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Lawmakers created the program in an effort to help low-income communities, and the provisions in the 2017 tax law on opportunity zones were based on bipartisan legislation. But Democrats have become increasingly critical of the program in recent months, following news reports about how wealthy people are benefiting from the program. — The Hill
Representatives Alexandria Ocasio-Cortez and Rashida Tlaib are hoping to repeal the controversial Opportunity Zones program that brings certain tax breaks to investments in new development projects that are located in designated economically-distressed areas, The Hill reports. Though passed... View full entry
For minorities and female developers, “access to capital has been the biggest challenge,” said Peebles, who has been an outspoken advocate for diversity in the industry. “I looked at how to address that for a number of years. No one in the country is doing this on a national level.” — therealdeal.com
Real estate developer Peebles Corporation has unveiled a $500 million investment fund that will be used to fuel development projects led by women and racial minorities. According to The Real Deal, the fund will focus on urban infill projects with budgets between $10 and $70 million in... View full entry
