58 OPPORTUNITY ZONE MAGAZINE | VOLUME 2 • ISSUE 1
IT TAKES A DECADE TO SUCCEED - GET TO KNOW
YOUR OZ PARTNER
By Ian Wolfe Ross
What should the public and private sectors know about each other to accelerate OZ projects in 2021 and how do they maximize success through the ten-year hold ?
About a third of people who marry in 2021 will divorce
before their ten-year anniversary . 1 That ’ s right , one
in three couples who share vows , promises , goals , and dreams , “ till death do us part ” will peace-out long before 2031 , go separate ways , pursue new opportunities , and be forced to reckon with messy financial and familial entanglements .
For opportunity zone investors , the ten-year hold presents the greatest opportunity for significant reward - assuming the asset has appreciated - and the risk side of the investment can be defined as pretty much each of the preceding 3,649 days .
For city leaders , elected officials , and economic development professionals ( together , local leaders ) the time frame , and even the definition of success can vary and be influenced by a wide range of considerations , including but not limited to social , environmental , political , economic , and community priorities . And since political cycles tend to last for four years , not ten , these priorities , and the personnel who carry them out , may change at least one time , and maybe twice - over the course of a ten year investment .
Here is the groundwork for public and private sector industry participants , including revealing the common goals and divergent priorities , and to daylight some of the assumptions about the ‘ other side ’, in order to create a shared understanding of what
OPPORTUNITYZONE . COM