3.1.36 Opportunity Zones
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
A. The 2017 Tax Cuts and Jobs Act (P.L. 115–97, Dec 22, 2017) created an investment vehicle known as Qualified Opportunity Funds, which invest capital gains into projects located in Opportunity Zones. Opportunity Zones are census tracts that are low-income communities as defined in Section 1400Z(c) of the Act. HUD has reduced application fees (also known as “exam” fees) for FHA multifamily mortgage
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insurance pursuant to the Section 221(d)(4), Section 220, and Section 223(f) for properties located in a qualified opportunity zone. Application fees are reduced from 0.3% of mortgage amount to 0.2% except for properties which are Broadly Affordable (see HUD’s Federal Register Notice dated March 31, 2016, 81 FR 18473), in which cases the application fee is reduced to 0.1% of mortgage amount. The referenced Federal Register Notice may be found at: https://www.regulations.gov/document?D=HUD-2016-00070001.
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