The White House Opportunity and Revitalization Council Wednesday published its implementation plan on administrative reforms and initiatives to target, streamline, coordinate and optimize federal resources in economically distressed communities, including opportunity zones (OZ). The council, which is chaired by U.S.
Michael Novogradac, CPA, discussed in a Notes from Novogradac blog post the second tranche of opportunity zones (OZ) guidance released by Treasury yesterday. Yesterday’s post is Part I of a two-part series reviewing the issues addressed in yesterday’s release, as well as some of the open questions that remain.
The Treasury Department today released the second tranche of proposed opportunity zones (OZ) guidance concerning qualified opportunity funds. Learn more about the proposed regulations on the Notes from Novogradac blog.
The U.S. Department of Housing and Urban Development (HUD) will publish a request for information in the Federal Register seeking input on how HUD can act to encourage public and private investment in distressed communities, including opportunity zones. The White House Opportunity and Revitalization Council, created by executive order, includes the HUD secretary as the chairman. HUD is reviewing existing policies to determine what actions it can take.
Virginia Gov. Ralph Northam this week announced a partnership with Virginia Community Capital (VCC) to create an online marketplace to match investors with opportunity zones (OZ) communities and to a $50 million credit facility program.
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