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Opportunity Zones
The Planning Commissions Role
Isothermal Planning & Development Commission
Representing Cleveland, McDowell, Polk and Rutherford Counties
The Tax Cuts and Jobs Act (H.R.I)
• Each State Designate up to 25% of total
low-income census tracts
• NC has 46% (1000) low-income tracts
out of 2,195
• Total of 252 Opportunity Zones in NC
with a minimum of 1 per county
• There are 8 in the Isothermal Region
Opportunity Zones in NC
Opportunity Zones in Rutherford/Polk
LAKE LURE
R - S
COLOMBUS
FOREST CITY
ELLENBORO
Opportunity Zones in McDowell
MARION
Opportunity Zones in Cleveland
Making the Isothermal Region
investment-ready before the end of
2019
• IPDC will convene local governments in
Isothermal Region
• Purpose of which is to discuss the
development of local and regional prospectus
Next Steps
Set up an Invite to our Membership and
Partners in the Region to a Roundtable
discussion on Opportunity Zones with the
Richmond Federal Reserve’s Community
Development Division
Created a draft Prospectus Outline for our
Membership to use
https://regionc.org/wp-
content/uploads/2019/06/oz-investment-
prospectus-outline.pdf
(of course we stole everything, I mean used
other folks best practices…)
Created a Web page for folks and a
newsletter to keep folks up to speed
https://regionc.org/opportunity-zones/
Used our Economic Development Day to do three things:
1. Work with our Member Governments to do an assesst
assessment and mapping exercise with State Commerce
2. To educate our membership on Opportunity Zones
3. To have an Investors Gathering to create opportunities
for awareness of local opportunities and potential
investments
https://regionc.org/economicdevelopmentday2019/
Created Draft Prospectus Information for each zone in
our Region and will finalize with a map, demographics,
assets, and potential projects
Example:
Cleveland County, NC
Cleveland County Demographics
Cleveland County Demographics Labor
Cleveland County Maps
https://regionc.org/opportunity-zones/
https://regionc.org/economicdevelopmentday2019/
https://regionc.org/strategy/
https://us13.admin.mailchimp.com/templates/edit?id=362145
Isothermal Planning & Development Commission
Representing Cleveland, McDowell, Polk and Rutherford Counties
www.regionc.org
Thank You!

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The Planning Commissions Role in Leveraging Opportunity Zones

  • 1. Opportunity Zones The Planning Commissions Role Isothermal Planning & Development Commission Representing Cleveland, McDowell, Polk and Rutherford Counties
  • 2. The Tax Cuts and Jobs Act (H.R.I) • Each State Designate up to 25% of total low-income census tracts • NC has 46% (1000) low-income tracts out of 2,195 • Total of 252 Opportunity Zones in NC with a minimum of 1 per county • There are 8 in the Isothermal Region
  • 4. Opportunity Zones in Rutherford/Polk LAKE LURE R - S COLOMBUS FOREST CITY ELLENBORO
  • 5. Opportunity Zones in McDowell MARION
  • 7. Making the Isothermal Region investment-ready before the end of 2019 • IPDC will convene local governments in Isothermal Region • Purpose of which is to discuss the development of local and regional prospectus Next Steps
  • 8. Set up an Invite to our Membership and Partners in the Region to a Roundtable discussion on Opportunity Zones with the Richmond Federal Reserve’s Community Development Division
  • 9. Created a draft Prospectus Outline for our Membership to use https://regionc.org/wp- content/uploads/2019/06/oz-investment- prospectus-outline.pdf (of course we stole everything, I mean used other folks best practices…)
  • 10. Created a Web page for folks and a newsletter to keep folks up to speed https://regionc.org/opportunity-zones/
  • 11. Used our Economic Development Day to do three things: 1. Work with our Member Governments to do an assesst assessment and mapping exercise with State Commerce 2. To educate our membership on Opportunity Zones 3. To have an Investors Gathering to create opportunities for awareness of local opportunities and potential investments https://regionc.org/economicdevelopmentday2019/
  • 12. Created Draft Prospectus Information for each zone in our Region and will finalize with a map, demographics, assets, and potential projects Example: Cleveland County, NC Cleveland County Demographics Cleveland County Demographics Labor Cleveland County Maps
  • 14. Isothermal Planning & Development Commission Representing Cleveland, McDowell, Polk and Rutherford Counties www.regionc.org Thank You!