Created by Congress in the 2017 Tax Cuts and Jobs Act, Opportunity Zones are designed to encourage long-term investments into low-income urban and rural communities across the nation, using tax incentives to encourage private investment into designated census tracts through privately – or publicly-managed investment funds. While Opportunity Zones are not the only tool- in an investor’s toolkit, communities must be proactive and move with urgency in order to realize the full benefit of this particular program.
What should community expect?
Expect further development in many of the 126 areas that Colorado identified earlier this year as eligible Opportunity Zones. Unlike other programs, this one is not subject to regulations or guidelines that could otherwise help to preserve local businesses, affordable housing, workforce or that park your kids love so much! That being said, it is a critical time to unite and think like an investor. This is a call to action for communities to strategize and create an insightful plan of action for revitalization, Opportunity Funds, and projects. The time is now to play an active role in the growth and transformation of these communities…
You are encouraged to connect in with our Community-Focused Opportunity Zone forum, Bridge to Opportunity, and receive insight on how to prepare and position your communities, homes, businesses, non-profit/faith-based entities, and surrounding areas to benefit from this program and its potential impact. You don’t want to miss out!
Learn more about Opportunity Zones now: