Ronald R. Fieldstone of Arnstein & Lehr.

In recent months opportunity zones (OZ) have become a major topic of interest among investors, developers, urban planners and community activists. With a flood of investment expected to pour into OZ areas, some of which include economically depressed areas, many communities are exploring ways to ensure this influx of new capital will have an overall positive impact and benefit for the underprivileged residents who live in these areas.

On Sept. 27, the city of Miami—one of the nation's hottest OZ markets—hosted the Opportunity Zone Expo Conference, bringing together leaders and dignitaries from across the OZ spectrum, to address the OZ program and how governments can play a significant role in the development process. Dignitaries who attended the conference included Secretary of HUD Ben Carson; Miami Mayor Francis Suarez; the acting administrator of the Small Business Administration (SBA) for the United States, Chris Pilkerton; as well as national and local representatives of the SBA.

It was wonderful to hear thought leaders speak about the tremendous viability of the OZ program, with the city of Miami being featured as a key area for development in accordance with public/private initiatives that would benefit all parties concerned.