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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 communities from designated census tracts (Opportunity Zones).
The city's role in the Opportunity Zone 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 Greater Orlando Aviation Authority (GOAA) controls a large number of the City-owned properties along the East Colonial Drive corridor between Bumby Avenue and Semoran Boulevard, consists of a patchwork of various sized strip commercial uses.
The vision plan is to refocus development towards a diversity of options including: housing, lodging, office and other uses, ultimately creating a more customer-friendly corridor by expanding the market for commercial activities and lessening the oversupply of retail uses.
The GOAA represent a major opportunity for redevelopment with the possibility to change the shapes, sizes and depths of the parcels within the area, while staying consistent with the OEA Airport Layout Plan (ALP) and FAA Regulations.
To transform the East Colonial Drive corridor, future redevelopment for new uses of the major parcels such as: Colonial Landing, Fashion Square, Koger Center, Colonial Plaza, Best Buy etc. are under consideration in order to add economic vibrancy to the corridor.
The Executive Airport currently relies on the funding from the lease income of the commercial properties along the East Colonial corridor.
The Orlando Executive Airport is conveniently located just three miles from Downtown Orlando - making it the perfect flight path for the corporate traveler. Additional airport tenants include nationally known rental car agencies, restaurants, shopping centers and manufacturing facilities.
Located within the airport is Sheltair Aviation Services; the leading aviation real estate, development and FBO network in Florida.
Easy access to all of Orlando’s major highways puts the majority of industrial and business centers within
minutes of the airport.
Surrounding the airport are retail properties, single-family residential properties, Park of the Americas and Azalea Park elementary school.