By Realtor Magazine
President Donald Trump signed an executive order this week for federal agencies to prioritize moving their offices to opportunity zones, low-income areas flagged for revitalization. The executive order could prompt some federal agencies, such as the Department of Labor and Department of Housing and Urban Development, to relocate their offices to designated census tracts under the federal opportunity zones program, The Real Deal reports.
All federal agencies will be asked to stop prioritizing city centers and central business districts when considering new offices and instead explore relocating to a designated opportunity zone.
“Should federal agencies carry out President Trump’s order to prioritize relocation into qualified opportunity zones, there may be ancillary development opportunities (housing, for example), spurring more long-term investment in opportunity zones.”– Daniel Gauthier, Rose Law Group Transactional Attorney