Secretary Carson Visits Miami Opportunity Zones

Secretary Carson visits Tuscany Cove, an affordable housing apartment building for low income seniors that will be ready for occupation during the summer of 2019. HUD Secretary Ben Carson, Director of Miami-Dade Public Housing & Community Development Michael Liu,  HUD Southeast Regional Administrator Denise Cleveland-Leggett and U.S. Representative Donna Shalala during their visit to Opportunity Zones in Miami-Dade County.

HUD Secretary Ben Carson and Southeast Regional Administrator Denise Cleveland-Leggett recently toured projects located in Opportunity Zones in Miami. They visited Tuscany Cove, an affordable housing apartment building for low income seniors that will be ready for occupation during the summer. The visit to the property was guided by Miami Mayor Francis Suarez.

Secretary Carson and the HUD team, along with Director of Miami-Dade Public Housing & Community Development Michael Liu, and U.S. Congresswoman Donna Shalala also visited properties ready for improvements.

The Opportunity Zones (www.irs.gov/newsroom/tax-reform-creates-opportunity-zone-tax-incentive) incentive, created by the 2017 Tax Cuts and Jobs Act, was designed to spur economic development and job creation by encouraging long-term investments in low-income communities nationwide.

The incentive offers capital gains tax relief to investors for new investment in economically distressed communities designated as Opportunity Zones. Nearly 35 million Americans live in the 8,761 communities around the nation that have been designated as Opportunity Zones.

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