CDFA - Opportunity Zones Resource Center

Opportunity Zones, created as a result of the passage of the Tax Cuts and Jobs Act, are low-income census tracts eligible to use tax incentives to encourage long-term investments in Zone assets and property. Opportunity Zones are designated as such by the governor or chief executive of a given state, district, or territory. All 50 states, the District of Columbia, and U.S. territories are eligible to designate Opportunity Zones.

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Superfund Redevelopment Using Opportunity Zone Tax Incentives Members only

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Opportunity Zones are a powerful way to encourage revitalization in economically distressed communities. Redevelopment of current or former Superfund sites may qualify for Opportunity Zone tax benefits. View this EPA fact sheet for more information.

Five Strategies for Engaging Opportunity Zone Investors

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.

Leveraging Development Finance Tools to Attract Opportunity Zone Investment

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.

How to Create an Investor Ready Project - The Opportunity Exchange

The first piece in the Opportunity Exchange’s Community Development Playbook deals with a big roadblock projects face - getting funded. When it comes to getting investors interested, the secret to success is a great project pitch. This piece breaks down the six essential elements of every great project profile, the best practices for each, and offers real examples from public projects on The Opportunity Exchange.

Tax Incentives for Opportunity Zones - Congressional Research Service

This Congressional Research Service report discusses (1) which census tracts have been designated as an OZ, (2) what types of entities are eligible as QOFs, (3) the tax benefits of investments in QOFs, (4) a summary of IRS/Treasury regulations implementing OZs, (5) what economic effects can be expected from OZ tax incentives, and (6) what policy issues Congress has raised with respect to OZs.

View all Opportunity Zones Resources

-Official Treasury Designations

The U.S. Department of the Treasury has approved Opportunity Zones in every state and territory. Click on any of the links below to see where Opportunity Zones are located. A comprehensive list of all designated Opportunity Zones is available from the CDFI Fund.

-Rules and Regulations

The U.S. Department of the Treasury has completed the process of codifying the regulatory framework for the Opportunity Zones incentive. This section is dedicated to analysis of the final Opportunity Zones regulations.

View the Final Regulations

Superfund Redevelopment Using Opportunity Zone Tax Incentives Members only

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Opportunity Zones are a powerful way to encourage revitalization in economically distressed communities. Redevelopment of current or former Superfund sites may qualify for Opportunity Zone tax benefits. View this EPA fact sheet for more information.

Superfund Redevelopment Program Webinar Series - Opportunity Zones and Superfund Sites Members only

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There are over 300 Superfund National Priorities List sites and thousands of Superfund removal sites located in or partially in Opportunity Zones. This webinar discussed Opportunity Zone tax benefits in the context of redeveloping Superfund sites and other types of contaminated properties and how communities, local governments, and developers can utilize these benefits.

Tax Incentives for Opportunity Zones - Congressional Research Service

This Congressional Research Service report discusses (1) which census tracts have been designated as an OZ, (2) what types of entities are eligible as QOFs, (3) the tax benefits of investments in QOFs, (4) a summary of IRS/Treasury regulations implementing OZs, (5) what economic effects can be expected from OZ tax incentives, and (6) what policy issues Congress has raised with respect to OZs.

Opportunity Zone Rule Changes Due to COVID-19 - Frost Brown Todd

In response to the ongoing COVID-19 pandemic, the IRS recently issued IRS Notice 2020-39, which provides certain relief related to the calculation of time-sensitive deadlines under the federal Opportunity Zone program outlined in Internal Revenue Code Section 1400Z-2 and the underlying Treasury Regulations. This post from Frost Brown Todd analyzes these regulatory changes.

Qualified Opportunity Zones: What Investors Should Know - Wells Fargo

This analysis from Wells Fargo discusses what investors need to know about Qualified Opportunity Zones. Wells Fargo Bank will also be publishing companion article(s) which will provide a more in-depth analysis of the operation of Qualified Opportunity Zone funds and how taxpayers may navigate this new topic.

-Opportunity Funds Resources

Opportunity Zones: State of the Marketplace 2021 Members only

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This 2021 EIG report explores whether the Opportunity Zones policy and regulations are working as intended, what its early effects have been, and details the improvements needed to ensure the policy fulfills its promise. While the early findings from the field provide cause for optimism, there is room for policy improvements and continued opportunities to educate investors, local leaders, and other stakeholders.

