During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Frances Sakaguchi shared information creating investable communities and how to take advantage of the Opportunity Zone Program.

2. What are Opportunity Zones
Opportunity Zones were created under the 2017 Tax
Cuts and Jobs Act to stimulate economic development
and job creation, by incentivizing long-term
investments in low-income neighborhoods.
The Opportunity Zone tax incentive is a tool meant to
bring private capital to underserved communities.
Public sector investments serves to attract private
capital investments into Opportunity Zones
An Opportunity Zone is a designated geographic area
where private investments, under certain conditions,
may be eligible for capital gain tax incentives.

3. An Opportunity Zone is a designated geographic area
where private investments, under certain conditions, may
be eligible for capital gain tax incentives
There are currently 8,760 designated Qualified
Opportunity zones identified under the Internal Revenue
Code nationwide
Investors can defer tax on any prior gains invested in a
Qualified Opportunity Fund (QOF) until the earlier of the
date on which the investment in a QOF is sold or
exchanged or until December 31, 2026.

4. Whitehouse Opportunity and
Revitalization Council
The WHORC established under an Executive Order to carry out the
Administration’s plan to target, streamline, and coordinate Federal
resources to be used in Opportunity Zones and other economically
distressed communities.
Minimize regulatory and administrative burden that discourage
investments
Consult with local stakeholders to determine how to stimulate
investments in OZ
Coordinate interagency efforts to help stakeholders develop
economic revitalization strategies
Prioritize Assistance for Opportunity Zones
Recommend policies to help OZ communities apply for federal
resources

5. The White House Opportunity and
Revitalization Council have identified
over 160 federal programs where
targeting, preference or additional
support could be granted to opportunity
zones.
The council has already taken action on
over 50 programs.
Completed Program Targetng
Actions

6. EDA has awarded 226 projects either in an
OZ, or nearby area supporting an OZ
Total EDA Funded $304.8 million
Total Project amount: $496.4 million
EDA Investment in OZ

7. EDA encourages to think of Opportunity
Zone investment as a catalyst to stir Return
on Investments for business interests
To encourage the public/private
partnerships needed to drive private
investment to distressed areas.

8. • EDA and Opportunity Zones
Actions EDA has taken:
• In FY18, EDA’s Notice of Funding Opportunity added
Opportunity Zones as a special needs category eligible
for funding from EDA
• In June 2019, EDA added Opportunity Zones as one of
its five Investment Priorities
• EDA developed a new special initiative codes
internally to help better define and capture EDA’s
engagement in Opportunity Zones.

9. EDA Opportunity Zones webpage:
• Share information about EDA’s work in and
around Opportunity Zones
• EDA’s Opportunity Zone resources
• Showcase EDA data, success stories, and
more
• Creation of an online interactive Opportunity
Zone map.
• Ongoing agency-wide collection of
information and data on Opportunity Zones
investments.

10. EDA will be developing guidance to
encourage regions to consider how
OZ incentives and development plans
can align with CEDS
Things to think about:
• Modify Action Plans
• Investment Strategies/
Developing prospectus that will
provide information to the investors
and funders

11. EDA collaborates with other federal agencies to
support OZ and leverage federal resources;
• Interagency Funders Forums
• Information Exchanges
• Interagency collaborations such as REDS
events hosted by EDDs and local economic
development partners
• Engaging philantrophic organizations
• Regional Integrators available to assist with
federal program coordination and resource
alignment

12. OZ ToolKit Volume 1
Leveraging other agency resources:
• HUD produced an OZ toolkit Vol 1 as a roadmap for local leaders
on planning economic development for OZs;
• WHORC list of Federal funding Resources {ongoing regarding
updates}.
https://opportunityzones.hud.gov/sites/opportunityzones.hud.gov/files/do
cuments/Opportunity_Zones_Toolkit_Roadmap_FINAL_Edited_092319.
pdf

13. RESOURCES
Tools to assist with OZ Prospectus: Accelerator for America :
https://acceleratorforamerica.org/tools Includes
• Investment Prospect Guide
• OZ Investment Prospectus Early Observations
and next Steps
• How Financial Innovation can enable inclusive OZ
https://www.eda.gov/opportunity-zones/

14. Contact
www.eda.gov
Frances Sakaguchi, EDI
EDA Seattle Regional Office
915 Second Ave, Rm 1890
Seattle, WA 98174
206-220-7693
fsakaguchi@eda.gov