Opportunity Zones

Opportunity Zones were a new concept when enacted as part of the 2017 Tax Cuts and Jobs Act.  They are designed to encourage capital investments in low-income communities nationwide that have been cut off from capital and have experienced a lack of business growth.  The City of Evart (census tract 26133970400) is one of 288 census tracts designated as an Opportunity Zone in the State of Michigan. 

Evart Community Meeting
On January 23, 2019 Mr. Tim Mroz; Vice President, Strategic Initiatives from the Right Place Inc. and Mary Kay Shaver, Partner, Varnum LLP, provided a presentation on Opportunity Zones to a group from the City of Evart.  In attendance were representatives from city government, the Downtown Development Authority (DDA), businesses, education, and non-profits.  The group learned about what an Opportunity Zone is, how they were designated, how they work, what an Opportunity Fund is, how they can be created, what they can invest in, and the next steps Evart can take. 

Evart Opportunity Zone Prospectus
The Osceola County Community Development Office created the City of Evart Opportunity Zone Prospectus for anyone interested in investing in Evart or the Evart Opportunity Zone (Census Tract 26133970400).  Investment opportunities exist in housing, downtown revitalization, and the air-industrial park.  The prospectus provides an overview of the Opportunity Zone program, an overview of the City of Evart and the Opportunity Zone, additional business incentives, and further details of the investment opportunities.  Printed copies can be obtained by contacting the Community Development office at (231) 832-7397.

Opportunity Zone Related Links: