The capital gains tax breaks available in the zones created, uh, opportunities that are both potentially transformative for low-income neighborhoods – and ripe for abuse.
New federal regulations don’t include rigorous impact safeguards, so industry leaders are attempting to fill the gap.
The Urban Institute’s Opportunity Zone Community Impact Assessment Tool starts by asking investors, project sponsors and others to rank community needs across six impact areas, including quality jobs, community wealth building, and affordable housing. Projects are scored on how well they align with community needs. …
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