The federal government's Opportunity Zones program is offering a tax break to a marina for superyachts and adjacent planned development in West Palm Beach, Florida.
Justin Elliott, Jeff Ernsthausen, and Kyle Edwards report on how the Rybovich superyacht marina, located in West Palm Beach, Florida, just up the coast from Mar-a-Lago, came to be designated as an Opportunity Zone, and who stands to benefit from the designation.
Rybovich owner Wayne Huizenga Jr., son of the Waste Management and Blockbuster video billionaire Wayne Huizenga Sr., has long planned to build luxury apartment towers on the site, part of a development dubbed Marina Village.
Those planned towers, and the superyacht marina itself, are now in an area designated as an opportunity zone under President Donald Trump’s 2017 tax code overhaul, qualifying them for a tax break program that is supposed to help the poor.
Former Florida Governor Rick Scott "bestowed the tax break on the marina after a direct appeal from Huizenga Jr.," according to the article. "The state of Florida, based on an analysis of unemployment and poverty rates, had not originally intended to pick the census tract containing the superyacht marina for the program. But those plans changed in response to Huizenga’s lobbying…"
The article includes documentation of the process by which the marina and surrounding parcels won the Opportunity Zone designation.
Since its creation in the GOP tax reform bill of 2017, the Opportunity Zones program has faced repeated criticism for tax breaks delivered to wealthy land owners and developers in wealthy zip codes, seemingly far removed from the stated purpose of the program to deliver investment to economically distressed parts of the country.
FULL STORY: A Trump Tax Break To Help The Poor Went To a Rich GOP Donor’s Superyacht Marina
Popularity of Opportunity Zone Program Grows During the Pandemic
Investors are looking for safe places to park capital gains as volatility roils the stock market. Opportunity zone programs fit the bill.
Shuttered Baltimore Hotel Will Become Affordable Housing
The project will create 303 new workforce housing units in a former downtown hotel.
Opinion: Congress Should Expand the Opportunity Zone Program
The federal economic development program has brought over $100 billion in private investment to revitalize struggling communities.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
The Five Most-Changed American Cities
A ranking of population change, home values, and jobs highlights the nation’s most dynamic and most stagnant regions.
San Diego Adopts First Mobility Master Plan
The plan provides a comprehensive framework for making San Diego’s transportation network more multimodal, accessible, and sustainable.
Housing, Supportive Service Providers Brace for Federal Cuts
Organizations that provide housing assistance are tightening their purse strings and making plans for maintaining operations if federal funding dries up.
Op-Ed: Why an Effective Passenger Rail Network Needs Government Involvement
An outdated rail network that privileges freight won’t be fixed by privatizing Amtrak.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions