HUD Invites Comments on Opportunity Zones
HUD would like to invite your comments on HUD's latest Request for Information, FR-6155-N-01 Review of HUD Policy in Opportunity Zones. Created by the 2017 Tax Cuts and Jobs Act, Opportunity Zones are distressed communities that provide tax benefits to investors who make new investments in the Zones.
As the Chair of the White House Opportunity and Revitalization Council, the Secretary of HUD is very interested in all the levers HUD can pull to make Opportunity Zones vibrant economic engines for their residents. Don't be wary of making outside-the-box suggestions. Feel free to answer as many of the questions as you like, but we especially appreciate feedback on questions 1, 4, 5, and 6:
(1) How should HUD use its existing authorities to maximize the beneficial impact of public and private investments in urban and economically distressed communities, including Opportunity Zones?
(4) What types of technical assistance should be offered through HUD?
(5) What role can HUD play in helping to ensure that existing residents, businesses, and community organizations in Opportunity Zones benefit from the influx of investment and remain the focus of their community's growth moving forward?
(6) How can HUD properly evaluate the impact of Opportunity Zones on communities?
Comments are due June 17, 2019. Thank you, and we look forward to reading your ideas.