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54 TECH INNOVATION FOR OPPORTUNITY ZONES e U.S. Department of Housing and Urban Development (HUD) has announced that it will co-lead an Opportunity Zone-focused workforce challenge of the U.S. Census Bureau's "e Opportunity Project (TOP)" initiative. TOP is an accelerator program that matches tech companies, universities, government, and communities together to create useful digital products for the public. For this challenge, HUD said that it will collaborate with the private sector so that stakeholders in opportunity zones, including communities and investors, can use technology to strengthen investments in underserved areas. "HUD is pleased that leading innovators from across the country are directly taking on the challenge of developing products to help people invest in Opportunity Zones," said Ben Carson, Secretary, HUD. "We also want to thank the Census Bureau and the other agencies participating in this summer's Opportunity Project. Working together, we collaborate with the private sector to solve some of the most pressing issues facing Americans in economically distressed areas. is project will help ensure that Opportunity Zone stakeholders have access to the best data, innovation, and expertise as investment continues to flow into these underserved areas." e Census Bureau's Opportunity Project utilizes the expertise of professionals from across government, the technology sector, and private business to focus on a specific challenge during designated "sprints." e final products for the summer challenge will be shared in Washington, D.C., in December 2019, HUD said in a statement. "Government, the technology industry, and the communities that comprise Opportunity Zones all have a significant role to play in establishing new products and services that can benefit the Americans who need them most," said Scott Turner, Executive Director of the White House Opportunity and Revitalization Council. HUD said that the Opportunity Challenge was part of the work being undertaken by Carson as the Chair of the White House Opportunity and Revitalization Council. e Council's 16 Federal member agencies and Federal-State partnerships are engaging with governments at all levels—state, local, tribal, and territorial—and the private sector on ways to more effectively use taxpayer dollars to revitalize low-income communities. WHY INVESTORS ARE DISASTER- PROOFING HOMES Damage to residential and commercial real estate caused by natural disasters exceeded $300 million in 2017, and in response, many real estate investors are making the switch to "sustainable and resilient design and construction." In a post on Forbes, Daniel Neiditch, President of River 2 River Realty discussed what investors and builders are doing to protect their assets from natural disasters, such as hurricanes. According to Neiditch, many investors are incorporating climate-mitigation strategies into their properties, including seawalls, increasing elevation, and adding supplementary cooling systems into their existing properties, "reducing the risk of loss and major business interruptions." Neiditch notes that the physical building adaptations to mitigate climate risk are numerous, and "hardening" assets is key to protect against damage from natural disasters. "Doing so reduces this risk, improving asset efficiency, and the tenant's comfort by creating energy efficient options and other mitigation measures," he says. "Investments in climate change reduction are becoming more commonplace, but often need to have additional purposes to justify the expense—like reduced operational costs or improved tenant experience—for insurers to cover damages," Neidtech adds. Increased hurricane activity is expected throughout the rest of 2019, according to Colorado State University's hurricane forecast. e forecast pegs the probability of at least one major hurricane to make landfall along the continental U.S. coastline at 54%, slightly higher than the historical average of 52%. According to the report, six of the 14 named storms were likely to be hurricanes with two major systems that would carry winds of 11 miles per hour. Category 3, 4, or 5 hurricanes can cause much damage to life and property. In 2017, Hurricanes Harvey, Maria, and Irma together caused damage worth $265 billion according to data from the National Hurricane Center cited by Bloomberg, making it the costliest hurricane season in recent times.

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