HUD publishes Opportunity Zone implementation plan

The White House Opportunity and Revitalization Council published its Implementation Plan, outlining to President Donald Trump a work plan for how the Council – chaired by U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson – will accomplish the goals specified in Executive Order 13583 of Dec. 12, 2018.

The Implementation Plan explains the various subcommittees, and describes the strategy to implement administrative reforms and initiatives that will coordinate Federal resources in economically distressed communities, including Opportunity Zones.

"Through this Plan, the 16 agencies and the Federal-State partnerships that comprise the Council will help deliver the public-sector investment and guidance that communities need to unlock the full potential of Opportunity Zones tostimulate economic development and job creation," says Carson.

In the report, the Council describes the following work streams and associated goals:

  • Economic development: Leverage federal grants and loans in a more integrated way to develop dilapidated properties and provide basic infrastructure and financial tools to attract private investment.
  • Entrepreneurship: Leverage government lending and grants to stimulate access to private capital and promote programs that assist entrepreneurs.
  • Safe neighborhoods: Combat drug addiction and the opioid crisis, reduce crime, enhance public safety and address environmental contamination obstacles to development.
  • Education and workforce development: Improve the effectiveness of K-12 and community college career and technical education and workforce development programs to better prepare workers in distressed communities for jobs.
  • Measurement: Develop robust reporting and analytics to measure the impact of Opportunity Zones.

© 2019 Florida Realtors®

Post a Comment