You would need to find investments in zones in the affected area and be prepared to make long-term investments there with capital gains dollars.
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Can the OZ program help with rebuilding after tropical cyclone Imelda hit Texas?
I see the devastating footage of what Imelda is causing in Houston and surrounding areas on the news and I want to help. Are there any funds or projects in an OZ where I can make my investment help the people impacted by this disaster?
Answers
Consult the CDFI's official map and see if any OZs fall within the affected area. Congress already tried passing a bill to change OZs based on natural disasters. That bill failed, so I doubt the OZs will change based on acts of God.
Opportunity Zones were designated back in April 2018. If it is the case where the disaster areas coincide with the designated zones. Of course, the program can motivate investors to consider investing in those areas. Remember that once an area has been designated as a disaster area, other relief programs are activated to assist.
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