New Jersey Food Access Initiative June 17, 2009

The Reinvestment FundDon Hinkle-Brown

The Reinvestment Fund builds wealth and opportunity for

low-wealth people and places through the promotion of

socially and environmentally responsible development.

TRF Profile

Real Estate Development

Policy Solutions

Business Lines

Lending and Investing

$850 million in cumulative investments and loans throughout the mid-Atlantic

Currently manage $568 million in capital, with nearly 830 investors

PolicyMap

PA Fresh Food Financing Initiative

Managed by TRF

Lead Partners– The Commonwealth of

Pennsylvania– The Food Trust– The Reinvestment Fund– Greater Philadelphia Urban

Affairs Coalition

Funding– $30 million in public funds– $90 million in private capital

PA Fresh Food Financing Initiative

NJ Food Access Initiative: Pilot Funders

Brick City Development Corporation Living Cities Catalyst FundNJEDATRF

NJ Food Access Initiative: Products

Acquisition and site assemblyConstruction and renovationFF&E term loansNMTC financing

NJ Food Access Initiative: Eligible Borrowers

real estate developers with a supermarket tenantsupermarket operators needing leasehold and equipment finance

Examples

• Adam’s MarketReceived $1.9 million loan for leasehold renovations. Also received $1.1 loan million for equipment finance. Store is located in a very distressed neighborhood of Wilmington, DE.

• First Oriental Market Received a $500,000 subordinate loan. One of the largest Asian supermarkets in Philadelphia, it employs 32 people.

Success Factors

Management Expertise– multi-year operating

experience

Owners' Equity– 10% or more cash equity at

risk

Market Knowledge– strong ability to cater to

local market

Workforce– experience and funds for

training and launch