Members Of Congress Want Inspector General To Take A Hard Look At OZs

U.S. Sen. Cory Booker (D-N.J.), Rep. Emanuel Cleaver (D-Mo.), and Rep. Ron Kind (D-Wis.) are calling on the Treasury Department to take a close look at the process by which opportunity zones have been created.

The move comes after reports of zones created that do not meet the eligibility criteria. One in particular, in Downtown Detroit, purportedly benefits properties owned by billionaire Dan Gilbert, chairman of Quicken Loans and owner of the Cleveland Cavaliers, ProPublica reports. Gilbert previously donated $750K to the inaugural fund of President Donald Trump.

Development Matters

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RSK: Always some politico involved somehow, somewhere.

Ken Notes: I did my radio show, Development Matters, last week on Property Zones and while there are Funds that individuals (who have capital gains) can invest in, this program is for the investor or developer who has professional guidance and substantial capitol gains. So yes the wealthy and uber wealthy will benefit most. The question is are they creating jobs and improving neighborhoods.



- - Volume: 7 - WEEK: 46 Date: 11/12/2019 7:51:09 AM -