President Trump’s newly created Opportunity and Revitalization Council was established December 12 to find ways to better use public funds to revitalize urban and economically distressed communities. Chaired by Ben Carson, Secretary of the Housing and Urban Development, this team’s focus will be to reduce and streamline regulatory and administrative burdens, Other goals include determining if agencies can prioritize support for OZ investments and seek cooperation between Federal agencies.
The Council is charged with reporting to the President within 90 days a detailed plan for how, and by when, the Council will accomplish its goals. By day 210, they will recommend changes to Federal statues and regulations that would encourage private investment to opportunity zones. Within 1 year they will have created best practices and offer ways to administer Federal resources within opportunity zones.
We are pleased with this new development, as it reaffirms the Federal Government’s commitment to this national community investment program that connects private capital with low-income communities across America. We are about to launch our Opportunity Investment Fund and will be sending information out shortly.