Background Detailed Response to Motion

Background

• 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

• 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 with limited Access to Healthy Foods
• Raise Awareness of the Importance of Healthy Eating

Ohio has the 13th highest rate of adult obesity at 26.9% and the 12th highest rate of youth obesity at 12.5%.

• 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.

• Increase access to fresh foods in traditionally underserved communities

• Provide quality employment opportunities in these neighborhoods.

• Serve as a catalyst for neighborhood revitalization

• How could a fund operate?

• Center for Closing the Health Gap

• Cincinnati Development Fund

• City of Cincinnati

• Ohio Grocers Association

• Brandt Retail Group

• PNC Bank

Asking City of Cincinnati make an initial investment of $15 million ($5 million/year over the next three years) to seed the fund.

• 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.

Based on PA data projects on average received $1.4 mil.

• 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.

• 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.

• Create economic development

• Safe, affordable and efficient transportation services

• Give priority to assembling land for supermarket development

• Encourage green supermarket development and renovation

• Establish a single point of contact

• Convene an advisory group of leaders from the industry and civic sector