Local Government Action is Critical in Helping Low-Income Residents Benefit from the Opportunity Zone Program

Ronald R. Fieldstone is a partner in the Miami office of Saul Ewing Arnstein & Lehr.

The Opportunity Zone program is expected to attract a substantial amount of capital in economically-distressed communities designated Opportunity Zones. Under certain conditions, development in those areas can qualify for tax breaks. The Treasury Department designated approximately 8,700 census tracts as Opportunity Zones across urban and rural areas throughout the United States, including its territories.

Close to 35 million Americans live in Opportunity Zones, which have higher poverty and unemployment rates than the rest of the nation. GlobeSt.com sat down with Saul Ewing Arnstein & Lehr Attorneys Ronald R. Fieldstone and Miguel Diaz de la Portilla to discuss what local government can do minimize the risk of OZ residents being displaced by a wave of OZ redevelopment.