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Opportunity Zones

Opportunity Zone Fund Directory

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn...

Opportunity Zones | Articles and Background Materials

Access recent Opportunity Zones articles curated by NCSHA staff. 

Opportunity Zone Best Practices Report from the White House Opportunity and Revitalization Council

The White House Opportunity and Revitalization Council issued this May 2020 report outlining Opportunity Zone best practices and examples of revitalization occurring across the country. The report highlights best practices of state and local governments, foundations and nonprofits, Qualified Opportunity Funds, and other stakeholders, including Housing Credit allocating agency strategies in Massachusetts, Mississippi, and Nevada.

White House Opportunity and Revitalization Council: Report to the President

In accordance with the executive order establishing it, the White House Opportunity and Revitalization Council submitted this implementation report to President Trump outlining 180 action items completed as of December 2019 by the 17 federal agencies and federal-state partnerships that compose the council.

NCSHA and EIG Webinar on Affordable Housing Investment in Opportunity Zones

On December 17th, NCSHA hosted a webinar with the Economic Innovation Group (EIG) to discuss how Opportunity Zone investments are supporting affordable housing and community development initiatives. The webinar highlighted financial structuring and development details of projects in Florida, Maryland, and Ohio that are part of the recently launched case studies series of developments that incorporate Opportunity Zone investment to create affordable homes and support community revitalization. NCSHA’s Jim Tassos joined EIG staff and development team representatives to provide context to HFA initiatives in Opportunity Zones and to discuss trends from NCSHA’s latest Opportunity Zone Fund Directory, published earlier this week. A recording of the webinar can be found below.

Treasury and IRS Final Regulations on Opportunity Zones

The U.S. Treasury Department and the IRS issued final regulations implementing the Opportunity Zones tax incentive. Opportunity Zones, created by the Tax Cuts and Jobs Act, offer capital gains tax relief for investments in economically distressed areas. The final rules provide clarity for Opportunity Funds and their eligible subsidiaries in determining qualification and levels of new investment in Opportunity Zones. They also provide guidance regarding the types of gains that qualify for Opportunity Zone investments, as well as gains that may be excluded from tax after a 10-year holding period.

Case Studies: Opportunity Zone Investment in Affordable Housing and Community Revitalization

The National Council of State Housing Agencies and the Economic Innovation Group are collaborating on a series of case studies of developments that incorporate Opportunity Zone investment to create new affordable homes and support community revitalization efforts. To submit a development for this series, please complete this form.

Submission Form: Opportunity Zone Affordable Housing Development Profile

The National Council of State Housing Agencies and the Economic Innovation Group are collaborating on a series of Opportunity Zone development profiles that feature affordable and/or workforce...

SEC and NASAA Staff Statement on Opportunity Zones

This document is the Staff Statement on Opportunity Zones: Federal and State Securities Law Considerations from the staffs of the Securities and Exchange Commission and the North American Securities Administrators Association, in which they provide a summary of the Opportunity Zone program that briefly discusses the program and describes the compliance implications for Opportunity Funds under federal and state securities laws.