Lima receives two new opportunity zones

News Top Stories Facebook X Pinterest WhatsApp LIMA — The City of Lima will receive two additional Opportunity Zones, as well as have its three exisiting ones renewed, as announced Tuesday through the United States Department of the Treasury. The new designations give investors federal tax breaks for putting money into businesses and property within certain low-income areas of the city, according to a Lima press release. Lima residents and business owners can use the same tax break to invest in their own community, the press release said. The two new Opportunity Zones cover Lima’s south side, around Orena Avenue, and the southwest side, around Faurot Avenue. The three renewed zones cover the city’s southwest side, around South Dana Avenue; the near west side, around West Wayne Street; and downtown and the near east side. All five zones are also classified as rural, which allows investors to spend less on renovations to qualify for incentives, the press release said. Federal maps and the full designation list are available from the CDFI Fund at tinyurl.com/yya32ndv . Maps of Lima’s opportunity zones are available on the city’s website at tinyurl.com/4kd39z6z . Property owners, business owners and investors interested in projects in Lima’s Opportunity Zones can contact Shane Coleman, chief of staff, at 419-223-7283, or by email at [email protected] . Featured Local Savings