- Thursday, January 28th, 2021
Scott Virtual Tour Highlights OZ Investment in Rural Colorado
WASHINGTON – U.S. Senator Tim Scott (R-S.C.) released the following statement on the fourth stop on his nationwide Virtual Opportunity Zone Tour, highlighting Four Points Funding’s investment in Colorado’s rural communities. Through this tour, Senator Scott is sharing good news from cities and towns across America as their citizens work together to create new jobs and breathe new life into their communities.
“Four Points Funding is changing the lives of workers in rural Colorado with their investment in high-quality, workforce housing—that wouldn’t happen without Opportunity Zones,” said Senator Tim Scott. “By attracting investors to smaller markets that they would usually overlook, Four Points is using the power of Opportunity Zones to raise the standard of living and bring new businesses to these neighborhoods. I am grateful for the work they’re doing and the lives that will be forever changed.”
Background:
- A majority of Four Points Funding’s investment is in workforce housing to help communities cope with the strain an influx of people puts on Colorado’s small communities.
- Building workforce housing also enables Four Points Funding to invest in projects such as Inclusion Coffee, which employs people with disabilities to teach them marketable skills and give them a community of belonging.
- In the last year and a half, development has begun on nearly 400 housing units in order to provide high-quality, multifamily housing to workers in resort-adjacent communities. These developments represent close to $250 million in project costs that wouldn’t happen without Opportunity Zone legislation.
- Four Points Funding recently launched their third OZ Fund, with a goal of raising $50 million for 10 projects.
In case you missed it, for the first three stops on the Virtual OZ Tour Senator Scott highlighted success stories in Hampton County, South Carolina, Erie, Pennsylvania, and South Los Angeles, California.
Created by a provision included by Senator Scott in the 2017 tax reform package, Opportunity Zones are the first major new effort to help our nation’s most distressed communities in decades. More than $75 billion in private sector investment has been committed to Opportunity Zones around the country. For more information on Opportunity Zones, click here.