• Home
  • Archive
  • Media Kit
  • Contact Us
  • May 9, 2025

The Madison Times

The Paper That's More Than Black and White

  • News
    • Local News
    • National News
    • International News
    • Sports News
    • Education News
  • Columns
    • Columnists
    • Editorials
    • Letters to the Editor
    • Life Lessons with Alex Gee
  • Events
  • Health
  • Finance
  • Lifestyle
  • Classifieds
  • Community
    • Middle Spread
  • Milwaukee

Share this:

  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

HBCU-focused Opportunity Zone Fund is the First of its Kind to Direct Mixed-Used Development in HBCU Communities

January 5, 2019

By Nyesha Stone

When our people weren’t allowed into certain universities, we created are own. But, fast forward, a majority of Historically Black College Universities (HBCUS) are located in low-income communities, and lack the opportunity to gain big investors. But times are changing.

Last year, Congress established a section in The Tax Cuts and Jobs Act that allows taxpayers to take advantage of Opportunity Funds. The goal of the investment is to encourage direct resources to low-income communities—known as Qualified Opportunity Zones—through a more market-driven strategy.

Through these investments, low-income communities can gain opportunities such as a grocery store in a food dessert, medical offices and restaurants. The funds are meant to push investors to invest in areas they tend to ignore or are hesitant about.

According to Accounting Today, there are three tax incentives for investors: “Deferral of capital gain; Possible reduction of the amount of gain realized through a basis adjustment; and, Possible permanent exclusion of gain on the appreciation for the interest in a Qualified Opportunity Fund.”

Half of the country’s HBCUs and a majority of Black communities are located within the 8,700 federally designated zones, according to a press release. With this opportunity, the HBCU Community Development Action Coalition (CDAC) established the first HBCU-focused Opportunity Fund to jump-start reinvestment in and around HBCUs through The Renaissance HBCU Opportunity Fund.

Ron Butler, president of the HBCU CDAC, said the opportunity zones can be whatever the community wants.

“Everything we do as a collation starts with the community,” said Butler. “It’s all about the community and the campus.”

Butler remembers attending Howard in his younger days and not having the option to go get a cup of coffee or even a slice of pizza. But with funding, the opportunities of what is on and around campus is endless.

“It’s really a major effort to attract a big capital to underserved communities,” Butler said about the potential impact the Fund may have.

According to a press release, the Fund has been selected to receive support from the Kresge and Rockefeller Foundations through the Opportunity Zones Incubator. It will provide technical assistance to help get the Fund to market.

The Fund was made possible from the partnership between the HBCU CDC and Renaissance Equity Partners, which will pursue mixed-use projects that will attract business and create workforce housing opportunities targeted to junior faculty, staff, graduate students, and military veterans with GI Bill benefits, which was also stated in the press release.

To find out more about opportunity zones visit https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx

Share this:

  • Tweet
  • Click to email a link to a friend (Opens in new window) Email
  • Click to print (Opens in new window) Print

Popular Interests In This Article: Historically Black Colleges and Universities, Nyesha Stone, Opportunity Funds

Read More - Related Articles

  • Milwaukee News Company Secures Partnership with Amazon
  • DEI’s Toll on HBCU’s
  • USDA Cuts Deal Another Blow to Historically Black Colleges
  • Biden-Harris Administration Announces $1.3 Billion in Additional Funding for Historically Black Colleges and Universities
  • HBCUs Get Historic Funding from Biden-Harris Administration


Connect With Us

Become Our Fan On Facebook
Find Us On Facebook


Follow Us On Twitter
Follow Us On Twitter

Editorials

Karma Chavez
Amanda Zhang
Julianne Malveaux
Benjamin Chavis
George Curry

Journalists

Jacklin Bolduan
Brianna Rae
Aarushi Agni
Rob Franklin
Claire Miller

Topics

Brown Girl Green $
Young Gifted & Black
Universally Speaking
Ask Progress
Civil Rights

Topics

Police Shooting
Police Brutality
Black Lives Matter
NAACP
Racism

Politicians

Barack Obama
Hillary Clinton
Gwen Moore
Paul Soglin
Scott Walker

Contact Us

Phone:
414-449-4860

Copyright © 2025 Courier Communications. All Rights Reserved.
We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.