How Old Town Scottsdale Got Low-Income Opportunity Zone Status

by KJZZ Business News, Your NPR Station

STEVE GOLDSTEIN: The 2017 Tax Cuts and Jobs Act that was approved by Congress and signed by President Trump included a provision on opportunity zones. That gave states the opportunity to nominate certain areas — presumably low-income sections — as those zones, where developers would have incentive to build based on capital gains related tax breaks. The aim is intended to be the revival of neighborhoods and surrounding areas that may have been struggling. In Arizona, two designated opportunities zones are in Scottsdale, and one of them has some people scratching their heads. Wayne Schutsky is managing editor of the Scottsdale Progress. He wrote about the opportunity zones and is with me. Wayne, let’s begin with where Scottsdale’s opportunity zones are.

WAYNE SCHUTSKY: One of them is located at around 64th Street-McDowell area, which kind of qualifies [as] what most people would consider is maybe an area that could use some incentive for redevelopment. The other is located in downtown Scottsdale, however, which causes some heads to turn when people describe that as a low-income area.

GOLDSTEIN: That second zone, and let’s describe a little bit more. That’s where — it seems like a very much a tourist hangout, maybe just south of Scottsdale Fashion Square, kind of in that area?

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KJZZ Business News, Your NPR Station

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