Deadline: Ongoing
Amount: $2,000-$10,000
Website: https://oedit.colorado.gov/opportunity-zone-technical-support-grant
Description:
Grants of up to $10,000 to Colorado economic development organizations for long-term investment projects. Funding may be used to develop a project request for proposal, legal or accounting support on project structure, project feasibility studies, and to develop an investment memorandum or marketing materials.
The Colorado Opportunity Zone Program encourages long-term private investments by giving investors tax incentives for investing in real estate projects in designated low-income communities. Investors receive tax incentives in the form of deferrals, reductions, and possible elimination of certain federal capital gains taxes. For communities to attract capital to projects that the community wants and will benefit the residents, stakeholders need to build prospectuses, structure deals, and work to engage investors.
Projects can be private or publicly funded and/or organized. Projects need to:
- Be in a designated opportunity zone
- Have broad community support
- Be reasonably well-conceived by the time of application
- Be funded by opportunity fund capital
The Opportunity Zone Technical Support Grant application is open and operates on a rolling deadline, meaning applications will be reviewed as they are received. Generally, grant requests need to have a funding ratio of 1-to-3 non-state funding to state funding. The Opportunity Zone Steering Committee may waive this requirement if the applicant is unable to match funds.
Eligible applicants:
Your local economic development organization (or equivalent, such as chamber of commerce or municipality) needs to submit your application. Nonprofit organizations may apply if they have a letter of support from the local economic development organization.
PROGRAM CONTACT
Jack Tiebout
Opportunity Zone Program Manager
(914)-356-5570