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Developer Jeff Burns urges CRA to pursue Qualified Opportunity Zone designation for redevelopment area
Summary
Developer Jeff Burns told the CRA board that reviving Qualified Opportunity Zone designation for parts of the redevelopment area could attract capital; Burns offered consultant support and asked the CRA to help complete paperwork and engage the city manager.
Developer Jeff Burns addressed the board about Qualified Opportunity Zones (QOZs) as a tool to attract investment to redevelopment areas, urging CRA support for paperwork and state-level advocacy. "Effectively... it's a tax incentive that incentivizes people to direct capital gains into certain census tracts," Burns said, describing…
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