State, Local Governments Work to Steer Opportunity Zones Investment
Many state and local governments have fully embraced the incentive… others have expressed concerns.
“The involvement of local and state leaders in pursuing OZ investment in their communities is smart, in both attracting and directing investment,” writes Michael Novogradac. “The incentive is a work in progress, but the benefits of bringing billions of dollars of investment to low-income communities can be a game-changer.”
Home Sale Prices in Opportunity ZonesJump 25%
The federal tax incentive program has had an impact on its designated areas across the country.
With government officials projecting that more than $10 billion in private capital will pour into federal Opportunity Zones, real estate values in those areas are expected to jump. According to one study, so far they’re right.
Rubio, Scott Introduce Disaster Opportunity Zones Act to Aid Communities Recovering from Natural Disasters
New legislation may enact a new round of Opportunity Zonedesignations.
The Disaster Opportunity Zones Act (DOZA) would allow governors to nominate areas affected by 2018 hurricanes and California wildfires as Opportunity Zones, with the hope of stimulating local economies and encouraging private investment for disaster recovery.
The Opportunity Zone Regulation Delays Could Be Good News for Philadelphia
“As the delay in final regulations drags on, it may also solve one of the program’s problems by accident.”
Whereas the seven-year gains tax discount is only applicable to investments made by the end of this year, the 10-year hold condition applies to any investment made through June 2027 — and this could wind up having the bigger impact for CRE developers.