President Donald Trump has signed an executive order to establish a new council that will work to encourage investments in urban and economically distressed areas.
The secretary of the Department of Housing and Urban Development and the assistant to the president for domestic policy will respectively serve as chairman and vice chair of the White House Opportunity and Revitalization Council, according to the executive order published Wednesday.
The policy directs the council to evaluate the measures each agency can implement to focus federal investments on "qualified opportunity zones" and other economically distressed areas and seek feedback from government officials and private-sector stakeholders on how to revitalize such zones.
The council will also coordinate interagency efforts to help private and public sector officials come up with economic growth strategies as well as recommend policies that seek to reduce administrative and regulatory burdens.
The council has 90 days to develop a work plan for the implementation of its function and mission, according to the EO.