City of Hollywood Opportunity Zones

Opportunity Zone

Hollywood has two Opportunity Zone designations:


Liberia – Oakwood Plaza – South Florida Design & Commerce Center 
Liberia neighborhood between Sheridan Street and Stirling Road between FEC and Anglers Avenue, which also includes all of the South Florida Design and Commerce Center. 


Young Circle – Hollywood Boulevard – South Federal Highway
In east Hollywood, from Polk Street to Pembroke Road from Federal Highway to Dixie Highway, including Young Circle.
 

Click here to view an interactive map of Opportunity Zones. 

Opportunity Zone Breakdown

Opportunity Zones are census tracts designated by the federal government, where investments receive preferential tax treatment under the Tax Cuts and Jobs Act of 2017. The idea is to spur economic development and job creation in these areas by providing tax incentives. Opportunity Funds are investment funds organized as a corporation or a partnership that invests in Opportunity Zones. These funds allow investors to defer federal taxes on capital gains until December 31, 2026. Investors can reduce their capital gains taxes by up to 15%, and if they hold the investment in the opportunity fund for 10 years, investors pay no taxes on gains earned on the new investment. 

The City's role in the Opportunity Zones program is to connect funding with projects, develop a database of investment projects, and leverage the projects to create new opportunities for residents and encourage upward mobility.

Click here to learn if you are located in an Opportunity Zone.

Qualified Opportunity Zone Fund

A Qualified Opportunity Zone Fund (QOF) is an investment vehicle organized as a corporation or a partnership. The purpose of investing in a qualified property within an Opportunity Zone is so the investment holds at least 90 percent of its value. Opportunity Zones are designed to spur economic development by providing tax benefits such as QOFs to investors. Investors can defer tax on any prior gains invested in a QOF until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026.

View Florida Qualified Opportunity Zone Available Funds


Opportunity Zone News and Updates
Opportunity Zone Links

For more information on Opportunity Zones in the City of Hollywood, please call Herb Conde-Parlato, Economic Development Manager in the

 

Office of Communications, Marketing and Economic Development at 954.924.2922.