Anchor institutions, innovative governance, and transformative investments are driving urban revitalization. Universities, hospitals, and corporations lead redevelopment, while new institutional models and major projects reshape cities. These efforts, supported by creative financing, highlight the potential for greater impact with strong federal and state partnerships.

The Opportunity Zone tax incentive can attract private capital to low-income areas, but local governments and civic leaders must take action for inclusive growth. Cities should leverage local assets, support entrepreneurs, and promote affordable housing while replicating successful innovations across communities.

Jane Jacobs' ideas on finance emphasize the lasting effects of "cataclysmic money" on Opportunity Zones, urging a renewed focus on low-income communities. While progress has been made, existing systems struggle to attract private investment in these areas. The Opportunity Zone initiative presents an opportunity to develop a finance model that benefits local residents and fosters inclusive growth.

To fully leverage Opportunity Zone tax incentives, cities need modern institutions with strong capital resources and community trust. This requires assessing current institutions' capabilities in managing Opportunity Zones and potentially creating or adapting organizations to fill gaps.

As Opportunity Zones evolve, two simplistic narratives prevail: one focuses on listing investable projects for distant investors, while the other warns of gentrification. A balanced approach advocates for stimulating local market demand through strategies like increasing employment density, enhancing tech transfer, supporting local businesses, and revitalizing public spaces.

The Investing in Opportunity Act urges cities and investors to align private capital with local geographies. By treating urban archetypes as asset classes, Opportunity Zones facilitate funds that connect investments to community needs, fostering inclusive growth and guiding the development of viable projects.

Jeremy Nowak, a dedicated Philadelphia investor and advocate, passed away on July 28. His life focused on uplifting disadvantaged communities, and he co-authored "The New Localism" and helped establish the Nowak Metro Finance Lab at Drexel University.

Known for his intellect, humor, and candid nature, Jeremy uniquely combined strategic thinking with irreverence. His loss is deeply felt, but his legacy will continue through ongoing efforts to improve urban communities and foster collaboration, with a commitment to advancing the impactful initiatives they began together.

Cities using Opportunity Zone Investment Prospectuses have effectively united stakeholders, attracted investment, and identified community-focused projects. Recommendations include expanding adoption, leveraging data to showcase market potential, fostering collaborative financing, addressing broader community needs, and advancing health, energy, and social outcomes in underserved areas.

The United States is undergoing a rapid, uncoordinated defederalization, where responsibilities traditionally held by the federal government are being shifted to states, localities, and other sectors without a clear plan or adequate support.

A disconnect exists between large financial institutions and local regeneration efforts in neighborhoods affected by institutional racism. While these communities face limited access to capital, innovative practitioners are revitalizing them by prioritizing minority-owned businesses and integrated economic models, fostering inclusive growth through holistic neighborhood development and collaborative investment strategies.

Indiana's 1969 "Unigov" consolidation boosted Indianapolis' population and economy. A recent forum praised its benefits for growth and civic investment but noted shortcomings, like excluding schools, which perpetuated segregation. The need for strategies like Opportunity Zones was emphasized to revitalize urban neighborhoods and support residents, highlighting the importance of effective governance in fostering inclusive growth.