For economic developers, the new Opportunity Zone Program, created as part of the 2017 Tax Reform Package, is worth a look. The zones are a new incentive program to encourage investment in low-income communities. State and territory governments have designated their distressed areas as potential Opportunity Zones. Private investors are eligible for tax incentives, such as capital gains tax deferrals. This concept has potential to spur investments in distressed communities across the US. To read more about the Economic Innovation Group, click here.
Click here to view Federal Opportunity Zones What Local Governments Need to Know.
Click here to view NADO Opportunity Zones.
Click here to view Opportunity Zones Frequently Asked Questions Internal Revenue Service.
Click here to view the Opportunity Zones in the UCPCOG Region.
Click here to view the 2018 CEDS Annual Report.
The Opportunity Zone Fund Directory is a compilation of Opportunity Zone funding opportunities. This resource provides descriptions and contact information for publicly-announced funds that have been formed for the purpose of attracting investment in Opportunity Zones. NCSHA is tracking only multi-project opportunity funds.
Click here to view the Opportunity Zone Fund Directory.
NCSHA will update the directory regularly and invites funds to submit details for inclusion by completing the submission form. Please contact Jim Tassos with additions, questions, or comments. Subscribe to NCSHA Opportunity Zone Fund Directory updates.
Resouce Link: https://www.richmondfed.org/press_room/our_news/2018/20181219_opportunity_zones_programs