Near West Opportunity Zones

MAP
The City of San Antonio Economic Development Department (EDD) and the Westside Development Corporation (WDC) are presenting a request for proposal to develop a strategic plan for the Near West San Antonio Opportunity Zones: census tracts 1701.02, 1106 and 1105 (see map below). The goal of the strategic plan is to attract Opportunity Zone (OZ) investment in the West Side of San Antonio, a historically low-income area. Our aim is to provide a guide that aligns with community priorities, is sensitive to the existing cultural and historical wealth, and discourages displacement. Investments will stimulate positive community and economic growth. The WDC will direct and oversee all services performed in response to the RFP.

Opportunity zones

Opportunity Zones (OZ), are a new community development tool established under the Tax Cuts & Jobs Act of 2017 meant to encourage long-term investment in distressed communities. The program encourages long-term investment of previously unrealized capital gains in designated zones in exchange for deferment and reduction of capital gains taxes. Investments must be made through an Opportunity Fund (O-Fund), the investment vehicle that enables the tax benefits of the program.

For more information on the program please visit the U.S. Department of Treasury. Proposed regulations and Frequently Asked Questions can be reviewed on the IRS website.

Near West Opportunity Zones Quick Facts

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Citation: U.S. Census Bureau (2016). American Community Survey 5-year estimates. Retrieved from Census Reporter Profile page for Census Tract 1701.02, Census Tract 1105, and Census Tract 1106, Bexar, TX https://censusreporter.org/

Map of Near West Opportunity Zones

Additional Resources