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The Planning Commissions Role in Leveraging Opportunity Zones

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During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Scott Dadson shared information on the Isothermal Planning and Development Commission's effort to incentive investment in the Isothermal Region through the Opportunity Zone Program.

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The Planning Commissions Role in Leveraging Opportunity Zones

  1. 1. Opportunity Zones The Planning Commissions Role Isothermal Planning & Development Commission Representing Cleveland, McDowell, Polk and Rutherford Counties
  2. 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
  3. 3. Opportunity Zones in NC
  4. 4. Opportunity Zones in Rutherford/Polk LAKE LURE R - S COLOMBUS FOREST CITY ELLENBORO
  5. 5. Opportunity Zones in McDowell MARION
  6. 6. Opportunity Zones in Cleveland
  7. 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. 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. 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. 10. Created a Web page for folks and a newsletter to keep folks up to speed https://regionc.org/opportunity-zones/
  11. 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. 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
  13. 13. https://regionc.org/opportunity-zones/ https://regionc.org/economicdevelopmentday2019/ https://regionc.org/strategy/ https://us13.admin.mailchimp.com/templates/edit?id=362145
  14. 14. Isothermal Planning & Development Commission Representing Cleveland, McDowell, Polk and Rutherford Counties www.regionc.org Thank You!

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