The RC Initiative focuses on creating meaningful and productive partnerships, which HUD will fully support through technical assistance and capacity-building activities. Technical assistance available to RCs will include easy access to available Federal resources and programs, a network for reaching out to the business community, and help in implementing courses of action. Building Lasting Alliances. The RC Initiative looks at ways to gain support and commitment from State and local governments to compose and refine a course of action that substantively addresses regulatory barriers, tax relief, and improvement of local services in the nominated areas. EZ Designation Increases Business EZs prove that even seemingly insurmountable obstacles faced by a distressed community can be overcome through public and private partnerships. The successes of EZs can be tangibly measured in $4 billion in new private-sector investments in community development, in improved bond ratings, and in increased numbers of decent and affordable housing structures. Seven New Zones. Urban communities will have the opportunity to compete for seven additional designations available in Round III. Currently, there are 23 designated urban EZs representing an elite group of communities renowned and nationally recognized for their successes in urban revitalization. More Tax Credits. One of the major benefits offered to Round III EZ designees is a generous multimillion-dollar tax package that will include the EZ wage credit and the Work Opportunity Tax Credit. Federal Bonus Points. Other benefits include special preferences and consideration in obtaining funding through other Federal competitions, with many offering bonus points to EZs. Technical Assistance. As a designated EZ, awardees receive funding and program information through HUD's Office of Empowerment Zones and Enterprise Communities. Round III EZ designees will have a network of experienced and knowledgeable Round I and Round II EZ communities to draw from for guidance and experience.