7 U.S. Code § 6953 - Healthy food financing initiative
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The purpose of this section is to enhance the authorities of the Secretary to support efforts to provide access to healthy food by establishing an initiative to improve access to healthy foods in underserved areas, to create and preserve quality jobs, and to revitalize low-income communities by providing loans and grants to eligible fresh, healthy food retailers to overcome the higher costs and initial barriers to entry in underserved areas.
In this section:
(1) Community development financial institution
The term “Initiative” means the Healthy Food Financing Initiative established under subsection (c)(1).
(3) National fund manager
The term “national fund manager” means a community development financial institution that is—
(B) certified by the Community Development Financial Institution Fund of the Department of Treasury to manage the Initiative for purposes of—
The term “partnership” means a regional, State, or local public-private partnership that—
(5) Perishable food
The term “perishable food” means a staple food that is fresh, refrigerated, or frozen.
(6) Quality job
The term “quality job” means a job that provides wages and other benefits comparable to, or better than, similar positions in existing businesses of similar size in similar local economies.
The Secretary shall establish an initiative to achieve the purpose described in subsection (a) in accordance with this subsection.
(A) In general
(i) In general In carrying out the Initiative, the Secretary shall provide funding to entities with eligible projects, as described in subparagraph (B), subject to the priorities described in subparagraph (C).
(ii) Use of funds Funds provided to an entity pursuant to clause (i) shall be used—
(I) to create revolving loan pools of capital or other products to provide loans to finance eligible projects or partnerships;
(III) to provide technical assistance to funded projects and entities seeking Initiative funding; and
(B) Eligible projects
Subject to the approval of the Secretary, the national fund manager shall establish eligibility criteria for projects under the Initiative, which shall include the existence or planned execution of agreements—
(i) to expand or preserve the availability of staple foods in underserved areas with moderate- and low-income populations by maintaining or increasing the number of retail outlets that offer an assortment of perishable food and staple food items, as determined by the Secretary, in those areas; and
In carrying out the Initiative, priority shall be given to projects that—
(i) are located in severely distressed low-income communities, as defined by the Community Development Financial Institutions Fund of the Department of Treasury; and
(ii) include 1 or more of the following characteristics:
(II) The project supports regional food systems and locally grown foods, to the maximum extent practicable.
Source(Pub. L. 103–354, title II, § 243, as added Pub. L. 113–79, title IV, § 4206,Feb. 7, 2014, 128 Stat. 824.)
References in Text
The Food and Nutrition Act of 2008, referred to in subsec. (c)(2)(B)(ii), is Pub. L. 88–525, Aug. 31, 1964, 78 Stat. 703, which is classified generally to chapter 51 (§ 2011 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2011 of this title and Tables.