Supporting the Opportunity Zones

Problem Statement:

The Federal regulatory guidelines for Opportunity Zone investments in specifically low income track zip codes are vague and leave major gaps in how investments can be executed and who remains accountable for social impact. With recently released regulations and short timelines, it’s an important and formative time for these Funds across America, to engage community and consider a social impact framework. There are potential negative side-effects of shifting capital, namely displacement.

Target Group:

Low income neighborhoods in Minneapolis

Proposed Solution:

The benefit we expect to provide is a social impact framework that can be applied to investment decisions, a lens through which potential investment communities’ needs are considered.

Hub Activities:

Short & Long-Term Goals/Results:

One initial vision of success would be influencing MN-OZA and other Funds to adopt a social impact framework and commit to measuring and tracking outcomes of their investments. In doing so, we would hope that it would lead to positive outcomes in the communities that receive an influx of capital (more / better paying jobs, inclusive hiring for construction work, affordable housing, resources and support for entrepreneurs).

At a minimum, we will engage with the developer and investment entities, engage more local residents and community members by removing barriers to participation in meetings, and educating our networks on Opportunity Zone investments.

Available Metrics: