Transcript Food Deserts Presentation

Cincinnati Fresh Food Retail
Financing Fund
Today’s Presentation
 Background
 Detailed Response to Motion
Rationale: Why a Fund
Need in Cincinnati: Supermarket Sales, Income, and Health
Structuring a Fund
How much is needed?
 Questions
Background
 City’s Food Access Task Force Appointed 2009
 2010 Taskforce Report to City Council
 14 Recommendations - 3 Goal Areas
 Improve Access to Healthy Foods
 Provide Transportation Options for Low-Income Residents
limited Access to Healthy Foods
 Raise Awareness of the Importance of Healthy Eating
with
Motion from City Council
Rationale: Why a Fund
Ohio has the 13th highest rate of adult obesity
at 26.9% and the 12th highest rate of youth
obesity at 12.5%.
A number of states, in addition to the federal
government, are initiating projects modeled
on the Pennsylvania Fresh Food Financing
Initiative.
Goals of the Fund
Increase access to fresh foods in traditionally
underserved communities
Provide quality employment opportunities in
these neighborhoods.
Serve as a catalyst for neighborhood
revitalization
Identifying Areas of
Greatest Need
How could a fund operate?
Partnerships
 Center for Closing the Health Gap
 Cincinnati Development Fund
 City of Cincinnati
 Ohio Grocers Association
 Brandt Retail Group
 PNC Bank
How Much Is Needed?
City Investment:
$5 mil/year for next 3 years
Asking City of Cincinnati make an initial
investment of $15 million ($5 million/year
over the next three years) to seed the fund.
Money will be granted to a qualifying CDFI
which will leverage these dollars 2:1 for a total
public private fund of 45 million.
What will $15 million do?
 Based on PA data projects on average
received $1.4 mil.
Currently there is a grocery gap of 10
stores in Cincinnati. This investment will
close the gap.
Additional Recommendations
Additional Recommendations
Prioritize food retailing; expedite the opening of new
stores.
Employ up-to-date and data-driven market
information that highlights unmet market demand for
food to the supermarket industry and real estate
developers.
Additional Recommendations
Create economic development
Safe, affordable and efficient transportation services
Give priority to assembling land for supermarket
development
Additional Recommendations
Encourage green supermarket development and
renovation
Establish a single point of contact
Convene an advisory group of leaders from the industry
and civic sector