Created in 2017, the Opportunity Zone program was intended to spur private investment toward low-income communities. Since then, the program has been made permanent, with added compliance and reporting standards to better evaluate the program’s outcomes. Brett Theodos, a senior fellow and community and economic development expert at the Urban Institute, spoke with Shelterforce about where the economic gains ultimately land: “The tax benefit does not sit at the community level, the tenant level, the business level, or even the developer level—but at the investor level,” says Theodos. 

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