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Opportunity Zones Newsletter Week of April 8, 2019

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.”

READ THE FULL NOVOGRADAC ARTICLE

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.

READ THE FULL REAL DEAL ARTICLE

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.

READ THE FULL PRESS RELEASE

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.

READ THE FULL BISNOW ARTICLE

Forbes to Launch Inaugural OpportunityZones Summit: Investing for Impact

Event will be held on May 21, 2019, in Newark, New Jersey.

Created with policy partner EIG, this Opportunity Zones Summit is intended to “spark creative collaboration between industry leaders, spur best practices and set the national Opportunity Zones agenda for years to come.”

READ THE FULL FORBES ARTICLE

NES FINANCIAL OZ NEWS

How Much of an OZ Fund Can One Investor Own?

Opportunity Zones Q&A: Tax experts answer your questions.

“Is there a maximum ownership percentage (e.g., 10% or 20%) which a single investor can have in an QOZ Fund?”

READ THE FULL NES FINANCIAL ARTICLE

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OZ Industry Experts Share Their Insights

Watch the free webinar recording today.

We held a great webinar last week, hosted by NES Financial’s Reid Thomas and featuring representatives from Greenberg Traurig, Baker Tilly, Sixty West and Griffin Capital. Click through to watch the recording.

CLICK HERE TO WATCH THE RECORDING

NES Financial: The leader in Opportunity Zone fund administration.

Based on our industry-leading experience in other specialized financial markets, we’ve developed the first purpose-built Opportunity ZoneFund Administration Suite — designed to minimize risk and maximize investor confidence.

LEARN MORE ABOUT HOW NES FINANCIAL’S OZ FUND ADMINISTRATION SUITE COULD HELP YOUR FUND.