Opportunity Funds Meeting June 6, 2018 Opportunity Zone Incentives - - PowerPoint PPT Presentation

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Opportunity Funds Meeting June 6, 2018 Opportunity Zone Incentives Assumptions: Long-term federal capital gains tax rate: 23.8% No state income tax 7% annual appreciation for both O Fund and alternative investment Source: Economic

SLIDE 1

Opportunity Funds Meeting

June 6, 2018

SLIDE 2

Opportunity Zone Incentives

Source: Economic Innovation Group Assumptions: Long-term federal capital gains tax rate: 23.8% No state income tax 7% annual appreciation for both O Fund and alternative investment

SLIDE 3

Designated Opportunity Zones

SLIDE 4

Designated Opportunity Zones vs. Eligible/Not Selected Tracts

Metric Selected Not Selected Difference Unemployment Rate 22.2% 17.4% 4.8% Poverty Rate 32.2% 26.0% 6.2% Commercial Density 20.2% 15.0% 5.2%

SLIDE 5

District Goals for Opportunity Zones

Maximize benefit to and prevent displacement of existing residents Bring new amenities, such as retail and fresh food grocers, to communities that need them most Align OZ investment with projects that address public priorities Create jobs for residents of Opportunity Zones

SLIDE 6

Maximize Community Benefits

District Real Estate Developments

First Source, CBE contracting, and community benefits agreements

Small Area Plans

Identified community priorities

District incentives & programs

Supermarket Tax Credit, Neighborhood Prosperity Fund, Great Streets, Housing Production Trust Fund, Preservation Loan Fund, PACE, On the Job Training Funds, QHTC

SLIDE 7

Incentives Lookup: incentives.dc.gov

SLIDE 8

Resources

Incentives.dc.gov Oppzones.dc.gov

For DC-specific OZ information and updates To find complementary incentives

Oppzones.dc.gov

SLIDE 9

Next Steps / Q&A

How can the Opportunity Zone financing be applied in DC? What are your plans for creating or leveraging Opportunity Funds? What are the most important OZ questions to be answered? How can District Government help?