Tom Vilsack Secretary of U.S. Department of Agriculture (USDA) | Official Website
MONTGOMERY, Ala., June 24, 2024 – At the National Rural Grocer’s Summit today, U.S. Agriculture Secretary Tom Vilsack announced that USDA and Reinvestment Fund are launching a new program under the Healthy Food Financing Initiative (HFFI) to increase access to healthy foods in communities underserved by grocery stores. Funding for the new Food Access and Retail Expansion Fund (FARE Fund) is made possible by President Biden’s American Rescue Plan Act.
“People across this country deserve fresh, healthy and affordable foods,” Secretary Vilsack said. “Through this program, the Biden-Harris Administration is partnering with food retailers to ensure that everyone has access to affordable, delicious foods while also supporting local farmers and ranchers. We are revitalizing the food systems in this country and increasing access for those that need it.”
Through the HFFI FARE Fund, USDA and the Reinvestment Fund are making available $60 million in loans, grants, and technical assistance for food retail and food retail supply chain projects that increase access to healthy food in communities underserved by grocery stores. Funding will be available for the next five years.
Eligible organizations include food retailers and food retail suppliers. Applicants may apply for loans ranging from $500,000 to $5 million to implement healthy food projects. Funds may be used to support predevelopment, land acquisition, renovations, and equipment purchases.
Applicants may also apply for grants up to $250,000 to implement healthy food projects. Funds may be used to support project management, equipment purchases, and construction.
The program also offers funding for business support or technical assistance to support projects in their early stages. Funds may be used to support market and feasibility studies, business planning, and store design.
Potentially eligible projects can check for eligibility now and sign up to be notified when the program begins accepting applications at: www.investinginfood.com/fare-fund
Background
Many low-income communities lack adequate, affordable access to healthy food. HFFI provides grants and loans to entities that offer healthy foods in communities that are underserved by grocery stores and other food retailers. The program increases access to healthy foods provides new market opportunities for farmers and ranchers stabilizes small and independent retailers creates good-paying jobs economic opportunity in low-income communities.
The FARE Fund is an expansion of HFFI administered by the Reinvestment Fund on behalf of USDA Rural Development.
Through HFFI USDA partners with Reinvestment Fund bring healthy food options underserved rural urban Tribal communities Reinvestment Fund serves as National Fund Manager USDA It raises capital; provides financial technical assistance regional state local partnerships helps fund projects improve access fresh healthy foods underserved areas
In August 2023 Reinvestment Fund expanded America’s Healthy Food Financing Initiative include new HFFI Local Regional Healthy Food Financing Partnerships Program To date HFFI awarded over $25 million directly food retail enterprise projects 48 states Washington D.C Puerto Rico Additionally over $40 million awarded support 16 new existing regional state local financing programs through HFFI Local Regional Healthy Food Financing Partnerships Program
USDA Rural Development provides loans grants help expand economic opportunities create jobs improve quality life millions Americans rural areas This assistance supports infrastructure improvements business development housing community facilities such schools public safety health care high-speed internet access rural tribal high-poverty areas Visit Rural Data Gateway learn how where these investments impacting rural America To subscribe USDA Rural Development updates visit GovDelivery Subscriber Page
USDA touches lives all Americans each day many positive ways Under Biden-Harris Administration USDA transforming America’s system greater focus more resilient local regional production fairer markets all producers ensuring safe nutritious all building markets streams income farmers producers using climate-smart forestry practices making historic investments infrastructure clean energy capabilities rural America committing equity across Department removing systemic barriers building workforce more representative America To learn more visit www.usda.gov
