Dallas to receive grant of nearly $1M to drive responsible development in Opportunity Zones
The City of Dallas was awarded a $920,000 grant intended to drive responsible development in Opportunity Zones.
The two-year grant will provide the City of Dallas with funding for a Chief Opportunity Zones officer, two community engagement specialists and technical assistance from a national Opportunity Zone Technical Assistance team.
Dallas is home to 15 OZ Census tracts – including Hensley Field, the Cedars, West Dallas, the Oak Cliff Gateway, and the Lancaster Corridor — with a population of about 76,000 residents in these areas.
The Chief Opportunity Zones officer will work across city departments and at the community level to engage and inform residents about Opportunity Zones and how they can get involved as potential partners, project sponsors or investors.
Investment in federally designated Opportunity Zones does not require City approval. However, with the foundation’s support, the City of Dallas will execute several tactics to help to mitigate the negative effects of development-caused displacement, commonly referred to as gentrification.
“The Opportunity Zone initiative will serve the residents of Dallas well, complementing our neighborhood vitality programs to ensure local involvement and informing investments with community wisdom,” said Michael Mendoza, Chief of Economic Development and Neighborhood Services.
A resolution to officially accept the Foundation’s grant is on course for the Dallas City Council’s September 18 agenda.