colorado fresh food financing fund (co4f)

Walsh Community Grocery Store, CHFA business lending customer

In 2006, the only full-service grocery store in Walsh closed and residents had to travel 20 miles out of town for groceries. A citizen-led committee formed, led by the mayor, to reopen the store and bring fresh food access back to the community. Now, Walsh Community Grocery Store is operated by a board of directors, and owned by community groups and members. 

Read the full customer success story here.

Goals

• ​​Improve retail access to fresh and healthy foods; 
• Encourage economic development in low- to moderate-income neighborhoods; 
• ​Provide attainable financing to food retail outlets that improve food access; 
• Partner with local governments when possible to enhance the benefits and successes; and 
• Develop a Colorado model based upon national best practices.

CO4F Financing Uses

• Business start-up and expansion costs
• Opening a new store
• Keeping a store open under new ownership
• New or upgraded equipment and displays
• Land assembly
• Developing an innovative business concept

About

The seed funding for CO4F comes from The Colorado Health Foundation, which developed this initiative based on research on food access barriers in Colorado communities and national Fresh Food Financing best practices. CO4F is partnering with the Colorado Enterprise Fund (CEF)​ to finance small and innovative fresh food concepts. Progressive Urban Management Associates (P.U.M.A.) serves as the Food Access Organization for the Fund, providing general information to prospective borrowers. The Colorado Housing and Finance Authority (CHFA) serves as the fund administrator and manages the allocation of grants and loans.

History

In fall of 2011, the Denver Food Access Task Force released "Healthy Food for All: Encouraging Grocery Investment in Colorado," which outlined policy recommendations to improve access to affordable, healthy food and stimulate economic development in Denver and throughout Colorado.

Using those recommendations as a blueprint, a CO4F working group explored ways to remove barriers that prevent Colorado's underserved population from obtaining healthy food. The working group was chaired by Cameron Bertron of EFG Brownfield Partners. Other representatives were from the Colorado Health Foundation, CHFA, the Denver Department of Environmental Health, the Denver Office of Economic Development, the Colorado Enterprise Fund, the Mile High Community Loan Fund and the Rocky Mountain Farmers Union.