VOTE EOTR N'HOODS AS DC OPPORTUNITY ZONES! DEADLINE MARCH 12TH!
The Advoc8te really wants all of her readers to take a few minutes and fill out this survey and vote for east of the river communities to be designated as DC Opportunity Zones. This could be a really great opportunity to support small business development and revitilization in our neighborhood's that could use it most. See below for details. Deadline to complete the survey is March 12th!
The Opportunity Zones Program was enacted as part of the 2017 tax reform package (Tax Cuts and Jobs Act) to address uneven economic recovery and persistent lack of growth that have left many communities across the country behind. The Federal Opportunity Zone program provides a tax incentive for investors to reinvest unrealized capital gains into communities experiencing distress, including low income and high poverty rates. Opportunity zones could serve several purposes in DC:
- Promote economic vitality in underserved areas
- Fund the development of the workforce and affordable housing
- Fund new infrastructure
- Invest in businesses with high growth potential
- Upgrade existing underutilized assets through capital improvement
We need your input to select Opportunity Zones for DC.
Every state, including the District of Columbia, can choose up to 25% of eligible census tracts as Opportunity Zones. In DC, 97 census tracts meet the eligibility requirements, so we can choose up to 25 census tracts for the program. Please visit this interactive map to learn more about the qualifying Census Tracts and our recommendations that follow.
The Mayor must name tracts by March 21, 2018. Your input is a critical part of the decision process, so we are seeking input via this survey through March 12, 2018.