Three census tracts spanning major transportation corridors, downtown and other areas in Gainesville were approved this week for a new federal tax benefit designed to spur investment in economically disadvantaged areas.
But city officials are still looking into the details of the program that was created as part of the Tax Cuts and Jobs Act, the $1.5 trillion tax reform legislation enacted late last year.
Some local areas named part of federal ‘opportunity zones’
Program intended to spur growth in impoverished areas