The following are articles and reports on the web that the Community and Economic Development Program at the UNC School of Government shared through social media over the past month. Follow us on twitter or facebook to receive regular updates.
- Review of business location incentives under two NC governors with a focus on JDIG. Story provides a good general overview of the rationale for such incentives and pros/cons. http://bit.ly/2ShUSKv
- Excellent analysis of low income housing tax credit (LIHTC) projects and the financing gap created by the 2017 tax cuts, including a close look at the financials of a DHIC project in Raleigh. http://bit.ly/2Mg6qKw
- IRS issues updated rules for Opportunity Zones (OZ). Read the FAQ here: http://bit.ly/2EHYn4G. Could the new rules help local governments unload property that the government “involuntarily” acquired through abandonment, bankruptcy, foreclosure, or receivership? When OZ funds buy those categories of property in an Opportunity Zone, it is considered “original use” and therefore qualifies as OZ investment.
- Bank regulators (OCC, FDIC) issue proposed new rules for Community Reinvestment Act. How will it change the way governments and community development practitioners partner with banks to improve credit access in low income areas? Read closely: bit.ly/2RO9oJ.
- Local media in Laurinburg reports on financial feasibility analysis for redevelopment of historic Firestone Building, completed by UNC graduate students at no cost to the city. The students are earning their Masters in City and Regional Planning and Masters in Public Administration and completed the analysis as part of their coursework in the community revitalization course taught by School of Government faculty and DFI staff. http://bit.ly/2OJad4E
City of Kannapolis selects local developers for downtown project—another successful predevelopment effort by DFI to match public interests with financially feasible development. http://bit.ly/2P4OJOx