HUD Secretary to Chair New White House Opportunity and Revitalization Council

Regulation | December 13, 2018 | by

On Dec 13, President Trump issued an Executive Order establishing the White House Opportunity and Revitalization Council to improve revitalization efforts by streamlining, coordinating, and targeting existing Federal programs to Opportunity Zones, economically distressed communities where new investments may be eligible for preferential tax treatment.

In furtherance of legislation passed this summer to create “qualified opportunity zones”, this order establishes a White House Council to carry out Trump Administration plans to encourage public and private investment in urban and economically distressed areas, including qualified opportunity zones. The Council shall lead joint efforts across executive departments and agencies to engage with State, local, and tribal governments to find ways to better use public funds to revitalize urban and economically distressed communities.

The Council is tasked to implement reforms that streamline existing regulations, protect taxpayers by optimizing use of Federal resources, stimulate economic opportunity and mobility, encourage entrepreneurship, expand quality educational opportunities, develop and rehabilitate quality housing stock, promote workforce development, and promote safety and prevent crime in urban and economically distressed communities.

The Council shall be chaired by the Secretary of Housing and Urban Development (HUD), or the Secretary’s designee. The Assistant to the President for Domestic Policy, or the designee of the Assistant to the President for Domestic Policy, shall serve as Vice Chair of the Council.