ALBUQUERQUE, N.M. (KRQE) – The City of Albuquerque announced Saturday it is in the running to be awarded $25 million in Opportunity Zone investment capital from Arctaris Impact Investors. The Boston-based group is expected to choose at least 10 locations across the country for the funding.
The Arctaris Place-Based Opportunity Zone investment initiative seeks proposals identifying local projects that promote economic development in low to moderate income communities in qualifying census tracts. The city’s proposal focuses on enhancing the Rail Trail, a multimodal public art esplanade located in the Downtown Opportunity Zone.
The Arctaris Opportunity Zone Fund was launched in 2019 with the intent to invest across the over 8.700 Opportunity Zones in all 50 states and U.S. territories. Awards are anticipated to be announced by June 2021.
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