Mayors Press for 'Opportunity Zones' Regulations in Treasury Meeting - Route Fifty
WASHINGTON — A group of mayors let Treasury Secretary Steven Mnuchin know during a meeting here on Thursday that they're itching to see forthcoming guidance for the Opportunity Zones program and offered suggestions about what they'd like it to include.
One point the mayors emphasized is that they would like to see the guidelines allow other federal and state tax incentive and economic development programs to be used in conjunction with the Opportunity Zones initiative, which offers tax breaks meant to attract private investment to low-income communities.
"We're eager to see the regulations come out and to start seeing some of this capital flow into our communities," Mayor Steve Benjamin, of Columbia, South Carolina, told Route Fifty on Thursday.
"We wanted to bring a sense of urgency," he added.
Benjamin, who is the current president of the U.S. Conference of Mayors, also noted that there is strong bipartisan support among mayors for the program and said that the group who met with Mnuchin was pleased with the secretary's interest level in the initiative and his specific knowledge about it.