Nipsey Hussle and the Opportunity Zone Dream

Townhall | 5/15/2019 | Staff
Kaliela101 (Posted by) Level 3
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A basic law in physics says that energy cannot be created or destroyed. It can only be changed from one form to another.

Rule - Applies - Society

The same rule, I think, applies to society.

There is a given amount of human energy. Is it going to be directed creatively? Or destructively?

Play - Life - Death - Rapper - Nipsey

We see both at play in the life and death of rapper Nipsey Hussle.

Hussle was a born entrepreneur. According to a newspaper account, it's what earned him his nickname.

Shoes - Age - Money - Music - Investments

He was polishing shoes at age 11 to earn money. Then began his music. And then he moved into investments.

And then, at age 33, he was gunned down in front of his clothing store, Marathon Clothing, on the site of a strip mall in South Los Angeles that he and real estate developer David Gross had planned to develop through the new Opportunity Zone initiative.

Opportunity - Zones - Law - Part - Tax

Opportunity Zones became law as part of the Tax Cuts and Jobs Act of 2017.

The idea was to provide for trillions of dollars of capital sitting in various types of investments -- stocks, real estate, etc. -- to be redirected into investments in economically distressed areas around the nation by allowing the gains to be realized tax-free.

Treasury - Department - Zones - USA - Strip

The Treasury Department designated 8,700 zones across the USA that could qualify, which included the strip mall where Hussle's clothing store was located in South LA.

Hussle and Gross purchased the mall and planned to set up the "Our Opportunity" fund to develop the property into residential units and shops.

Concept - Investors - Partner - Investors - Residents

Their concept was to incorporate small investors through crowdfunding to partner with larger investors. This would enable residents of the local community to participate as investors and purchase homes in the residential units.

Hussle's concern was that the Opportunity Zone initiative might be successful in directing capital to distressed...
(Excerpt) Read more at: Townhall
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