Opportunity Zones Policy News
In this section, we're compiling policy highlights related to the Opportunity Zone program. This page will evolve as we develop a timeline of key milestones particularly relevant to the philanthropic community. Visit the Opportunity Zone (OZ) Resource Library for more information on the program.
Understanding Opportunity and Needs in Communities: Combine metrics that capture performance over time and across dimensions, creating detailed, data-driven profiles for each low-income community, and a clear commitment to engage communities directly, offering space for them to drive their neighborhoods' futures. Inclusive practices are not written into legislation, thus asking local leaders and private actors to step in.
Establishing Evidence of Outcomes and Platforms to Aggregate and Share It: Data (annually, over time, and transparently available) on investments is necessary to help assess impact and align with other community development programs. Participants discussed various considerations when developing tools, including data from investors and investees. Community voices can frame data with real experiences.
Maintaining Flexibility for Investors and Investees: Impact reporting should track against goals, while allowing investors and investees to adapt in response to need. It should also not create unnecessary reporting burdens for fund managers, particularly those driven by mission.
Commit to Ongoing Learning: Participants expressed the need to move swiftly to keep social impact central to dialogue. A lack of consensus on impact frameworks should not stand in the action and iteration.