[BoulderCouncilHotline] Opportunity Zone results

[Weaver, Sam]

To inform our discussion of use tables and the opportunity zone:

https://www.nytimes.com/2019/08/31/business/tax-opportunity-zones.html

It is clear that the tax breaks for the wealthy (those with capital gains to shield) COULD be used for beneficial projects in Boulder, but the initial results are heavily weighted towards the highest yield, lowest risk projects: luxury apartments and hotels in gentrifying neighborhoods.  If Boulder is to take beneficial advantage of this tax break for the wealthy to fund development in 10% of our city, we will need to protect the market rate affordability that currently exists there, and craft good rules for the projects to come.

All the best,

Sam Weaver
Mayor Pro Tem
Boulder City Council
weavers at bouldercolorado.gov<mailto:weavers at bouldercolorado.gov>
Phone: 303-416-6130

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