Operation Food Search to Expand Headquarters with $11 Million New Markets Tax Credit Allocation
The Smith NMTC Associates team is thrilled to announce the closing of an $11 million New Markets Tax Credit-supported loan for Operation Food Search, Inc. (OFS) to grow its operations.
The hunger-fighting nonprofit will increase its programming and impact with the renovation of its Overland, Missouri headquarters to be completed later this year. The St. Louis Economic Development Partnership (STL Partnership) provided the $11 million New Markets Tax Credit (NMTC) allocation and U.S. Bancorp Impact Finance was the NMTC investor. Smith NMTC Associates, LLC provided NMTC services for the project.
Founded in 1981, Operation Food Search provides food and services to 200,000 individuals every month, one-third of whom are children, through a network of 330 community partners in 42 counties across Missouri and southern Illinois. In addition to providing food, OFS offers programs that provide nutrition education, help families prepare healthy meals on a budget, and advocate for policies that address food insecurity.
About the Project
Part of a three-year strategic plan, details of the renovation project were developed through a collaborative process that examined community needs and OFS capacity.
Features of the new-and-improved headquarters include:
- Over 2,000 square feet of additional freezer and cooler space
- More warehouse racking for shelf-stable food storage
- Expanded hydroponics program
- A new teaching kitchen and demonstration garden
- Improvements to volunteer and staff spaces
- Client meeting space
Construction is expected to be completed by the end of this summer.
About Operation Food Search
By channeling human capital and food resources, OFS tackles food insecurity in Missouri and Illinois through a comprehensive “upstream” perspective.
The organization has three service pillars:
- Meet the Immediate Need
OFS distributes $30 million worth of food and necessities each year in collaboration with nearly 200 partner agencies. This includes out-of-school meals for children and teens experiencing food insecurity and a mobile grocery store that provides access to nutritious food at cost for individuals living in St. Louis city and county neighborhoods that lack access to supermarkets.
- Build Nutrition IQ
OFS empowers people with the skills, knowledge, and confidence to cook healthy, affordable meals at home. The OFS team teaches hands-on, practical culinary skills to young adults, families, and seniors—with nutrition education included in every recipe. Programming also includes workshops and events for community groups and workplace wellness.
- Champion Change
In addition to advocating for policy that is responsive to nutrition access at the household and community level, OFS’s “Fresh Rx” program is collecting data to demonstrate that food is medicine and to understand the best ways to implement programs that help manage chronic health conditions and prevent adverse health outcomes.
About STL Partnership
The St. Louis Economic Development Partnership provides economic development services for the City of St. Louis and St. Louis County. STL Partnership works in collaboration with the St. Louis Development Corporation, Greater St. Louis, Inc., the Missouri Department of Economic Development, the Missouri Partnership and other economic development partners to attract, retain, and grow companies coming to or expanding in the St. Louis region.
About Smith NMTC Associates
In 2007, Smith NMTC Associates pioneered the use of New Markets Tax Credits (NMTCs) for affordable homeownership development—transforming communities and the lives of families throughout the United States.
Today, we help CDEs and nonprofit developers leverage the NMTC program to increase access to for-sale affordable housing and community facilities.
We partner with mission-driven and like-minded organizations to expand the impact of NMTCs on affordable homeownership opportunities. We’d love to discuss how you can use the NMTC program to further serve your community and your constituents. Learn more about how we can help here.