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CDFA Food and Agriculture Finance Update - September 13, 2022

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CDFA Food and Agriculture Finance Update
September 13, 2022
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CDFA Food & Agriculture Finance Update

Features

Don't Miss the CDFA Ohio Financing Roundtable This Week!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!

Grab Your Seat at the Table to Discuss Financing Food Systems Infrastructure
Investment in food systems infrastructure - like processing, aggregation, and distribution facilities - is essential to increase capacity in local food economies. Join us at the CDFA National Development Finance Summit, Presented by CHFA, in Denver, CO on Thursday, November 3 for a session highlighting financing opportunities for reinvesting in local food and supporting innovative infrastructure.

USDA Announces $400M Available to Create Regional Food Business Centers
The USDA announced the availability of approximately $400M to provide essential local and regional food systems coordination, technical assistance, and capacity building services through USDA's new Regional Food Business Centers.

Alaska Mariculture Industry Gets $49M Boost From Feds
The U.S. Department of Commerce's Economic Development Administration recently named a coalition of Alaska groups as one of 21 grantees for the Build Back Better Regional Challenge. The cohort, collectively referred to as the Alaska Mariculture Cluster, presented a goal of growing Alaska mariculture into a $100 million industry over the next 10 years.

One Pennsylvania Farm Raised $165K Using a Lending Platform for Sustainable Agriculture
Steward, a lending platform that brings together sustainable farms in need of funding with individuals who want to support regenerative agriculture, has issued secured loans for 70 regenerative agricultural projects for a total of $12.8 million. It currently has a community of about 2,500 lenders throughout the United States funding infrastructure that is critical to the food system, such as meat processing, shared cold storage and food hubs.

USDA to Invest up to $300M in New Organic Transition Initiative
The U.S. Department of Agriculture's (USDA) $300M investment, including with American Rescue Plan funds, in a new Organic Transition Initiative will help build new and better markets and streams of income for farmers and producers. Organic production allows producers to hold a unique position in the marketplace and thus take home a greater share of the food dollar.

New Team to Unlock Financial Support for Regenerative Practices for Farmers in Iowa
Truterra, LLC, the sustainability business and subsidiary of Land O'Lakes, Inc., one of America's largest farmer-owned cooperatives, announced a new collaboration with FarmRaise to expand farmer access to its end-to-end funding software via ag retailers.  FarmRaise identifies and helps farmers apply to grants and financial assistance programs for on-farm regenerative practices.

Inflation Reduction Act Will Deliver $19.5B in Funding for Climate-Smart Agriculture
The USDA welcomed the passage of the Inflation Reduction Act, which will deliver $19.5B in new conservation funding to support climate-smart agriculture. This funding will bolster the new steps that USDA's Natural Resources Conservation Service announced to improve opportunities for nutrient management.

Senate Bill Expands Local Meat Processing
Sen. Joni Ernst, R-Iowa, a member of the Senate Agriculture Committee, is leading an effort to reduce regulatory red tape to enable livestock auction market owners to invest in small meat packing operations with the introduction of the Expanding Local Meat Processing Act. The bill is a companion bill to the House's A-Plus Act – the Amplifying Processing of Livestock in the United States Act.

U.S. Farmers Receive $1.2M in Carbon Farming Payments Through CarbonNOW Program 
U.S. farmers received over $1.2 million in carbon payments through CarbonNOW, a globally recognized carbon farming program from Locus Agricultural Solutions. The payments were made upfront on a per-acre basis to over 40 growers to help cover the increasing operational expenses of the carbon farming program, such as fuel, fertilizer and product costs.

Upcoming Events
CDFA National Development Finance Summit

Intro Tax Credit Finance WebCourse
September 19-20, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course discusses the practical application of tax credit programs including brownfields, new markets, low-income housing, historic preservation, and state-specific programs.

CDFA Food Systems Finance Webinar Series: Don't Throw Away Opportunity! Creative Financing for Addressing Food-Related Waste
Tuesday, October 11, 2022 - 2:00 PM - 3:30 PM Eastern
Across the nation, as much as 40% of food is wasted during production, processing, and distribution as well as disposal. At every stage of the supply chain moving food from farm to fork, food-related waste is created as a result of limited technology and inadequate infrastructure. During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how innovative partnerships are leveraging creative financing approaches to reduce food-related waste along the supply chain.

