Central Texas Food Bank

Investment

  • NMTC Amount: $18,000,000
  • Total Project Cost: $24,080,320

IMPACT

  • 171 FTE jobs
  • 59 construction jobs
  • 28 jobs created, 143 retained. 100% will pay above the MIT living wage for 2 adults (both working) and 1 child of $17.97/hour for McLennan County. The new positions will have an average wage of $31.14 annually. Of the newly created positions at CTFB, 86%
  • 65,000 sq. ft. of real estate

Investor

Project Description

RDP allocated $15 million of New Markets Tax Credits to fund the construction and build-out of a 65,000 square foot facility in Waco, Texas, situated on just over 11 acres of land in McLennan County. This location, which would serve the 9 northern counties of CTFB’s 21 county region, solves logistical, programmatic service and accessibility challenges for the northern region by placing a facility where it is needed most. The investment expands CTFB’s fresh food distribution capacity across the project’s nine county predominate service area (5 rural), by 4.5MM meals (from 30MM meals to 34.6MM, a 15% increase). The project expects to provide 2.7MM pounds of nutrious food to rural households, which translates to 2.2MM meals to low-income, food insecure rural individuals – equating to 4,549 low-income, food insecure rural individuals a year (based on FAHM’s 42 meals per person per month benchmark). Additionally, CTFB works with over 41 rural distribution networks including mobile pantries, schools, churches, and more – the Project supports CTFB’s efforts to continue growing distribution partnerships in these areas.

MAP

Address: 1402 Gholson Rd, Waco, Texas 76704

The Pagedale Town Center, part of a broad community development initiative in a inner ring suburb of St. Louis.
The expansion of the facility allowed the food bank to distribute an additional 36 million pounds of food, which is the equivalent of an additional 30 million meals for hungry
NMTC financing for a 620,000 sq. ft. office, warehouse, and distribution center created 40 new jobs and 150 construction jobs in Los Angeles.