Opportunity Zone

Program Overview

Texas Governor Greg Abbott announced the state's Opportunity Zone designations. 628 census tracts in 145 counties were selected. The program, signed into law in December 2018 as part of the tax overhaul measure, H.R. 1, allows investors to defer capital gains taxes for up to 9 years on gains invested in a Qualified Opportunity Fund. These Opportunity Funds must in turn invest in an Opportunity Zone.

Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory.

Census tract 48085032013 is the only Opportunity Zone in Collin County and Plano.

For questions, visit the IRS Opportunity Zones Frequently Asked Questions page and the Opportunities Zone Map Tool.

Envision Oak Point

Future Land Use Plan

Envision Oak Point is a long-range planning policy that presents the community's vision for a 730-acre segment of northeast Plano, now known as the Oak Point area. Adopted by the Plano City Council on July 23, 2018, this community-driven planning policy serves as a guide for the future of this area, promoting new investment that responds to the community's vision of "Enhancing Community, Establishing Place".

The Envision Oak Point vision and strategic planning framework will be used by current and future city leadership to:

• Evaluate future zoning change requests and development proposals in Oak Point

• Plan for future infrastructure needs in and around this area

• Communicate a 30-year vision for the area, guiding short-,med-, and long-term change

Envision Oak Point enhances community and establishes place by unifying northeast Plano, serving as its social hub and shaping unique, amenity-rich neighborhoods connecting the area's diverse population to its vast network of natural features and open spaces.