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Opportunity Zones Newsletter Week of May 13, 2019

EIG Applauds Bipartisan Bill on Opportunity Zones Reporting Requirements

The Economic Innovation Group welcomed bipartisan Congressional action to affirm the importance of investment transparency in Opportunity Zones.

“This bipartisan legislation will provide transparency regarding how and where capital gets deployed by Opportunity Funds,” said EIG President and CEO John Lettieri. He also said it would underpin “important analysis” of whether OZ implementation is “effective at facilitating the outcomes Congress intended.”

READ THE FULL EIG ARTICLE

The First Venture Capital Opportunity Zone Fund Opens in the U.S.

The Pearl Fund today announced the launch of a new investment vehicle focused on Opportunity Zone businesses.

Following the recent tranche of Opportunity Zone regulations, the 2019 Fund will raise $25 million from investors with capital gains who are seeking tax-free venture capital returns.

READ THE FULL YAHOO FINANCE ARTICLE

The Best-Performing Opportunity Zones for Real Estate Investors

A new study by analytics firm Webster Pacific identifies the top Opportunity Zones for real estate investment.

In 22 of the country’s Opportunity Zones, the number of households with an income over $200,000 has grown by at least ten percentage points. “To see double-digit increases in a full 22 tracts raises the question: why were they identified as needing a tax break in the first place?”

READ THE FULL FORBES ARTICLE

FHA Announces Series of Incentives for Affordable Multifamily Housing in Opportunity Zones

FHA will reduce application fees and speed up processing for certain affordable housing programs.

“Fees for properties with at least 90 percent of units eligible for Section 8 or low-income housing tax credit residents will be reduced by two-thirds,” reports Novogradac. “The incentives are available immediately for affordable housing properties that haven’t applied.”

READ THE FULL NOVOGRADAC UPDATE

NES FINANCIAL OZ NEWS

OZ Industry Experts Share Their Insights

Watch the free webinar recording today.

We held a great webinar last month, 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 Zone Fund 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.