The Atlanta Journal-Constitution detailed BlueHub Capital's $13 million New Markets Tax Credit investment in the Atlanta Community Food Bank. An excerpt:
"Kyle Waide, the Food Bank’s president and CEO, said in a statement that their organization’s food distribution rate is up 65% during the pandemic. He said they spent $20 million on food last year.
“This investment has helped us not only offset expenses but really restore working capital so we can continue to be aggressive in responding to food insecurity in our community,” Waide said in a statement."
In addition, the Atlanta Community Food Bank is receiving millions of dollars to provide additional food and support to communities across Georgia, according to BlueHub Capital, a national nonprofit community development finance organization. On Tuesday, BlueHub announced it’s making a $5.8 million New Markets Tax Credit investment in the Food Bank, which gives food to more than 700 nonprofits in 29 Georgia counties.
Hunger Action volunteers sort food into their appropriate boxes at the Atlanta Community Food Bank Thursday, 23, 2021. The Food Bank’s initiatives are crucial for addressing the increased demand, which surged by 65% during the pandemic. Last year alone, they spent $20 million on food to meet the needs of the community. This investment will help offset these expenses and restore working capital, enabling the Food Bank to continue its aggressive response to food insecurity in the area.
Steve Schaefer for The Atlanta Journal-Constitution captured images of the Hunger Action volunteers at work, highlighting the community's effort to tackle hunger.