id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cjrl-4840	Jordan, Bre	DENOUNCING THE MYTH OF PLACE-BASED SUBSIDIES AS THE SOLUTION FOR ECONOMICALLY DISTRESSED COMMUNITIES: AN ANALYSIS OF OPPORTUNITY ZONES AS A SUBSIDY FOR LOW-INCOME DISPLACEMENT	2020	49	.pdf	application/pdf	15320	613	46	[Vol. 10:1 Similar to investment in Brooklyn and D.C., the Opportunity Zone legislation focuses on capital investment, but fails to incentivize community engagement, preserve affordable housing, and mitigate against displacement.9 Opportunity Zones may amount to little more than a tax cut for the wealthy that only furthers the economic burden on low-income residents who can no longer afford to live in areas they once called home.10 This Note illustrates the similarities between Opportunity Zones and other unsuccessful placed-based tax incentives, the potential negative im- pacts of Opportunity Zone legislation on affordable housing, and solutions to preserve accessible affordable housing. The median home value is $140,000, and the average percentage of Black residents is 85%.211 Chicago and state leaders not only accounted for the technical requirements of Opportunity Zone legislation (poverty and unemployment rates), leaders also conducted a general population analysis.212 Legislators also considered the existence of previous federal and state incentive programs in each area along with the economic development potential of each tract.213 As a result, the designated zones were concentrated across areas with “low labor force participation rates,” high unemployment rates, high poverty rates, and a high concentration of minorities.214 The designated tracts in Cook County are truly distressed with only five tracts out of 181 flagged as experiencing significant socioeconomic change since 2000.215 These zones exhibit an opportunity to create economic growth and development for long- term, minority residents in Cook County, Illinois.216 Legislators can help ensure that long-term minority residents realize the benefits of targeted Opportunity Zone investment through planning efforts that: improve accessibility to employment centers, increase the availability and access to living wage jobs, pair Opportunity Zones with workforce training programs, and foster collaboration between local stakeholders and public entities.	cache/cjrl-4840.pdf	txt/cjrl-4840.txt