{"id":2668,"date":"2019-08-30T11:12:53","date_gmt":"2019-08-30T15:12:53","guid":{"rendered":"http:\/\/lifeaftercarbon.net\/?p=2668"},"modified":"2019-08-30T11:21:58","modified_gmt":"2019-08-30T15:21:58","slug":"putting-real-urban-opportunity-equitable-and-clean-into-opportunity-zones","status":"publish","type":"post","link":"https:\/\/in4c.net\/2019\/08\/putting-real-urban-opportunity-equitable-and-clean-into-opportunity-zones\/","title":{"rendered":"Putting Real Urban Opportunity–Carbon-Free and Equitable–into Opportunity Zones"},"content":{"rendered":"

In a report featured in GreenBiz–<\/em>“Opportunity zones could provide major boost for clean energy, sustainable development”<\/a><\/strong>–INC partners Julia Parzen & Graham Richard explain how the federal\u00a0Opportunity Zone program can be leveraged to\u00a0produce gains for communities, investors, and the planet.<\/p>\n

Julia and Graham chart various innovative ways to use OZs that are already being pursued:<\/p>\n

“The OZone program is a good fit for clean energy and sustainable development. First, the tax benefits \u2014 capital gain tax deferral, partial forgiveness of tax on capital gains and forgiveness of additional gains on investments in OZones \u2014 make it easier to include sustainability features because the projects can deliver higher returns and be structured with simpler capital stacks. The higher return on Opportunity Fund investments, for example, could allow sponsors of clean energy projects to add features to projects or partner with energy customers that are considered more risky, as proposed by Jon Bonanno, CXO of New Energy Nexus. New Energy Nexus provides assistance to global energy entrepreneurs.”<\/p>\n

“Second, the program allows for more comprehensive and holistic projects. In fact, the lack of restrictions on investments in the Opportunity Zone program creates an opportunity for integrated, interdisciplinary development plans. With the clarifications in the federal rules for OZones making it clear that clean economy projects are eligible, every project can be a clean energy and a clean jobs-producing project.<\/p>\n

“Third, the program allows for a deeper commitment to neighborhood success than many past economic development incentives. That\u2019s why Bo Menkiti of the Menkiti Group has teamed up with Local Initiatives Support Corporation (LISC) to pursue OZone funding for its Neighborhood Investment Model<\/a>, which includes LEED buildings. Because OZone investors must keep their capital invested for a full decade to realize the maximum tax benefits, they have a stake in a neighborhood’s long-term success. In this way, the OZone program creates space to combine clean energy projects with initiatives to train local workers and nurture new local clean economy businesses.”<\/p>\n

Full Parzen\/Graham report<\/a><\/strong><\/p>\n<\/span>","protected":false},"excerpt":{"rendered":"

In a report featured in GreenBiz–“Opportunity zones could provide major boost for clean energy, sustainable development”–INC partners Julia Parzen & Graham Richard explain how the federal\u00a0Opportunity Zone program can be leveraged to\u00a0produce gains for communities, investors, and the planet. Julia and Graham chart various innovative ways to use OZs that are already being pursued: “The […]<\/p>\n","protected":false},"author":2,"featured_media":2196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[161,14,27,26],"tags":[],"class_list":["post-2668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-renewable-energy","category-reports","category-urban-transformation"],"_links":{"self":[{"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/posts\/2668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/comments?post=2668"}],"version-history":[{"count":4,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/posts\/2668\/revisions"}],"predecessor-version":[{"id":2672,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/posts\/2668\/revisions\/2672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/media\/2196"}],"wp:attachment":[{"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/media?parent=2668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/categories?post=2668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in4c.net\/wp-json\/wp\/v2\/tags?post=2668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}