LISC, with support from the Ford Foundation and in collaboration with CDFA, has released Navigating the Opportunity Zones: Community Partners. The release is the first installment of the LISC Opportunity Zones Playbook series, and is geared to the people and organizations committed to community revitalization and shared prosperity for all residents. The playbook is broken into six community action steps.

Nevada will soon have a new tool to help developers build affordable housing for low- and moderate-income residents in the state. Gov. Steve Sisolak signed legislation that creates a transferable state housing tax credit with an annual cap of $10 million. The program expires Jan. 1, 2030.

Several states add tax incentives to their OZs as well as extending their state Historic Tax Credits. Maryland expanded state tax incentives to OZs, Hawaii to conform to the IRS Code for investments in federal OZs, and legislation in Texas to create a 25 percent tax credit for investments in OZs.

NHIA tax credits would fuel rehabilitation of deteriorated single-family homes. Sponsors could use the credits to raise investment capital for their projects, and the investors could claim the credits against their federal income tax when the homes are sold and occupied by middle-income home buyers.

New Jersey Governor Murphy announced a plan to revamp New Jersey's economic development tax incentives programs, including proposed legislation to establish new incentive programs to incentivize certain redevelopment and other economic activities.

The investment is part of a $1 billion House NY initiative to preserve the state's aging Mitchell-Lama housing through commitments to long-term affordability and building improvements. The state's investment will preserve the project's affordability of approximately 482 apartments.

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During this installment of the CDFA // BNY Mellon Webcast Series, expert speakers from CAI Global, Baltimore Development Corporation, Arlington Economic Development, and VEDP provided an in-depth overview of the approaches being used by cities, counties, and states to attract mega projects like Amazon HQ2 and Under Armour.

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