Section 1400Z,2 of the Tax Cuts and Jobs Act of 2017 created a new place-based tax incentive intended to spur economic development and job creation in distressed communities designated as “Opportunity Zones.” Although Opportunity Zones (OZs) are the...

In a post-COVID world, it will be imperative to invest in our underserved communities’ capacity to serve themselves, and in their resilience. Opportunity Zones are one tool to drive this effort. The Milken Institute has developed this state and...

Opportunity Virginia's 2019-2020 Annual Report discusses their goals and strategies to ensure that VA Opportunity Zones attract investments that will make inclusive and equitable economic growth a priority alongside the market-driven capital flows.

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...

In light of the unprecedented economic challenges presented by the COVID-19 outbreak, taxpayers with short-term or long-term capital gain income generated in 2019, or in early 2020, can use the OZ program to invest the qualified gains in a QOF for a...

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...

Despite being viewed primarily as an economic development tool in low-income communities—that is, positioning the local economy on a higher growth trajectory—many proponents have suggested that OZs also have a community development purpose of...

The Opportunity Zones tax incentive, created by the Tax Cuts and Jobs Act of 2017, was designed to spur investment in low-income and undercapitalized communities. The experiences of investors, developers, government officials, and business...

This is the third report issued by the White House Opportunity and Revitalization Council as required under Executive Order 13853, and outlines best practices that could be integrated into public and private investments in urban and economically...

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...

Ox Fibre Apartments will bring 83 new affordable apartments to Frederick, MD—a growing community located within one hour of both Washington, D.C. and Baltimore. Layering Opportunity Zones equity with state LIHTC, federal Historic Tax Credits (HTC),...

Parramore Oaks will bring 120 new energy-efficient homes and a boost of economic activity to a downtown Orlando, FL community. It is a new energy-efficient apartment building for families, bringing mixed-income with 96 affordable homes and 24...

Cleveland-based Sustainable Community Associates (SCA) have broken ground on their fourth development in the city—The Tappan—which will bring 95 new apartments and a bakery to the Tremont neighborhood.

This document provides an overview of information on Internal Revenue Service (IRS) regulations with respect to brownfields investment in Opportunity Zones. Learn more about how Opportunity Zones can help local governments meet goals for sustainable...

This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and...

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...

This Reinvestment Roadmap was drafted by the City of Erie and the Erie Regional Chamber and Growth Partnership for the White House Opportunity and Revitalization Council.

CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help...

This report by the Staff of the Joint Committee on Taxation was prepared on January 29, 2020 for a hearing before the House Committee on Ways and Means. It discusses an overview of infrastructure financing options, including the highway trust fund,...

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...

Skye Morse from M&S Development presents on the Session: Opportunity Zones Fundamentals & The Latest Updates in New England during the New England Roundtable.

Ted Brady from Vermont Agency of Commerce and Community Development presents on the Session: Where are Opportunity Zones? Perspectives from State & Local Agencies in Boston during the New England Roundtable.

Carlos Mello from Finance Authority of Maine and Jonathan Tower from Arctaris Capital Partners presents on the Session: Opportunity Funds to Support Rural Development in Boston during the New England Roundtable.

Wendy O'Malley from MassDevelopment presents on the Session: Energy Financing in Opportunity Zones in Boston during the New England Roundtable.

Michael Baer from Rhode Island Infrastructure Bank presents on the Session: Energy Financing in Opportunity Zones in Boston during the New England Roundtable.

This analysis of the final Opportunity Zones Regulations from CohnReznick highlights what they consider to be the most important elements of this comprehensive package.

This document contains final regulations governing the extent to which taxpayers may elect the Federal income tax benefits provided by section 1400Z-2 of the Internal Revenue Code (Code) with respect to certain equity interests in a qualified...

On December 13, 2019, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been...

How can stakeholders use the Opportunity Zones incentive to benefit disinvested neighborhoods and expand access to affordable housing? The experiences of investors, developers, government officials, and philanthropy representatives show how the...

Steve Johnson, William Judge, James Hockaday, Jennifer Syx, and Emil Liszniansky present Cracking the Opportunity Zones Code

Brad Elmer, Carlos Mello, and Jonathan Tower present Developing Opportunity Zone Partnerships that Drive Impact

Katie Kramer and Peter Truog present Opportunity Zones Strategy Meeting.

The proposal requires information reporting from both Opportunity Funds and their investors. QOFs are required to report identifying information, amount and composition of assets, names and taxpayer identification numbers of investors, the amounts...

This paper continues a white paper series demonstrating the ways in which traditional development financing is already supporting food systems, with a focus on finance tools that help to stimulate investment. An overview of investment tools, such as...

Christopher Nunn, Georgia Department of Community Affairs, and Camilla Warren, U.S. EPA, discussed Where are Opportunity Zones? Perspectives from State & Local Agencies during the Georgia Opportunity Zones: Driving Peach State Investment Conference...

Luke Howe, City of Doraville, GA, discussed Opportunity Zones in Conjunction with Tax Allocation Districts during the Georgia Opportunity Zones: Driving Peach State Investment Conference in Atlanta.

Lilian Martin-Mashburn with Morris, Manning & Martin LLP discusses OZ Fundamentals and the Latest Updates in GA during the Georgia Opportunity Zones: Driving Peach State Investment Confernece in Atlanta.

Ed Smith, Invest Atlanta, discussed Developing a Local Opportunity Zones Strategy during the Georgia Opportunity Zones: Driving Peach State Investment Confernece in Atlanta.

Grey Dodge, Madison Street Strategies, discussed Developing a Local Opportunity Zones Strategy during the Georgia Opportunity Zones: Driving Peach State Investment Conference in Atlanta.

Dan McRae, Seyfarth Shaw, and Sharon Subadan, City of Albany, GA, discussed Highlighting P3 Projects in Opportunity Zones during the Georgia Opportunity Zones: Driving Peach State Investment Conference in Atlanta.

Dan Flanigan and Jeff Goldman from Polsinelli presents on Opportunity Zones Fundamentals & The Latests Updates in New York/New Jersey with Tai Cooper from New Jersey Economic Development Authority during the New York & New Jersey Roundtable

Dennis Enright from NW Financial Group presents on Using Opportunity Fund Capital with Bonds in New York City during the New York & New Jersey Roundtable.

Eric Clement from New York City Economic Development Corporation presents on the Lunch Session: Where are Opportunity Zones? Perspectives from State & Local Agencies in New York City during the New York & New Jersey Roundtable.

Ladell Robbins from Newark Community Economic Development Corporation presents on the Lunch Session: Where are Opportunity Zones? Perspectives from State & Local Agencies in New York City during the New York & New Jersey Roundtable.

Allison Ladd from City of Newark presents on Opportunity Zones: A Contemporary Tool for Small Business Development in New York City during the New York & New Jersey Roundtable

Jonathan Cloud from New Jersey PACE presents on Highlighting PACE Projects in Opportunity Zones in New York City during the New York & New Jersey Roundtable.

Victoria Zelin from New Jersey PACE presents on Highlighting PACE Projects in Opportunity Zones in New York City during the New York & New Jersey Roundtable.

Tai Cooper with New Jersey Economic Development Authority presents on Opportunity Zones Fundamentals & The Latests Updates in New York/New Jersey during the New York & New Jersey Roundtable

Victoria Zelin from New Jersey PACE presents on Highlighting PACE Projects in Opportunity Zones in New York City during the New York & New Jersey Roundtable.

Dave Jackson from Bricker & Eckler presents on Opportunity Zones Fundamentals & The Latest Updates in Ohio during the Ohio Roundtable.