USDA Partners With Reinvestment Fund to Increase Equitable Access to Healthy Foods
The U.S. Department of Agriculture (USDA) is partnering with the Reinvestment Fund to help organizations strengthen local food financing programs and improve access to healthy foods in underserved communities across the country. The Reinvestment Fund has selected 16 public-private partnerships to receive $40.3 million in grants under the Healthy Food Financing Initiative (HFFI) Local & Regional Healthy Food Financing Partnerships Program in 20 states and Washington, D.C.
Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.
Brown, Braun Introduce Bipartisan Bill to Lower Food Costs by Strengthening Supply Chains
U.S. Senators Sherrod Brown (D-OH) and Mike Braun (R-IN) introduced bipartisan legislation that would help lower food costs by strengthening the infrastructure and supply chains that farmers and food businesses depend on to get their products to market. The Food Supply Chain Capacity and Resiliency Act would expand the Department of Agriculture's Food Supply Chain Guaranteed Loan Program to support new investments in America's food supply chain by providing low-interest loans to businesses investing in food supply chain operations and prioritizing investments in rural or economically distressed areas.
CDFA Board Treasurer Steve Johnson Named CHFA's Chief Operating Officer
CDFA is excited to share the promotion of Steve Johnson to COO of the Colorado Housing and Finance Authority (CHFA). Steve has been one of CDFA's most committed supporters and advocates for the past 20 years, contributing his time and expertise as a guest speaker, event sponsor, CDFA Board of Directors Treasurer, and countless other ways. Congratulations Steve!
Rich Products Begins Phase Two of $177M Expansion in Brownsville, NY
Rich Products announced that phase two of its $117 million, 150,000-square-foot expansion in Brownsville is underway, ultimately resulting in the creation of more than 130 new jobs. The company is partnering with National New Markets Fund, an affiliate of Los Angeles-based SDS Capital Group that has invested $17.5 million in its New Market Tax Credit (NMTC) allocation for the expansion. The Brownsville facility makes frozen seafood and appetizer products and is considered the founder of the non-dairy frozen food industry.
Mitchell Smith Guest Speaker at CohnReznick's Annual New Markets Tax Credit Summit
Mitchell Smith, CDFA's Senior Director of Government & External Affairs, joined CohnReznick in Miami to speak at their annual New Markets Tax Credit (NMTC) Summit! Mitchell shared his expertise at the session, "Ballot boxes, budgets, and bipartisanship: The legislative state of the NMTC in the 2024 election year."
USDA Announces $22M to Support Underserved and Veteran Farmers and Ranchers
The U.S. Department of Agriculture (USDA) announced $22.3 million available to community-based and nonprofit organizations, institutions of higher education, and tribal entities that help underserved and veteran farmers and ranchers own and operate successful farms. Funding is made through USDA's 2501 Program. This program is administered by USDA's Office of Partnerships and Public Engagement.
Ohio Invests $86M in Early-Stage, Tech-Based Companies With SSBCI Funds
Ohio awarded $86 million to support early-stage, tech-based companies in underserved communities and populations across the state. The funding is being awarded to 11 professionally managed investment funds through the Ohio Venture Fund and Ohio Early Stage Focus Fund to provide capital to early-stage, tech-focused companies throughout Ohio. Funds will invest in companies focused on healthcare, manufacturing, food technologies, and more.
FDC's Commercial RLF Funds Another "For-Benefit" Coffee House in Indianapolis, IN
As a "For-Benefit" coffeehouse, Coffeehouse Five utilizes its revenue to provide five services to the community. Those include free premarital counseling, free marriage counseling, addiction recovery programs, and mentor training, and another portion of their proceeds are dedicated to help fund other mental health needs. It's a project made possible with dollars from the Franklin Development Corporation's (FDC) Commercial Revolving Loan Fund (RLF).
South Dakota Issues $55M Bond for Dairy Operation
The South Dakota Governor's Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) approved a $55 million Livestock Nutrient Management Bond to Riverview LLP of Kingsbury County. Proceeds will be used for acquisition, site preparation, and solid waste management for their 15,000-20,000 milking cows dairy operation.
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