Strategies for equitable cities

For cities and municipalities, Opportunity Zones represent both an unprecedented opportunity to attract capital and a potentially explosive risk of displacement, gentrification, and misaligned incentives. As capital chases yield in spaces they often don’t know and in which they have not worked, the prospects for miscalculation are high. It’s critical that cities develop an Opportunity Zone strategy that maximizes the upside of new capital infusions while maintaining guardrails for community benefit. We’ve partnered with Pine Street Strategies to provide some guidance based on existing best practices.

How can governmental entities align existing development incentives with a local OZ strategy?
How can the City leverage other federal programs like the New Markets Tax Credit Program and the Low Income Housing Tax Credit in tandem with the Investing in Opportunity Act to make key investments in priority Opportunity Zones?
Has the City already identified projects that could provide the deal flow necessary to make an Opportunity Fund worth its time?  And is there a process in place to identify future priority projects that could be marketed to Opportunity Funds?
What’s the best structure to accomplish the Mayor’s affordable housing¨ community development and economic development goals that also reflects local political realities?
How does the City intend to align its OZ strategy with its federal appropriations and federal competitive grant strategies to maximize the impact on the City’s Opportunity Zones?

For more information, please follow the link to our joint presentation to the African American Mayors’ Association. To discuss specific initiatives or projects, please fill out the form below.