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In my new content, I’ve been arguing that we should be tapping personal money instead of taxing personal cash in order to address affordable housing challenges. The OZ polices have been Evidently an opportunity to try this, except Congress flat out blew it.
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Another thing that grew to become abundantly apparent with the OZ event was that the Opportunity Zone regulations are complicated. As such, the “opportunities” are mostly inaccessible for the typical nearby developer.
Or if any affordable housing is designed – to generally be in compliance with nearby in-lieu requirements -- the OZ method Unquestionably ensures that minimal earnings people today will continue being concentrated in current small revenue neighborhoods, contradicting the said community policy goal of providing affordable housing throughout the SF Bay Area.
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Precisely what is most disheartening is the fact the opportunity to do this correct was fully dismissed. And that is why you should treatment.
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The OZ legislation performs properly for large asset management and investment advisory companies, who will be amassing pools of cash, but the number of modest developers or smaller city agencies know individuals who Possess a several million in unrealized funds gains lying close to, to take a position?
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