I read with interest the March 18 story (“Zones give new tax break to investors”) on federally designated opportunity zones and the possibility that the Fourth Plain corridor (the strip between Fort Vancouver Way and Andresen Road) will be named as one. As of The Columbian story’s publication date, the rules and guidelines had not been set out and the deadline for applying for such status is March 26. Fourth Plain project manager Andrea Pastor shared, however, that, “Commerce told us the investors would most likely be looking for the highest and most quick returns on investment.”
Since World War II, this country has seen two big pushes to remake vulnerable neighborhoods and make big money in the process: “urban renewal” and “fair housing.” Hundreds of vibrant, lower-income neighborhoods in cities across America were destroyed and millions of people displaced. And millions of dollars were made by developers who tore these neighborhoods down and built other things where they had been.
I urge the city of Vancouver not to allow any neighborhoods to be designated opportunity zones because the opportunity is the neighborhood and the investment incentives attached to it.
