Parts of city designated “Opportunity Zones”
In announcing the program, Mayor
The program provides tax incentives for investors who choose to invest in areas designated by the executive of each
Those partners included the
"
The Opportunity Zones program offers three tax incentives for investing in designated communities -- a temporary deferral of inclusion in taxable income for gains reinvested through an
The award of the
"So many of our communities across the state and country are not given the same opportunities for growth as bigger cities, though they often possess the same potential," Vargas said. "The award of two
The Opportunity Zones program is based on the bipartisan Investing in Opportunity Act. The legislation was developed in 2015 to address uneven economic growth patterns that have often left many American small to mid-sized communities behind.
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