The Opportunity Zone Program is a federal program that provides tax incentives, including temporary deferrals on capital gains taxes when investors reinvest those gains in qualified Opportunity Funds. These funds are in turn invested in low-income communities from designated census tracts (Opportunity Zones).
The city's role in the Opportunity Zones program is to connect funding with projects, develop an investable pipeline of projects and to leverage these projects to create new opportunities for residents and encourage upward mobility.
The city's long-term strategy for success includes layering incentives for specific projects based on compatibility with community goals and creating a development overlay to promote inclusive and equitable growth for existing businesses and residents with the goal of implementing protection from displacement.
Twelve of the 427 recommended State of Florida communities designated as Opportunity Zones reside in the City of Orlando.
The final twelve certified recommendations are listed below on the map.