Opportunity Zone
The City of Dayton is an Opportunity Zone.
What is an Opportunity Zone? Briefly, Opportunity Zones are an economic tool that allows people to invest in federally recognized distressed areas throughout the United State. The purpose? To spur economic growth and job creation in low-income communities while providing monetary incentive to investors.
Link: Opportunity Zones in Washington
How does it work? Opportunity Zones offer tax benefits to businesses of individual investors who can elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund.
This sounds great, right? Right. The City of Dayton, as a whole, is an Opportunity Zone as defined by the federal Tax Cuts and Jobs Act of 2017. As a federal program, the IRS has additional information, resources, and FAQ's to assist in use of this program.
Additional Resources:HUD - Opportunity ZonesDept. of Commerce