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...

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...

In this brief, the Urban Institute identifies seven big ideas to address these concerns that together constitute their “New Agenda for Community Development Finance.” The Seven Big Ideas would Expand Access to Capital, Lessen Racial Disparities, and...

CDFA's first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and public...

Recovering from the pandemic and addressing the intergenerational inequities that have stunted personal and national prosperity will require an all-hands-on-deck effort. This guide is intended for government officials, community members, education...

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...

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),...

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.

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...

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...

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...

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...

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.

This newly-updated document from the IRS contains answers to Frequently Asked Questions (FAQs) on Opportunity Zones.

The White House Opportunity & Revitalization Council released a list of over 160 federal financing programs that give preference to projects located in Opportunity Zones.

Alongside Treasury's Second Tranche of Proposed Opportunity Zones Regulations, HUD is reviewing its existing policies, practices, planned actions, regulations, and guidance regarding HUD-administered programs and laws. This review aims to identify...

The market study validates the IMD’s potential to nurture Chicago’s innovation activity and advance economic development on a regional scale. Yet Chicago lags behind smaller cities in life sciences activity. The authors suggest that one impediment...

This CRS report briefly describes what census tracts have been designated as an OZ, what types of entities can are eligible as QOFs, the tax benefits of investments in QOFs, and what economic effects can be expected from OZ tax incentives.

This report outlines the plan of the White House Opportunity and Revitalization Council (Council) to implement administrative reforms and initiatives that will target, streamline, coordinate, and optimize Federal resources in Opportunity Zones to...

This report, produced by LOCUS, ranks each of the designated Opportunity Zones based on its Smart Growth Potential (SGP) as well as its Social Equity + Vulnerability Index Score (SEVI). SGP measures walkability, job density, housing diversity and...

How C-PACE can be used in Opportunity Zones featuring case studies of completed projects.

On April 17, 2019, the Department of the Treasury released its second round of proposed regulations on Opportunity Zones.

Ira Weinstein with CohnReznick LLP presents on how traditional development finance tools can be used in combination with Opportunity Zones investments.

Chris Compton and Brandon Jones with Winstead PC discuss the tax incentivized Opportunity Zone program.

Jake Rouch with the Erie Regional Chamber and Growth Partnership presents on the City of Erie Investment Prospectus.

Alex Flachsbart with Opportunity Alabama presents on the Opportunity Zones ecosystem in Alabama.

Tim Wachter with Knox McLaughlin Gornall & Sennett presents on how Erie, Pennsylvania is preparing for and attracting Opportunity Zones investments.

Katie Kramer with the Council of Development Finance Agencies provides an update on the latest news about Opportunity Zones.

Ira Weinstein with CohnReznich LLP presents on the equity investment structure of Opportunity Zones.

Rebecca Mitich with Husch Blackwell LLP presents an Opportunity Zones case study from Milwaukee, WI.