Researchers from the Urban Institute have issued a new report examining the potential of the Opportunity Zones tax benefit in attracting private capital to tribal census tracts, particularly for spurring housing construction and rehabilitation. Their analysis finds that of 1,341 census tracts eligible in tribal areas, 30 percent were approved for Opportunity Zone designations. Yet, as demonstrated with other investment vehicles available to attract private funds, such as the Housing Credit and the New Markets Tax Credit, the unique barriers to accessing capital in Indian County can present a challenging investment landscape. However, the report suggests that the flexibility provided by Opportunity Zones presents promising opportunity for tribal areas, as they will be able to package development projects to build capacity, form partnerships and attract new investment. Visit the Opportunity Zones webpage for information and updates on the Opportunity Zones tax incentive.
Interested in learning more about Opportunity Zones? Join us August 21-22 in Oklahoma City for our 2018 Affordable Housing Conference: Plan.Build.House.