Low Income Investment Fund

Low Income Investment Fund (LIIF) is using HFFI funding to provide financing and technical assistance to food markets located in, or planning to locate in, low- to-moderate-income communities that lack access to affordable, healthy food. LIIF has funded projects in Louisiana, New Jersey, New York, and Pennsylvania. Some of the funds from the award were used to support the transformation of a 65,000-square-foot abandoned supermarket in New Orleans into the ReFresh Market, an integrated healthy food center. LIIF has invested over $2.3 billion in capital, serving over 2 million people and generating over $59 billion in family and societal benefits.

  • Total amount financed for healthy food projects: $52 million
  • Total amount leveraged: $199.5 million
  • Total amount of dollars granted: $3.225 million
  • Total amount of square footage: 651,251
  • Total amount of people served: 217,084

HFFI Project and Impacts

  • ReFresh, New Orleans
    • 65,000 square foot abandoned building transformed into a mixed-use community hub
    • $19 million in total project costs
    • $1 million in total funds provided by the New Orleans Fresh Food Retailer Initiative$1.5 million total funds from LIIF's HFFI allocation
    • $500,000 forgivable loan component
    • 25,000 sq. ft. food retail space
    • Over 20,000 residents in surrounding area served by store, of which 50% are low-to-moderate income

Source of money: HFFI CDFI-Financial Assistance Program; Fiscal year(s): 2011, 2013, 2014