Tony Brown, the EDC’s Vice President of Community Development, participated in two national conversations promoting capital access for underserved areas: (1) Opportunity Zones (QOZ) and (2) the CDFI Fund, US Dept. of Treasury. In each instance, Tony advocated that both programs are needed and reported that Tampa’s small business and low-income communities benefited by attracting millions of private capital dollars to flow into our communities.
On April 9 – 12, 2025, EDC investor, Greenberg Traurig (GT), hosted the Qualified Opportunity Zones Program 2.0 that included nearly 100 participants from major investment funds, venture capitalists and real estate developers. Tony spoke on the panel using Qualified Opportunity Funds for Affordable Housing and Community Development. The QOZ 2.0 event was designed to help set the policy agenda for Congress to take actions on extending the QOZ Program and participants offered suggestions for changes. GT has been one of the leading law firms in structuring QOZ Investment Funds across the United States. For information about Opportunity Zones, visit the EDC’s website here: Invest in Opportunity Zones – Tampa Bay EDC
On April 17, 2025, Tony joined a group of nearly 50
commercial banks and community development financial institutions (CDFIs) for a conversation and listening session with US Treasury Deputy Secretary Michael Faulkender. The mission of the CDFI Fund is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers.
Among the invited participants were several EDC investors and Tampa Bay Economic Prosperity Foundation donors that included Bank of America, JP Morgan Chase, Regions and Wells Fargo. The participants spoke of the importance of the CDFI Fund in leveraging private sector resources to serve low-income communities. The group also addressed areas to improve the CDFI Fund and strategies to allow the New Markets Tax Credit program to reach more communities.
In 2024, the EDC formed Opportunity Tampa Bay, Inc. (OTBI) to provide investment capital and economic development services to businesses in low- income communities. Two CDFIs serve on the board of OTBI, Neighborhood Lending Partners and Suncoast Credit Union. Suncoast and GTE Financial, two of the state’s largest CDFIs and credit unions, are investors in the EDC. OTBI is developing the Live Learn Community in East Tampa. For information about the CDFI Fund or New Markets Tax Credits, visit the CDFI Fund’s website here: New Markets Tax Credit Program | Community Development Financial Institutions Fund.
