Mayor Andre Dickens today announced that Atlanta is one of 16 public-private partnerships selected across the country to receive funds from America’s Healthy Food Financing Initiative (HFFI).
This nearly $3 million investment, administered by Reinvestment Fund on behalf of the U.S. Department of Agriculture (USDA) Rural Development, marks a significant step forward in advancing equitable food access and economic empowerment in underserved communities in the city, according to a press release.
HFFI is dedicated to supporting food supply chain resilience, improving access to nutritious foods, fostering job creation, and revitalizing low-income communities. The program provides financing to local, state and regional organizations that partner to provide financing and technical assistance to food retailers in underserved communities.
“Atlanta’s selection for the Healthy Food Financing Initiative reinforces our ongoing commitment to reaching underserved communities and addressing the pressing issue of food access and food insecurity,” Dickens said in the release. “We are thankful to the USDA for this investment that will enable us to increase access to healthy foods, stimulate economic development and foster a more vibrant and resilient city for all residents.”
Since its inception, HFFI has disbursed $25.4 million in grant awards to 162 projects across 48 states, Washington, D.C., and Puerto Rico, resulting in the creation or retention of more than 1,800 jobs and the preservation of more than 625,000 square feet of food retail space.
“Programs like HFFI are vital to our communities because ninety-eight percent of disinvested neighborhoods in Atlanta include census tracts that lack access to healthy food,” said Dr. Eloisa Klementich, president and CEO, Invest Atlanta. “The HFFI funding expands our continuous efforts to overcome food access challenges and help food retailers, including those owned by and people of color, looking to invest in our communities.”
Invest Atlanta and Access to Capital for Entrepreneurs (ACE) will work in partnership on the Atlanta Food Access Investment Initiative funded through HFFI. Together, Invest Atlanta and ACE will conduct research informing their approach to food access barriers and solutions, deliver tailored technical assistance programs to food enterprises, and make food enterprise-specific financial products such as loans and grants available.
ACE will work with Invest Atlanta to develop and deploy food enterprise-specific loan products and explore options for food enterprise grants. ACE anticipates supporting at least $1,000,000 in loan capital, enabling strong and healthy growth of those businesses and the communities they serve.
Some of the ways the Atlanta Food Access Initiative will impact the city include:
Low-Interest Loans: Ten low-interest rate loans, each up to $150,000, will be provided to businesses committed to enhancing food access in Atlanta’s underserved communities.
Tailored Technical Assistance: Tailored technical assistance will be offered to support businesses in overcoming challenges and optimizing operations.
Grants for Innovation: Nineteen grants, valued at up to $75,000 each, will be deployed to help businesses offset costs associated with startup, expansion, or business model enhancements to promote healthy food offerings.
Loan Loss Reserve Establishment: A loan loss reserve will be established to ensure the availability of financing for eligible projects, ensuring sustainable growth and development.
Community Research: Comprehensive research will be conducted on the food retail landscape, focusing on underserved communities such as the Bowen Homes Choice Neighborhood, Thomasville Heights affordable housing community, and key corridors including Donald Lee Hollowell, Campbellton, and M.L.K.
Policy Research: In-depth policy research will identify legal barriers or facilitators to the successful implementation of food access improvement strategies, informing evidence-based policy decisions.
Through these strategic initiatives, the Atlanta Food Access Investment Initiative aims to not only address immediate food access challenges but also foster long-term resilience and prosperity throughout Atlanta.
