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How a Trump Tax Break to Help Poor Communities Became a Windfall for the Rich
Many of the projects that will enjoy special tax status were underway long before the opportunity-zone provision was enacted. Financial institutions are boasting about the tax savings that await those who invest in real estate in affluent neighborhoods.
- Region
- North America
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Filling Critical Gaps, a Foundation Looks to Realize the Promise of Opportunity Zones
In March, Kresge committed $22 million of that to backing two established fund managers—Boston-based Arctaris and Ft. Lauderdale-based Community Capital Management (CCM)—to anchor their Opportunity Zone Funds. Together, the fund managers are expecting to raise and deploy more than $800 million in zones nationally.
- Categories
- Investing
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Africa’s Cities Are About to Boom – and Maybe Explode
Sub-Saharan Africa is already 40 percent urban, while tens of millions of people are flooding into cities every year.
- Region
- Sub-Saharan Africa
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Google Is Using Maps to Try and Bring Order to One of Africa’s Most Chaotic Cities
The service now has a new “informal directions” interface dedicated to traveling with public transport buses, known locally as danfo. The interface will also include danfo fare estimates and levels of busyness at local bus stops.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Titans Linebacker Derrick Morgan Retires From NFL And Launches $200 Million Opportunity Zone Fund
Morgan is taking his OZ investing a step further to ensure it has both a financial profit and positive social impact, or a double bottom line, as it’s known.
- Categories
- Investing
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Viewpoint: Treasury Risks Dropping the Ball on Opportunity Zones Accountability
The die will be cast when the Treasury Department releases final regulations governing Opportunity Zones. It’s up to Treasury to weigh these risks against the potential returns for our communities.
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- Investing
- Region
- North America
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Mastercard Debuts Card to Act as ID, Payment for Underserved
Members of underserved populations don’t always have credit cards. City Key is Mastercard’s effort to help cities distribute services and benefits by creating a tool that can act as an ID, payment card or access pass.
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- Finance
- Region
- North America
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White House Touts Help For Poor Areas — But Questions Endure Over Who’ll Benefit
Smith, who helps lead the White House efforts on the zones and other domestic policy matters, told NPR that the zones help cities and towns draw on private-sector investment in an innovative way. But the federal law does not specify how those funds should be used; investors might build affordable housing — or they might build high-end apartment buildings.
- Categories
- Finance
- Region
- North America