing programs, revolving loan funds, Opportunity Zones, and more. Join us to explore case studies and best practices that can be implemented in your community.

Upcoming Events
CDFA Virtual Summer School

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE
Tuesday, July 27, 2021 - 2:00 PM - 4:00 PM Eastern
Certain property and project types have not taken full advantage of PACE, however, during this workshop we'll explore what is being done to advance the goals in these market areas.

CDFA Rural Development Finance Webinar Series: Best Practices for Rural Development Finance Agencies
Tuesday, August 31, 2021 - 2:00 PM - 3:00 PM Eastern
During the third installment of the CDFA Rural Development Finance Webinar Series, discover best practices of development finance agencies to help you identify the right partner for your projects.

Food & Agriculture Finance News

Many in America Are Still Hungry, but Federal Legislation Could Help Combat the Problems
Richmond Times-Dispatch | Jul. 8 | Disaster Recovery & Relief | Food Systems Finance | Incentives | Legislative | Tax Credits | COVID-19

American Packaging Corporation Adding New Plant and Jobs in Cedar City, UT
Utah Business | Jul. 8 | Economic Development | Food Systems Finance | Incentives | Tax Increment Finance (TIF)

How COVID-Fueled Crowdfunding Can Revive Small Businesses
The Buffalo News | Jul. 1 | Access to Capital | Crowdfunding | Disaster Recovery & Relief | Food Systems Finance | Innovation Finance | COVID-19

Ohio Budget Bill Delivers New Incentive Opportunities
Lexology | Jul. 1 | Brownfield Financing | Economic Development | Food Systems Finance | Incentives | Revolving Loan Funds (RLFs) | State Finance Program

SBA Cancels Grants to Minority-Led Restaurants After Discrimination Lawsuit
Next City | Jun. 25 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | Social Finance | U.S. Small Business Administration (SBA) | COVID-19

Self-Help's Healthy & Equitable Foods Systems Capital Initiative
Self-Help Credit Union | Jun. 25 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance

Ohio Announces $155M in Business Assistance Programs
Governor of Ohio | Jun. 25 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | State Finance Program | COVID-19

Chicago, IL Mayor and Community Leaders Release Food Equity Agenda for Chicago
City of Chicago | Jun. 24 | Access to Capital | Agriculture Finance | Food Systems Finance | Local Finance Program | Social Finance

USDA Invests $55.2M to Increase Capacity and Expand Access in Meat and Poultry Inspection Operations
USDA | Jun. 21 | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Kentucky Agricultural Finance Corporation Approves Nearly $1M in Loans
Murray Ledger & Times | Jun. 18 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

New Markets Tax Credit Coalition Releases 2021 Progress Report
Yahoo Finance | Jun. 17 | Food Systems Finance | Healthcare | Social Finance | Tax Credits

EPA Announces $11M for Farm-Focused Projects to Improve Water Quality and Environmental Education
EPA | Jun. 16 | Agriculture Finance | Federal | Resiliency | U.S. Environmental Protection Agency (EPA) | Water Finance

AppHarvest Completes Deal with Rabo AgriFinance to Expand
Street Insider | Jun. 16 | Access to Capital | Agriculture Finance | Food Systems Finance | Innovation Finance | Revolving Loan Funds (RLFs) | Technology Financing

Apartments, New Restaurant Part of Renovation Plans at Historic Building in Downtown Kalamazoo, MI
MLive | Jun. 16 | Brownfield Financing | Food Systems Finance | Historic Preservation | Redevelopment

USDA Launches Grant Program to Help Expand Regional Economies and Create High-Wage Jobs in Distressed Rural Communities
USDA | Jun. 15 | Access to Capital | Agriculture Finance | Economic Development | Federal | Legislative | Rural Development | U.S. Dept. of Agriculture (USDA)

USDA Announces Additional Aid to Ag Producers and Businesses in Pandemic Assistance for Producers Initiative
USDA | Jun. 15 | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19

Olamina Fund Lends $13M to Financial Institutions in Black, Native, and Rural Communities
Impact Alpha | Jun. 14 | Access to Capital | Agriculture Finance | Community Development | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance

What Does the Executive Order on Climate-Related Risk Mean for Agriculture Finance?
Environmental Defense Fund | Jun. 14 | Access to Capital | Agriculture Finance | Federal | Revolving Loan Funds (RLFs) | Resiliency | U.S. Dept. of Agriculture (USDA)

Businesses in York County, PA Receive Assistance
Pennsylvania DCED | Jun. 11 | Access to Capital | Disaster Recovery & Relief | Economic Development | Food Systems Finance | Local Finance Program | Rural Development | COVID-19

Austin, TX City Council Approves Resolution Aimed at Tackling Food Insecurity
KVUE | Jun. 10 | Bond Finance | Community Development | Food Systems Finance | Local Finance Program | Social Finance


CDFA Resources

Food Finance Detroit: A Landscape Map for Financing Detroit's Local Food System
CDFA Original Research | Food Systems Finance
With funding from the W.K. Kellogg Foundation, CDFA is researching how development finance agencies can become more engaged in developing local and regional food systems. This report from CDFA identifies traditional development finance tools that can be used to strengthen the local food system around Detroit and increase access to healthy, affordable food for underserved communities. Financing programs from state and local levels can be brought into coordination with existing work to rebuild Detroit's food system and compliment the many other funding resources advancing this effort.

City of Wichita / Sedgwick County Food System Master Plan
Agriculture Finance | Community Development | Economic Development | Food Systems Finance
The Wichita-Sedgwick County Master Food Plan was created from the energy, hard work, and input of our community. The over-arching goals in this plan are to: foster food system coordination and education; improve access to healthy food; and increase local food production.


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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