Oct 13

GCP recently participated in a national convening on Opportunity Zones planned by the Fund for Our Economic Future in partnership with the Urban Institute. Governor Mike DeWine provided a keynote at the event and discussed Ohio’s efforts to create additional tools and resources to attract Opportunity Zone investors. Alesha Washington, GCP’s Vice President of Government Advocacy, moderated a discussion with local and national experts on Opportunity Zones and affordable housing, covering a variety of topics including understanding how the tax incentive can be leveraged as a part of the capital stack for real estate projects, how developers can effectively engage community residents for input on potential projects, and the need to address issues around racial equity and inclusion for the communities being served as well as minority investors and developers that can benefit from the new development tool.

GCP was engaged at the federal level to support passage of the 2017 federal tax law that created the Opportunity Zones incentive and supported passage of Ohio’s 10% income tax credit for Opportunity Zone investments in Ohio. GCP is a part of a collaborative, including the Fund for Our Economic Future, to match Opportunity Zone investors to promising projects in Cleveland.