What’s the latest on opportunity zones and how they stand to impact development?

Created under Republican-backed Tax Cuts and Jobs Act in December 2017, opportunity zones allow for investment banks and other entities that make money off capital gains — typically hedge funds and other large private investors — to move that income into a fund designated for business and development projects in census tracts that have a disproportionate number of low-income residents. In exchange, the investor can bypass federal taxes on the original capital gains after several years.