Jose Corona - member of the Oakland Fab City steering committee and Director of Equity and Strategic Partnerships for the office of Mayor Schaaf - on equity in Opportunity Zones created by the 2017 federal Tax Cuts and Jobs Act.
He cites this PolicyLink brief on these strategies as the basis for a general argument: if Opportunity Zones are managed like similar initiatives in the past, they will produce similarly unsatisfactory results. In order to produce different outcomes, capital to support projects in Opportunity Zones needs to be directed toward projects which produce equitable growth, avoid displacement, and create broad-based opportunity.
Fab Cities are built on healthy, broad-based local economy, and need new investment models to thrive.
Read more below.