Financial Capital Committee
The Financial Capital Committee would like to spend the year ahead developing plans for the County to Leverage Opportunity Zone funding.
As such, two presenters – the Clerk of the City of Chicago, Anna Valencia, and the Financial Capital Committee’s Christyn Freemon were invited to give presentations to the Commission to help us understand benefits and issues to consider with Opportunity Zones. They explained that “Opportunity Zone” is a designation of particular census tracts; created through a federal act which allows governors to choose low-income tracts in their states that could be assisted through investment and development.
The committee will be examining equity in policies associated with the commercial and industrial tax incentives available in opportunity zones.
The committee is hoping to focus on the Lincoln Highway Logistics Corridor Opportunity Zone for redevelopment near the many County assets that surround the corridor. The Committee will be exploring a marketing plan to further publicize the Lincoln Highway Logistics Corridor and any other opportunities or benefits for investors looking to develop in the south suburbs.
The committee also wants to help business owners understand when and how to reach out to government for tax incentives and resource.