I believe that Opportunity Zones are a tool that can – and must – be useful for neighborhood revitalization. Opportunity Zones are not a grant, and investment is not guaranteed. Opportunity Zones around the University of Alabama at Birmingham will further develop the innovation corridor that will house the next generation of medical leaders.
In Birmingham, we are working to make sure Opportunity Zones work for everyone. We are evaluating interventions such as property tax freezes and other affordable housing development incentives that can be leveraged to ensure that residents and businesses in our Opportunity Zones actually remain in these communities and benefit from investments made by the BIG Partnership.
In order for Opportunity Zones to be successful in Birmingham, we need you. My administration believes that Opportunity Zones can only work to revitalize our neighborhoods when local knowledge, creativity and ingenuity are harnessed to invest in the quality of life of our residents.