We want to share the story of Santa Cruz’s Human Services Department (HSD) outcomes contracting transformation, in which they moved through the steps we outlined in the first and second blog series. By the end of their two-year engagement with Third Sector that focused on improving their TANF Welfare to Work (WTW) subsidized employment programming, Santa Cruz HSD had built a more collaborative relationship with their two providers and had developed new outcomes and metrics to regularly review and work towards.
Opportunity Zones are a community development program authorized by the federal Tax Cuts and Jobs Act (2017), with the goal of encouraging patient capital to invest in long-term community development projects. The federal legislation allows newly authorized Opportunity Funds to aggregate and deploy capital by investing a minimum of 90% of assets in designated census tracts and investment types. In return, investors in Opportunity Funds can defer, reduce and even eliminate their federal capital gains taxes after five to ten years of local investment. Read more about how Third Sector