By Jamie Martin
The U.S. Department of Agriculture (USDA) announced a new program to improve access to healthy food in underserved communities. The Food Access and Retail Expansion Fund (FARE Fund) is part of the Healthy Food Financing Initiative (HFFI) and funded by the American Rescue Plan Act.
Through FARE Fund, USDA and Reinvestment Fund are providing $60 million over five years for food retail and food retail supply chain projects. Grants of up to $250,000 are available to support project management, equipment purchases, and construction costs.
Additionally, loans ranging from $500,000 to $5 million can be used for predevelopment, land acquisition, renovations, and equipment.
The program targets food retailers and food retail suppliers in areas lacking grocery stores and healthy food options. Funding can also be used for business support, such as market studies, business planning, and store design.
This initiative aims to address food deserts, areas with limited access to affordable, healthy food. By supporting food retailers and suppliers, the program creates new market opportunities for farmers and ranchers, strengthens local economies, and provides job opportunities.
Photo Credit: usda
Categories: National