CDFI Fund Announces $25 Million in Healthy Food Financing Initiative Awards

Washington, DC - Reinforcing the Community Development Financial Institutions Fund's (CDFI Fund) commitment toward economic development in distressed and low-income communities, Director Donna J. Gambrell announced today $25 million in grants under the fiscal year (FY) 2011 round of the Community Development Financial Institutions Program (CDFI Program) targeted for organizations serving food deserts low-income neighborhoods with limited access to affordable and nutritious food.The grants, made available as part of the multi-agency Healthy Food Financing Initiative (HFFI), were awarded to 12 Community Development Financial Institutions (CDFIs) focused on developing solutions for increasing access to affordable healthy foods.

"The awards being provided to CDFIs through this initiative will enable CDFIs to enhance their financing solutions to deliver healthy food options to food deserts nationwide," said Director Gambrell. "The 12 awardees this year have an impressive combination of experience in working in underserved areas and the enthusiasm to expand their expertise to improve the quality of life for residents of low-income communities across the country."

The HFFI is an interagency initiative involving the U.S. Department of the Treasury, the U.S. Department of Agriculture, and the U.S. Department of Health and Human Services. HFFI represents the federal government's first coordinated step to eliminate "food deserts" by promoting a wide range of interventions that expand the supply of and demand for nutritious foods, including increasing the distribution of agricultural products; developing and equipping grocery stores; and strengthening producer-to-consumer relationships.

About the CDFI Fund

Since its creation in 1994, the CDFI Fund has awarded over $1.3 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the Bank Enterprise Awards program, the Native American CDFI Assistance program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $29.5 billion in tax credit authority to community development entities through the New Markets Tax Credit Program.

2011 Healthy Food Financing Initiative Awards

• 2011 Healthy Food Financing Initiative Award List
• 2011 Healthy Food Financing Initiative Highlights
• 2011 Healthy Food Financing Initiative Profiles
• 2011 Healthy Food Financing Initiative Award Booklet

For more information on the CDFI Fund and its programs, please visit www.cdfifund.gov.