Fifth Third Bank Pledges $100M For Opportunity Zone Projects

Law360 (January 24, 2020, 5:26 PM EST) -- Fifth Third Bank will invest $100 million in low-income areas known as opportunity zones through partnerships with the National Equity Fund, Raymond James and two other fund partners, it said Friday.

Fifth Third Bank NA will commit $25 million to an opportunity zone fund with the National Equity Fund, an affiliate of affordable housing financier Local Initiatives Support Corp., and another $25 million to a fund under the Raymond James Financial Inc. umbrella, the announcement said. Two other partners have not yet been announced.

Opportunity Zones are federally designated areas set up under 2017’s federal tax overhaul. The Tax Cuts and...

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