CDFA is proud to announce the launch of the new Opportunity Zones Update newsletter. This free monthly newsletter will feature news, resources, case studies, and event information related to Opportunity Zones and Opportunity Funds. We will send the first two editions to our entire network, and then to only those who subscribe. Please subscribe today!

The Kresge Foundation and The Rockefeller Foundation received 141 responses from fund managers from across the nation who are creating Opportunity Funds and attempting to raise billions in new capital to spur a range of community development investments via this new tax benefit. 

OMB's Office of Information and Regulatory Affairs has acknowledged receipt of proposed regulations from Treasury to provide guidance concerning capital gains invested in Opportunity Zones pursuant to provisions under the new U.S. tax law. The proposed regulations will be released once OIRA review is completed.

Interest in opportunity zones is abundant. Information is not. That's why more than 200 investors, local leaders and policymakers from more than 40 states turned up at Georgetown last week for an opportunity zone pow-wow hosted by the Beeck Center and the Council of Development Finance Agencies.

Enterprise Community Partners is joining forces with Rivermont Capital and Beekman Advisors to launch an "Opportunity Fund" focused on local business development and entrepreneurship. The Rivermont Enterprise Emergent Communities Fund, targeted at $250 million, will invest in small towns and rural areas in the Southeast.

Despite growing interest in Opportunity Funds and investing in Opportunity Zones, the law does not address many practical issues of how Opportunity Funds will operate and the timing for compliance measures. Very little guidance has been given to date, however, it is expected that additional guidance will be provided by the Treasury Department soon.

Goldman Sachs is racing to make use of Opportunity Zones and potentially popularize it on Wall Street. Days after the legislation passed, Goldman Sachs created an opportunity fund to invest in a project that will add affordable housing to New York's Jamaica neighborhood.

In this webinar, Enterprise's Rachel Reilly, Zack Patton, and CDFA's Katie Kramer provide an update on Opportunity Zones. They discuss who's launching Opportunity Funds, provide updates from the Hill and the latest on additional guidance from the IRS; and how cities, regions, and states are planning for investment.

In this special report CDFA documents the current status of the Opportunity Zones incentive in states around the country. Using both statistical and anecdotal information gathered from recent surveys and conversations, CDFA highlights the work being done by states as they prepare for the first Opportunity Fund investments.

In an ideal world, Opportunity Zones designations will infuse capital into low-income, historically marginalized communities. But without clear guidelines in place, will those benefits materialize? This profile from Next City features CDFA VP Katie Kramer, in addition to other close partners of CDFA.

Register now to receive the best rates for the 2018 CDFA National Development Finance Summit on November 7-9. During the event you will meet industry experts from public and private sectors and have the ability to connect with financing, learn about the latest approaches, and discover development finance solutions to bring to your local community. Don't miss out on our biggest event of the year!

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Enterprise Community Partners provides an updated look at Opportunity Zones, as well as a look at what's ahead.

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