The Looming Real Estate Crisis Plus Opportunity Zones Will Exponentially Expand the Wealth Gap

It is not a secret that the real estate market is suffering during this COVID-19 pandemic. Social distancing has caused businesses to shutter which has led to a decline in commercial real estate values. With workers forced to stay home, many people are unable to pay their rents and mortgages. These delinquencies will eventually lead to a large number of evictions and foreclosures. Opportunity Funds are poised to take advantage of this suffering.

FSIC Releases White Paper – The Marshall Plan for the Economic Recovery of Black America

As Americans deal with the ramifications of the Corona virus, the great racial disparities that have plagued African Americans for centuries have become starkly and deadly visible for all to see. An imperative exists for Congress to achieve the spirit of the 14th Amendment, the Civil Rights Act and enact affirmative remedies abolishing the residue of systemic racism. This inevitably requires developing a plan to save African American institutions including businesses, non-Profits, HBCUs and other entities serving traditionally under-resourced multicultural neighborhoods and communities.

Why Congress Should Postpone Implementation of Opportunity Zones and Consider Other Options

The Financial Services Innovation Coalition (FSIC) invites you to join us for a roundtable discussion titled: ” Why Congress Should Postpone Implementation of Opportunity Zones and Consider Other Options”. This discussion will be held Friday, December 13, 2019 at The Rayburn House Office Building, Room 2168, Washington, DC from 1:00 – 2:30 pm EST.

Opportunity Zone Fairness and Inclusion Act – Dear Colleague Letter – Congressman Hank Johnson

Under current provisions for Opportunity Zones, investors, developers, and their financial advisors benefit at the expense of communities the law is designed to help.
The Tax Cuts and Jobs Act of 2017 established the Opportunity Zones Program as a tax benefit to incentive development in poor neighborhoods. By providing this preferential tax treatment to investors, economically-distressed communities were intended to benefit through job creation, new housing, and community development.

Letter to Jamie Dimon of JPMorgan re: segregated investment funds

Dear Mr. Dimon,
We are writing you to express our concerns over your announced creation of your “segregated” fund for minority businesses. This effort concerns us greatly and we fear it sends the wrong message. We do not understand why you feel the need to segregate out your investments in minority businesses. Why is it you cannot invest in Black businesses as part of your regular business strategy?