How States Can Direct Economic Development to Places and People in Need Members only

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To address local disparities and help struggling areas thrive, governments at all levels have spent billions of dollars on a range of geographically targeted, or "place-based," economic development programs — mostly in the form of financial incentives — designed to boost job creation and business investment, incentivize real estate development, or increase property values in specific places. The Pew Charitable Trusts performed a literature review of more than 100 studies to better understand the reasons for the lack of effectiveness of place-based programs.

Five Strategies for Engaging Opportunity Zone Investors

CDFA Original Research | Community Development | 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.

Leveraging Development Finance Tools to Attract Opportunity Zone Investment

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.

The Impact of Opportunity Zones: An Initial Assessment Members only

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Access to Capital | Community Development | Economic Development | Federal | Opportunity Zones

This report from the White House' Council of Economic Advisers compares the advantages of OZs with those of other Federal antipoverty programs and documents the characteristics of the nearly 8,800 low-income communities designated as OZs. It also quantifies the effect of OZs investment and finds that a large increase is already benefiting OZ residents while potentially having only a small effect on the Federal budget.

View more Oppportunity Funds Resources

-Opportunity Zones Resources

Superfund Redevelopment Using Opportunity Zone Tax Incentives Members only

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Opportunity Zones are a powerful way to encourage revitalization in economically distressed communities. Redevelopment of current or former Superfund sites may qualify for Opportunity Zone tax benefits. View this EPA fact sheet for more information.

Superfund Redevelopment Program Webinar Series - Opportunity Zones and Superfund Sites Members only

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There are over 300 Superfund National Priorities List sites and thousands of Superfund removal sites located in or partially in Opportunity Zones. This webinar discussed Opportunity Zone tax benefits in the context of redeveloping Superfund sites and other types of contaminated properties and how communities, local governments, and developers can utilize these benefits.

The Impact of the Opportunity Zone Program on the Residential Real Estate Market Members only

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Economic Development | Housing Finance | Opportunity Zones

The authors of this study examine the impact of OZs on residential real estate by exploiting two datasets: a proprietary real estate dataset and census-tract demographics data between 2010 and 2019. They find that tracts with higher poverty and unemployment rates and lower income levels were more likely to be selected. However, they find evidence that tracts with a higher average real estate price were also more likely to be selected.

Opportunity Zone Prospectus - Newport, Vermont Members only

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Access to Capital | Opportunity Zones

This is an Opportunity Zone Prospectus for Newport, Vermont.

Opportunity Zone Prospectus - Lyndon, Vermont Members only

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Access to Capital | Opportunity Zones

This is an Opportunity Zone Prospectus for the city of Lyndon, Vermont.

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Superfund Redevelopment Program Webinar Series - Opportunity Zones and Superfund Sites Members only

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There are over 300 Superfund National Priorities List sites and thousands of Superfund removal sites located in or partially in Opportunity Zones. This webinar discussed Opportunity Zone tax benefits in the context of redeveloping Superfund sites and other types of contaminated properties and how communities, local governments, and developers can utilize these benefits.

Opportunity Zone Prospectus - Newport, Vermont Members only

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This is an Opportunity Zone Prospectus for Newport, Vermont.

Opportunity Zone Prospectus - Lyndon, Vermont Members only

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This is an Opportunity Zone Prospectus for the city of Lyndon, Vermont.

Opportunity Zones Prospectus - Brattleboro, Vermont Members only

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This is an Opportunity Zones prospectus for Brattleboro, Vermont. It was authored in partnership with the Brattleboro Development Credit Corporation.

Opportunity Zone Investment Guide - City of Winooski, Vermont Members only

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This is an Opportunity Zone Investment Guide for the City of Winooski, Vermont.

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Interactive Mapping Tools for Opportunity Zones

Interactive online maps can be used to find Opportunity Zone census tracts across the U.S. Below are links to several mapping tools:

CIMS - Department of the Treasury CDFI Fund
Opportunity Zones and NMTC Interactive Map - CohnReznick
Opportunity Zones Explorer by Opportunity360 - Enterprise Community Partners

Opportunity Zone Firms Combining Cryptocurrency, Blockchain, and OZs
The Opportunity Zones Database | Apr. 5 | Agriculture Finance | Legislative | Opportunity Zones

Indiana Rural Opportunity Zone Initiative Selects Six Communities
Daily News | Mar. 26 | Opportunity Zones | Rural Development | State Finance Program

Opportunity Zone Investors in Ohio Leave $10M in State Tax Credits Unclaimed
Crain's Cleveland Business | Mar. 26 | Economic Development | Opportunity Zones | Tax Credits

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Five Strategies for Engaging Opportunity Zone Investors

CDFA Original Research | Community Development | 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.

