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.

RFP Information

The EDD and WDC encourage firms with knowledge of investment banking, real estate planning, and governmental economic development planning efforts to apply. Proposals should incorporate the following: Real estate investment, economic analysis, master planning, bilingual community outreach (English and Spanish), development projects and businesses seeking investment. The Strategic Plan should include the above scope in developing the plan while complementing other efforts being undertaken in the area. All work should reflect a master vision for the area that respects cultural and historic relevancy while positively impacting the community. The successful respondent must coordinate with private and public agencies and with entities that may be involved in other initiatives, master plans, development, redevelopment, and/or projects in the area, and will need to incorporate these initiatives into the Strategic Plan.

DEADLINE TO SUBMIT IS JANUARY 25, 2019, 4:00 PM CST

Respondents may submit written questions concerning this RFP to the Staff Contact Person listed below until 4:00 p.m., Central Time, on Friday, January 11, 2019. Questions received after the stated deadline will not be answered. All questions shall be sent by e-mail. Answers will be displayed below in addition to any amendments or clarifications.
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:

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