Maximizing the Impact of New Opportunity Zones

Background: Opportunity Zones are a new community development tool established by Congress in the Tax Cuts and Jobs Act of 2017. This new tool is designed to drive long-term capital to low-income communities. The new law provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas. There are 176 census tracts in Tennessee that are qualified opportunity zones. These low-income tracts were nominated by Tennessee and certified by the Secretary of the Treasury. Tennessee’s 176 tract recommendations were determined based on a strategic and data-driven review of county mayor feedback in addition to consideration of state priorities and initiatives including:

• Business development and brownfield redevelopment opportunities
• Retail, commercial and tourism development opportunities
• Community and rural development initiatives
• Low-income housing development opportunities
• Proximity to entrepreneur centers, technology transfer offices, and colleges and universities

Come join a regional conversation as we discuss current regulations for zones and funds and best practices for taking advantage of the program, based in part on the successes and failures of past 'zone' initiatives.

Speaker(s): Alexander Flachsbart, President & CEO, Opportunity Alabama. Opportunity Alabama (or OPAL) is a first-of-its-kind nonprofit initiative dedicated to connecting investors with investable assets in Alabama's Opportunity Zones.

Who Should Attend

• Attorneys
• Accountants
• Bank & Credit Unions
• Investors
• Developers
• Other professionals involved in commercial real estate transactions
• Entrepreneurs
• Financial advisors
• Wealth managers
• Community partners
• City planners
• Housing Authorities
• Foundations
• Elected Officials

Co-Sponsor(s): State of Tennessee Economic & Community Development; Chattanooga Chamber; Southeast Tennessee Development District (SETD);