Opportunity Zones

Photo of Hialeah Palm Avenue Area

The Opportunity Zones program was established by Congress in the Tax Cut and Jobs Act as an innovative approach to spurring long-term private sector investments in low-income urban and rural communities nationwide.

Opportunity Zones offer three tax incentives for investors:

  1. Immediate tax deferral of eligible capital gains that are invested in an Opportunity Fund.
    • The deferral lasts until the earlier of the date that the interest in the Opportunity Fund is sold, or
    • December 31, 2026.
  2. Step-up in basis of the deferred-gain investment by:
    • 10% if the Opportunity Zone investment is held for 5 years
    • Additional 5% (totaling 15%) if the investment is held for 7 years
  3. Exclusion of taxation on investment appreciation if the investment is held for 10 years.
    • Qualifying investments must be sold by December 31, 2047 to benefit from this exclusion

Visit the U.S. Department of Housing & Urban Development's website on Opportunity Zones to access an interactive map to verify which Opportunity Zones are in your area and other helpful information for investors.

The City of Hialeah will work to attract Opportunity Zone investments that align with our community's needs in addition to making efforts to leverage projects to create new opportunities for residents and upward mobility for our community.

If you are a non-profit organization, or a developer willing to open a non-profit organization, interested in proceeding with this investment opportunity and pursuing a Community Housing Development Organization (CHDO) housing project, please contact Annette Quintana, Director of Grants & Human Services, at (305)883-8039 for more information on how to qualify.