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How can cities best take advantage of the Opportunity Zone program?

How can public-private partnerships help to accelerate a community’s revitalization?

  • Donny Lucaj
    June 18, 2019

    I believe what will set apart one city from another are: the expediency of providing permitting and additional incentives. Currently a lot cities have Opportunity Zone tracts within them and if the city cannot help businesses with additional incentives, it will face an uphill battle in trying to lure investment into their communities.

  • Peter McNeil
    June 14, 2019

    Focus on the economic advantages that your community would have even if there were no tax incentives. Promoters are interested in the following: can an investment make money; will government and the community be receptive to the changes that a new development will bring; will the approval process for development be reasonable and not excessively lengthy; if you can answer positively to the above questions, you are now attractive to an Opportunity Zone funds. It may take some time, but keep on promoting. There is a nonprofit group called Accelerator for America that has come up with templates for communities like yours trying to attract such investment. I have no affiliation but found it a good starting point. Hope this helps you to get started.

  • Matthew Rappaport
    June 16, 2019

    Nothing prevents a municipality from entering a public-private partnership with investors under the Opportunity Zone program. The OZ tax benefits can also be combined with any state or local tax benefits a municipality might offer.

  • Brad Cohen
    June 14, 2019

    Complicated. If the city has a well-developed marketing plan they (the developers/investors) will come.

  • Maria De Los Angeles Rivera
    June 13, 2019

    Cities are identifying the priority projects for development and working on attracting investors to these. In addition, some are approving special legislation to make these projects more attractive.

  • Blake Christian