Rockefeller Foundation Designates Atlanta As Newest City in Opportunity Zones Initiative
ATLANTA, July 31, 2019 /PRNewswire/ -- The Rockefeller Foundation and Keisha Lance Bottoms, Mayor of Atlanta, today announced that Atlanta will become the second city to participate in The Rockefeller Foundation's Opportunity Zone Community Capacity Building Initiative. The initiative, which launched in May 2019, aims to help U.S. cities attract responsible private investment in economically-distressed communities through Opportunity Zones created in the 2017 Tax Cuts and Jobs Act.
Atlanta, which has more than 82,000 residents living in 26 designated Opportunity Zones, will receive $920,000 in grants and supportive services, including a $400,000 grant to establish and fund a Chief Opportunity Zone Officer embedded in Invest Atlanta, the City of Atlanta's economic development authority. Funding will also support the placement of two AmeriCorps VISTA (Volunteers In Service To America) members who will facilitate community involvement in proposed Opportunity Zone projects and businesses; and technical assistance to help develop project pipelines that balance the interests of investors with those of existing community members.
"As the wealth gap in the United States continues to widen, we recognize how a zip code impacts the economic opportunities for a community and its residents," said Dr. Rajiv J. Shah, President of the Rockefeller Foundation. "Atlanta has shown strong commitment to ensuring investment in its Opportunity Zones are designed with the most vulnerable in mind, and we are pleased to provide additional support to ultimately lift up these communities by enabling new pathways to economic mobility...