(Bloomberg) -- Buried in the U.S. tax overhaul late last year was a provision designed to encourage investment in low-income areas selected as "opportunity zones." Investors who develop real estate or fund businesses in these areas will be eligible for tax breaks. However, some researchers and community groups are concerned that the incentives could end up getting used for projects that would have happened anyway. In some cities, like Oakland, the tax breaks may add momentum to gentrification that's already underway.
To contact the reporters on this story: Noah Buhayar in Seattle at nbuhayar@bloomberg.net, Dave Merrill in Washington at dmerrill6@bloomberg.net.
To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Matthew Philips at mphilips3@bloomberg.net.
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