Communities that receive RC or EZ designation will be able to use a revitalizing business tax incentive package valued at $22 billion nationwide.
HUD has used two previous rounds of designation, in 1994 and 1999, to give EZ status to communities in 23 cities throughout the country. These EZs have used federal, state, local and private funding as well as business tax credits to provide housing, health care, education, and new infrastructure throughout their distressed communities. HUD is offering communities another opportunity to apply for EZ designation. The Department will designate seven urban Round III EZs by December 2001. Applications are due by September 28, 2001. The designation period will be from January 1, 2002 to December 31, 2009.
Thanks to HUD News
FULL STORY: empowerment zone (ez) round iii competition information and resources
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