Housing on Merit’s Housing Innovation Coordinator, Charly Ligety, attended the Navigating Opportunity Zones seminar in Los Angeles on June 12. “Opportunity Zone” is a designation created by the Tax Cuts and Job Act of 2017 to encourage economic development and job creation in distressed communities across the nation. Over the last year homeless rates have risen 12% in Los Angeles County and 16% in the City of Los Angeles, highlighting the urgent need for new affordable housing development. The event, hosted by the Office of Mayor Eric Garcetti and Enterprise Community Partners, was designed to provide nonprofit organizations, public agencies, elected officials and developers with a greater understanding about how to best utilize tax incentives without exacerbating displacement and gentrification, how to identify Opportunity Zones in Los Angeles County, and best practices in affordable housing, community and economic development. The event also included a Q&A with panelists Lori Chatman, Senior Vice President of Enterprise Community Investment, Inc. and President of Enterprise Community Loan Fund, Inc.; Ron Frierson, Director of Economic Policy, Mayor’s Office of Economic Development; and Ben Winter, Chief Housing Officer, Office of Mayor Eric Garcetti.
June 12, 2019