The Governor had 90 days from the day the bill was passed on December 22, 2017 to nominate census tracts to be designated as Opportunity Zones. In Birmingham, we immediately began to co-create a model to prioritize census tracts based on their ability to absorb capital.
While securing Opportunity Zones was an important first step, investment is not guaranteed. The Birmingham Inclusive Growth (BIG) Partnership was designed to identify transformational projects in our communities and attract investment into the City and our neighborhoods.
The BIG Partnership is a public-private initiative that leverages Birmingham's 24 Opportunity Zones. The partnership's twin goals are to (1) enhance the quality of life of our residents and (2) produce tangible returns to investors.
The linchpin of the partnership is the world-class Investment Board (IB) of experienced institutional investors and Opportunity Zone experts who love Birmingham. The IB will leverage its expertise and network to help market Birmingham's Opportunity Zone project.
Why? An Opportunity Zone designation does not guarantee funding. We need experienced investors to source capital for investable projects.
The City of Birmingham is uniquely positioned to convene and facilitate the relationships between the private, philanthropic, academic and civic sectors, as well as neighborhood leadership. Through a constellation of resources, the City also brings a competitive advantage to investors to accelerate projects.
Why? The City is uniquely position to drive inclusive growth: understanding the needs of it’s residents, convey assets to spur transformational projects and deploy vehicles for development (zoning, permitting and incentives).
Our Community Investment Board (CIB) promotes inclusive growth for all community residents. Made up of local civic leaders, this Board ensures that the community's needs and priorities are addressed, identifies projects and safeguards our neighborhoods' cultural heritage by bringing resident voices to the table.
Why? These leaders were chosen because of their experience liaising with their community. The board will advise the Investment Board and will work to drive investment into neighborhoods.
COMMUNITY INVESTMENT BOARD (CIB)
The Community Investment Board (CIB) is comprised of 10 residents of Birmingham, one from each Council District and will serve as an Advisory board to the BIG Partnership. The CIB is charged with sourcing projects. Your representative is below.
Not sure which Council District you live in? Check here.