Zack Folk, Credit Analyst for the STL Partnership shares insight on how food can be a powerful tool for revitalization
Recently the Council of Development Finance Agencies (CDFA) held a third installment of the virtual event titled “Food Systems Finance Webinar Series.” The webinar series illustrated the many positive impacts that result from financing food systems at a neighborhood scale, with speakers to showcase the versatility of projects and financing approaches.
The webinar also focused on how many food-related enterprises are small businesses that keep dollars local and create jobs. Other topics of discussion included the importance of restoring food markets and preserving other historic structures and how celebrating local food culture can draw visitors from near and far, while also improving economic and social conditions for residents.
Presenters included Zack Folk, Credit Analyst for the STL Partnership, Sue Hounsel, Economic Development District Manager for the City of Dallas and Nicole Reitzell, Vice President of Community Engagement for the Erie, PA Downtown Development Corporation. Each presenter shared economic growth and improvements in their city.
Zack Folk spoke about revolving loan funds at the STL Partnership and how they work in the food systems arena. “Revolving loan funds are primarily used for gap financing and are meant to help make a project work,” said Folk.