The federal Opportunity Zones program is a new reinvestment and redevelopment tool that is available to nearly 150 designated areas of Maryland including many in rural areas of the state.
The Opportunity Zone program is a federal initiative established in 2017 and administered by the U.S. Department of the Treasury. The program provides federal tax incentives for investment in distressed communities over a 10 year period. Areas designated as Opportunity Zones will be able to reap the benefits of capital gains to help redevelop underserved communities. Qualified Opportunity Funds are able to provide investments in projects within designated zones. In Maryland, there are 149 designated Opportunity Zones across the state including dozens across rural Maryland.
Preservation Maryland is hosting two free public meetings about Opportunity Zones in an effort to encourage their understanding and use by communities across Maryland. Representatives from the Maryland Department of Commerce and the Maryland Department of Housing and Community Development will lead these discussions and provide valuable guidance. Both evening events follow a Preservation Maryland pop-up office open earlier in the day in that same community.
OPPORTUNITY ZONE WORKSHOPS
Central Maryland
Tuesday, May 7, 2019, 6PM-7PM
City Park Building
655 East Potomac Street
Brunswick, MD 21716
Event Details
Western Maryland
Tuesday, May 14, 2019, 5:30PM-6:30PM
Community Room 308/309
Washington County Free Library
100 South Potomac Street
Hagerstown, MD 21740
Event Details
Additional Resources
What are Opportunity Zones? (PDF)
Maryland Department of Housing and Community Development
Interactive Opportunity Zone Map
Maryland Department of Housing and Community Development
Revitalizing Rural Maryland: A Resource Guide for Communities
Preservation Maryland
Workshop partners
