CDFA is pleased to partner with Opportunity Appalachia to bring their Investor Convening to a national audience on February 23-24, 2021. The virtual event will include 16 Opportunity Zones projects ready for investment in West Virginia, Virginia, and Ohio along with panel discussions about the importance of linking capital to rural Appalachian communities. Registration is now open and all interested stakeholders are encouraged to attend.

The Economic Development Administration is awarding a $3.5 million grant to the Carneys Point Township Sewer Authority in New Jersey. The grant will provide sanitary sewer service infrastructure improvements. The EDA grant, to be located in an Opportunity Zone, will be matched with $3.5 million in local funds and is expected to create 4,250 jobs and generate $547 million in private investment.

CDFA Board Member Ira Weinstein from CohnReznick and Steve Glickman of Develop Advisors were interviewed about Opportunity Zones and how investments have evolved over time. Topics discussed include capital gains, popular metro areas for investment, potential changes to the OZ incentive, and creating investor certainty.

Governor Larry Hogan announced $500,000 in grant awards to 13 small businesses to support investment in Maryland's designated Opportunity Zones. The microgrants, offered through the Maryland Department of Housing and Community Development's Neighborhood BusinessWorks Program, range from $10,000 to $50,000 for start-up and expanding businesses located within one of the state's Opportunity Zones.

CDFA Federal Financing Webinar Series: Restoring Local Economies with Federal Partners
Tuesday, February 9, 2021 - 2:00 PM Eastern

Intro Opportunity Zones Finance WebCourse
April 28-29, 2021 - 12:00 - 5:00 PM Eastern

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This investment profile from the Economic Innovation Group showcases 698 Prospect, a multi-phase development in North Carolina that includes student housing, commercial, and retail space. Impact investor Woodforest CEI-Boulos Opportunity Fund was joined by community lender Self-Help Credit Union to capitalize Phase I of 698 Prospect.

This investment profile from the Economic Innovation Group showcases Agile Space Industries located in Durango, CO. Agile designs, manufactures, and tests integrated aerospace propulsion systems, and has the only independent propulsion test facility in the United States. Opportunity Zones equity of approximately $950,000 has been invested in the company to date.

This investment profile from the Economic Innovation Group showcases the MLK Gateway in Washington, DC. Located in the Anacostia neighborhood, MLK Gateway will bring new life to a historic Main Street corridor through a center of commerce, culture, and technology; foster community prosperity; and provide a vibrant mix of neighborhood-serving retail. Financing on the project includes OZ equity, NMTC equity, grants, credit enhancement, pre-development loans, and construction loans.

To ensure that Virginia's coal country doesn't miss out on opportunities in large-scale solar, the Solar Foundation and the Solar Workgroup of Southwest Virginia have developed a step-by-step guide for how municipalities and counties can encourage utility-scale or commercial solar projects. The playbook includes guidance on engaging stakeholders, identifying and resolving barriers, reviewing development proposals, and adopting local planning and zoning regulations to facilitate solar energy in legacy coal country. The publication also discussing financing options for using PACE, Opportunity Zones, and other programs to support solar projects.

This guide, authored by CDFA and Skeo, provides an overview of various development finance tools and suggestions for how communities could use these tools to finance projects in Opportunity Zones. Each section includes additional resources to learn more, along with case studies to illustrate how development finance tools have been used to support revitalization goals in several Opportunity Zones.

This quick guide, authored by CDFA and Skeo, outlines five key strategies for engaging Opportunity Zones investors including resources and tips that can help communities attract investment to their revitalization efforts.

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