Waterloo, Iowa is poised for transformative economic investment in three new Opportunity Zones!
Mayor Hart held the Waterloo Opportunity Zones Mini-Conference on June 12, 2019. The conference was presented with the Accelerator for America and WSP.
Find more information and download the WOZ Mini-Conference flier here.
Download the slide deck from WSP here.
Join the Waterloo Opportunity Zones WOZ update list by contacting Wendy.Bowman@Waterloo-IA.org or call 319-291-4301.
What Are Opportunity Zones?
The federal Opportunity Zones program offers investors a capital gains tax reduction in exchange for investing capital gains income into designated census tracts, known as opportunity zones. In fact, investors can defer and reduce realized capital gains on the principal invested, and even eliminate their capital gains tax burden on returns earned through the sale of investments in qualified Opportunity Zones.
The zones are comprised of U.S. Census tracts where the poverty rate is 20 percent or greater and/or family income is less than 80 percent of the area’s median income. The governor of each state is permitted to designate 25 percent of its “low income community census tracts” (LIC) as Opportunity Zones, subject to approval from the U.S. Treasury. Iowa has 247 eligible LICs, of which a maximum of 62 can be nominated. The tracts will be in place for 10 years.
Where are Waterloo's Opportunity Zones?
Downtown Redevelopment Zones:
Two OZs are located in and around Waterloo's rapidly developing downtown.
La Porte Road Redevelopment Zone:
The third is in the LaPorte Rd. commercial area along Highway 218.
The Waterloo Opportunity Zones Prospectus includes community data and details about each of the zones including maps and contact information.
View the Waterloo Opportunity Zones Prospectus (PDF) by clicking here