Food & Agriculture Finance News

Vermont Farmers Get Loans to Renovate Worker Housing
VTDigger | Sep. 8 | Access to Capital | Agriculture Finance | State Finance Program

USDA Announces $21.9M Awarded to Further Strengthen Meat and Poultry Supply Chains
USDA | Aug. 31 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Record Funding Allows Virginia Farmers to Implement Conservation Projects
Rappahannock News | Aug. 31 | Access to Capital | Agriculture Finance | State Finance Program | U.S. Dept. of Agriculture (USDA)

Alaska Governor Signs Bills Supporting Farming, Meat Processing Industries
Office of Governor Mike Dunleavy | Aug. 26 | Access to Capital | Agriculture Finance | Legislative | State Finance Program

USDA Announces Up to $550M for Projects Benefiting Underserved Producers
USDA | Aug. 24 | Access to Capital | Agriculture Finance | Federal | Social Finance | U.S. Dept. of Agriculture (USDA)

Keep Agriculture Growing Forward Program Offered by Farm Credit
Ohio's Country Journal | Aug. 23 | Access to Capital | Agriculture Finance | Rural Development

Missouri Governor Calls Session on State Income Tax Cuts and Agricultural Tax Credits
WPSD | Aug. 22 | Access to Capital | Agriculture Finance | Legislative | State Finance Program | Tax Credits

USDA Announces First Three Lenders for Heirs' Property Relending Program
USDA | Aug. 18 | Access to Capital | Agriculture Finance | Development Finance Toolbox | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | Ag Finance

Walmart Foundation Supports the U.S. Regenerative Cotton Fund
PR Newswire | Aug. 18 | Access to Capital | Agriculture Finance | Foundations | Resiliency

Seattle, WA Food Equity Fund Invests $2.8M in 22 Community-Initiated Projects
Front Porch | Aug. 17 | Access to Capital | Food Systems Finance | Social Finance | State Finance Program

Wisconsin Legislators Back Additional Ag Funding
Brownfield Ag News | Aug. 17 | Access to Capital | Agriculture Finance | Legislative | Resiliency | State Finance Program

USDA New Resource Guides for Tribal Governments, Citizens, and Organizations
USDA | Aug. 16 | Access to Capital | Agriculture Finance | Federal | Rural Development | Tribal Finance | U.S. Dept. of Agriculture (USDA)

Bayer Launches Sustainable Agriculture Hub to Connect Farmers, Food, Fuel Makers
U.S. News | Aug. 15 | Access to Capital | Agriculture Finance | Innovation Finance

USDA Investing $197M in Partner-Driven, Locally Led Conservation
USDA | Aug. 12 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)

Urban Farming Trend Growing in NJ; Funding Bill Revived
Patch | Aug. 12 | Access to Capital | Agriculture Finance | Food Systems Finance | Legislative | Revolving Loan Funds (RLFs) | State Finance Program

Funding Circle, Farm Bureau Bank Collaborate to Boost Small Business Lending
Business Wire | Aug. 11 | Access to Capital | Agriculture Finance | Community Development | Economic Development | Rural Development

EPA Announces $79M Investment to Protect and Restore the Columbia River Basin
EPA | Aug. 10 | Access to Capital | Agriculture Finance | Federal | Infrastructure Finance | Resiliency | U.S. Environmental Protection Agency (EPA)

University of Arkansas, USDA Partner on Education Effort for Farmers, Ranchers
High Plains Journal | Aug. 9 | Access to Capital | Agriculture Finance | Federal | State Finance Program | U.S. Dept. of Agriculture (USDA)

Pennsylvania Ag Secretary Encourages Farmers to Take Advantage of Farm Bill Investments
Pennsylvania Pressroom | Aug. 9 | Access to Capital | Agriculture Finance | Bond Finance | State Finance Program | Tax Credits

USDA Boosts Conservation on Grazing Lands and Support for Farmers, Ranchers
Morning AgClips | Aug. 9 | Access to Capital | Agriculture Finance | Resiliency | U.S. Dept. of Agriculture (USDA)



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

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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