Reid Thomas’s presentation “Establishing Best Practices in Opportunity Zone Administration” was hosted at The Opportunity Fund Investing Conference
Last month, we introduced a purpose-built Opportunity Zone Fund Administration Solution to add to our lineup of award-winning financial administration services. On the back of this new service offering, we recently confirmed that Reid Thomas, Executive Vice President at NES Financial, will speak at the upcoming Opportunity Fund Investing Conference hosted by Community Development Corporation of Oregon.
The Investing in Opportunity Act was signed into law on December 22, 2017, with the purpose of encouraging long-term investment into targeted economically distressed areas across the U.S. Based on their duration, Opportunity Zone (OZ) investments offer investors significant tax incentives, including temporary tax deferral, partial reduction of taxes on an investor’s realized capital gains, and total elimination of taxes on all capital gains due to the appreciation of the OZ investment. As a result, the OZ program opens up enormous potential for developers looking to raise capital at attractive rates and use it to acquire or improve business properties within the qualified zones. With over $6 trillion in unrealized capital gains in the United States, this program has the potential to be the most impactful economic development initiative in history.
The Opportunity Fund Investing Conference will be held on September 14 in Portland, Oregon, with the aim of educating potential investors on the program’s benefits, as well as how to navigate its particular challenges. Mr. Thomas’s presentation, “Establishing Best Practices in Opportunity Zone Fund Administration,” will highlight the advantages of a fund administration solution purpose-built for the Opportunity Zone program.
“The Opportunity Zone program has the potential to provide tremendous benefit to all Americans,” Mr. Thomas said. “As a newly created program with evolving regulations and a fixed time horizon, the success of Opportunity Zones will be highly dependent on industry establishing and adopting best practices that ensure the highest levels of security, transparency, and compliance for all stakeholders. With our track record in similar market sectors, and our purpose-built OZ fund administration solution, NES Financial is uniquely positioned to deliver administrative excellence in this new space.”
Read the full press release by clicking here.
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