Opportunity Zones – A New Tool for Paducah/McCracken County??
In 2017 Congress passed legislation titled the “Tax Cuts and Jobs Act.” (It seems the 2017 Congress was not real creative in the way they title their legislation.) I digress….
The important point is the “Tax Cuts and Jobs Act” creates “Opportunity Zones” which will encourage private and long term investment in an Opportunity Zone by potentially eliminating the tax on the capital gain created by the investment if the investor owns the investment for 10 years. Much of McCracken County could be eligible for designation as an Opportunity Zone.
More information is available on their website by clicking here.
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Eddie Jones is a practicing attorney in Paducah, Kentucky at the law firm of Boehl Stopher & Graves and also serves as a County Commissioner in his community of McCracken County, Kentucky. His background includes service in the United States Army and an undergraduate degree in Public Administration from Evangel University along with a Law Degree from the University of Kentucky College of Law. Eddie is interested in working to make Paducah and McCracken County more sustainable through bikeable/walkable neighborhoods, tourism including sports tourism, and the development of public/private partnerships including a focused, transparent plan for regional economic development.
What happened to the heartbeat of the inner-city of Paducah. I was part of a back to school tools giveaway program yesterday (8/10); on Nth. 10th Street. There was no movement, no signs of life, or seemingly interest. Another resident and I couldn’t believe it as we reminicsed on how it was very much part of memories of fun times with family and friends as we were growing up. The old Head Start School is lying dormant with potential to attract the surrounding neighborhoods, adjacent property needs developing and/or utilized, and the surrounding neighborhoods need access to activities in their immediate built environments. I lived in the Metro Atlanta surrounding neighborhoods for almost 28 years. Timing made sense to return to my home base in July. But I don’t know how much sense it takes to know if I need to stay. Where are the walk paths. Residents should be able to pull up just about anywhere in their neighborhoods and have access to a connected walk path for at least a one-mile walk for exercise. When I left here 30 years ago it felt like 30 years behind. I return it feels like 50 years behind. The Opportunity Zone is supposedly for opportunity, growth, and vitality. Where is any of it? Surely the residents, stakeholders, and community-at-large still care about their community and the very essence of the city they reside; within the perimeter of the city limits. Surely, there’s suggestions, concerns, and vision here. Surely there’s gotta be a better way!