Trump Signs Executive Order on Opportunity Zones

Filed in Codes and Regulations, Multifamily, Tax Reform Toolkit by on December 14, 2018 1 Comment

President Trump on Wednesday signed an executive order to spur more investment in opportunity zones, a new type of economic development incentive created by the Tax Cuts and Jobs Act of 2017.

Opportunity zones are designed to incentivize investment and economic development in under-served communities. Developers may use a Qualified Opportunity Zone Fund to help fund projects located within an opportunity zone. This new source of investment dollars could prove to be a powerful economic tool if properly administered.

The president’s executive order establishes the White House Opportunity and Revitalization Council that will be chaired by HUD Secretary Ben Carson.

The White House said the opportunity zones are anticipated to spur $100 billion in private capital investment.

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  1. Joe Honick says:

    This has the tone of another WPA concept of the FDR era….a good idea…but one that sounds far away from socially sound concepts that Trump would ordinarily get behind. This is the first I’ve had the chance to review it.

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