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At the meeting, the group will continue discussion about issues
facing local family farmers and rural communities and will also
talk about recent FSIA activities and future strategy for
addressing the issues that face local communities. The meeting
will focus on the FSIA-Regions Bank "Family Farm Plan"
low-interest loan program, University of Illinois farm
management progress and other related rural community
reinvestment work. Recent FSIA news
University of Illinois -- FSIA met with Doug Beckmann,
University of Illinois senior associate vice president of
business and finance, along with university farm management, to
address the university's decision to seek high cash rent on its
26,000 acres of farmland -- land that was given to the
university. This decision will cost central Illinois communities
at least $10 million and net the university no more than $1
million.
Regions Bank -- FSIA is working with Regions Bank to create a
"family farm friendly" loan program. The program is targeted to
local family farmers. Low-interest operating loans will be made
available to family farmers who purchase their inputs from local
dealers. This Family Farm Plan will include a line of credit for
use at local input dealers. The Community Reinvestment Act
requires banks to invest in the local community. Since
agriculture is the primary industry in Lincoln and throughout
Logan County, sound community reinvestment in Logan County means
investing in local family farms. Urban communities have
benefited from implementation of the Community Reinvestment Act
for decades, and it is time for rural communities to benefit as
well. FSIA is at the forefront of national work to secure
community reinvestment for rural communities.
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JPMorgan Chase -- FSIA is reinitiating its negotiations with
JPMorgan Chase farm management. JPMorgan Chase and FSIA have been in
discussion about farm management policies and the effects of high
cash rent farmland on tenant farmers and local communities. New
evidence shows that high cash rent prices are more harmful to local
communities than previously believed. JPMorgan Chase is the
second-largest farm management company in the country, and FSIA
believes the company needs to be a leader in the agricultural
community and in local communities. Recently JPMorgan Chase reached
agreement with nonprofit community organizations about the company's
role in preventing environmental degradation. High cash rent prices
lead to poor farmland stewardship. When FSIA next meets with
JPMorgan Chase, the environmental impact and economic impact of high
cash rent farm management will be central.
* * * For more information, please contact Larry Huelskoetter,
biglar@dtnspeed.net or
(217) 949-5471, or Joel Janisewski,
joelj@insightbb.com or
(309) 830-2233.
To receive FSIA meeting notices and other updates via e-mail,
please send your e-mail address to
biglar@dtnspeed.net.
FSIA is organized through the
Central Illinois Organizing Project, a faith-based community
that "empowers God's people to become full partners in the
decision-making process on issues that affect their families,
communities and region."
[News release provided by Joel Janisewski] |
