Qualified opportunity funds (QOFs) tracked by Novogradac raised $17.52 billion in equity as of midyear, according to the Novogradac Opportunity Zones Investment Report: Data Through June 30, 2021.

Attracting investors to rural Opportunity Zones is a well-known challenge. Federal Reserve data show that at least 60% of opportunity zones in Texas are at least partially in a rural census tract. In order to attract investment in these rural Opportunity Zones, local leaders must be able to identify priority projects and businesses and build a local investment strategy. On September 7, join CDFA and TEDC to learn best practices and tips for economic development practitioners on driving investments into rural Opportunity Zones in Texas.

Reps. Michelle Steel (CA-48), María Salazar (FL-27), Burgess Owens (UT-04), and Carlos Giménez (FL-26) introduced the Growth and Opportunity Act legislation to extend Opportunity Zones past their current expiration of 2026.  H.R. 4608 would provide for the designation of new qualified Opportunity Zones every ten years, and a new Opportunity Zone tax incentive round would begin on January 1, 2027.

CDFA // BNY Mellon Development Finance Webcast Series: Unlocking Capital for BIPOC-owned Businesses
Tuesday, August 17, 2021 - 2:00 PM - 3:00 PM Eastern

CDFA Federal Financing Webinar Series: Investing in Critical Community Facilities
Tuesday, August 24, 2021 - 2:00 PM - 3:30 PM Eastern

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To overcome binding constraints on the market's growth and maximize the potential of the new federal OZ incentives for Indiana communities, EIG authored this report and mapped out several strategies that should be considered to unlock more capital and strengthen local capacity.

The July 2020 Novogradac Journal of Tax Credits looks at various ways communities can assist in securing Opportunity Zone investments in affordable housing. Suggested strategies include combining OZs with other development finance tools, leasing city land to developers at a minimum price, applying for additional federal support, and more.

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