Leveraging Development Finance Tools to Attract Opportunity Zone Investment

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.

Navigating the Opportunity Zones: A Playbook for Community Development

Access to Capital | Bond Finance | CDFA Original Research | Opportunity Zones

CDFA and LISC collaborated on this report, which is designed to offer community organizations an overview of the possible trajectories and best practices to consider when designing community-based Opportunity Zones strategies.

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

The Intro Opportunity Zones Finance WebCourse will bring together program designers, fund managers, communities, investors, and policy experts to educate and review the most up-to-date thinking and strategies on how to maximize Opportunity Zone designations and how best to attract zone investments. This interactive webcourse will help communities bring all economic development stakeholders to the table, and have a firm understanding of how the development finance toolbox can both encourage and supplement Opportunity Fund investments.

Register

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

The Intro Opportunity Zones Finance WebCourse will bring together program designers, fund managers, communities, investors, and policy experts to educate and review the most up-to-date thinking and strategies on how to maximize Opportunity Zone designations and how best to attract zone investments. This interactive webcourse will help communities bring all economic development stakeholders to the table, and have a firm understanding of how the development finance toolbox can both encourage and supplement Opportunity Fund investments.

Register

CDFA Federal Financing Webinar Series: Federal Programs for Affordable Housing Investment
Tuesday, May 11, 2021
2:00 PM - 3:30 PM Eastern

During this installment of the CDFA Federal Financing Webinar Series, experts will cover how development finance agencies can leverage financing from the federal government to support housing projects in their communities.

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

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will be discussing creative financing approaches to minimize barriers and increase access to capital for minority-owned businesses across the country.

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

During this installment of the CDFA Federal Financing Webinar Series, several federal agencies will discuss their financing solutions for local community facilities and how to coordinate with partners.

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CDFA Federal Financing Webinar Series: Preserving Local Food Systems with Federal Financing
Tuesday, December 14, 2021
2:00 PM - 3:30 PM Eastern

During this installment of the CDFA Federal Financing Webinar Series, hear from experts at the USDA about their various programs available for rural food systems and agricultural producers to recover from the pandemic.

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Superfund Redevelopment Program Webinar Series - Opportunity Zones and Superfund Sites Members only

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There are over 300 Superfund National Priorities List sites and thousands of Superfund removal sites located in or partially in Opportunity Zones. This webinar discussed Opportunity Zone tax benefits in the context of redeveloping Superfund sites and other types of contaminated properties and how communities, local governments, and developers can utilize these benefits.

COVID-19 Weekly Briefing - Strategies for Catalyzing Investment in Communities

During the April 10, 2020 Weekly COVID-19 Development Finance Briefing, Bruce Katz from Drexel University, Rachel Reilly from the Economic Innovation Group, and Katie Kramer from CDFA examined relief efforts run by local governments, philanthropic organizations, chambers, and other local entities to support main street.

The Substance and Significance of the Final Regulations on Opportunity Zones - EIG

Opportunity Zones | Webcasts

EIG hosted a webinar with guest experts to discuss the final regulations on Opportunity Zones, released by Treasury and the IRS on December 19, 2019. Lisa Zarlenga of Steptoe & Johnson LLP and Michael Novogradac of Novogradac & Company LLP provided a detailed overview of key provisions, discussed how the newly-minted rules may influence investment activity, and highlighted topics that were not addressed as part of the final regulatory framework.

Brownfields Redevelopment Financing Webinar Series: New Community Financing Strategies for Brownfields: Opportunity Zones

Brownfield Financing | Opportunity Zones | Webcasts | U.S. Environmental Protection Agency (EPA)

Webcast panelists explored how communities are preparing themselves for Opportunity Zone investments and with the release of new proposed regulations, how this emerging industry is beginning to mold its first deals. Speakers also examined how communities across the U.S. are integrating these new strategies with current and future redevelopment plans, with a specific focus on brownfields sites.

CDFA Texas Webinar: The Latest on Opportunity Zones

Opportunity Zones | Webcasts

During this webinar, attendees will delve into the basics of Opportunity Zones and Opportunity Funds, how to identify qualified projects and businesses, and the ways to build a local investment strategy.

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