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Legislative Alert: HUD Publishes Request for Information on How HUD Can Better Serve Distressed Communities; Opportunity Zones

Posted By Administration, Monday, April 22, 2019
Concurrent with the release of the IRS regulations, the U.S. Department of Housing and Urban Development (HUD) published a Request for Information (RFI) on the Federal Register requesting further information on how HUD can better facilitate public private partnerships in distressed communities, including Opportunity Zones. The HUD Secretary, Dr. Ben Carson, is the chairmen of the White House Opportunity and Revitalization Council, which was created by the President by executive order.
 
Specifically, HUD requested input on these questions:
  • How HUD should use its existing authorities to maximize the beneficial impact of public and private investments in urban and economically distressed communities;
  • In what ways could HUD structure preference points for Opportunity Zones and incorporate policy objectives in the rating factors for applications in discretionary grant competitions to increase incentive to invest in Opportunity Zones;
  • What type of technical assistance should be offered through HUD;
  • How HUD should prioritize support for urban and economically distressed areas, including Opportunity Zones, in its grants, financing, and other assistance;
  • How HUD can ensure existing residents, businesses, and community organizations in Opportunity Zones benefit from the influx of investment;
  • How HUD can properly evaluate the impact of Opportunity Zones on communities;
  • How might Qualified Opportunity Fund investments support the goal of ending homelessness;
  • How HUD should interact with other stakeholders to maximize the success of the Opportunity Zone incentive; and
  • Any other aspects of Opportunity Zones that should be considered and are not addressed in this request for information.
 
Comments will be due 60 days after the posting of the RFI, which will be June 17, 2019. NALHFA will be working on putting together comments, please stay tuned for more information. Please send all comments and suggestions to Katelynn Harris at kharris@nalhfa.org

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