Restrictions will chase money out of California

Gov. Gavin Newsom, wants California to conform narrowly to the Opportunity Zone program… only incentivizing affordable housing and green energy projects. Link:

Source: The Sacramento Bee

Potential For Opportunity

Her investment infusion could potentially be a source of funding to establish businesses, transform aging infrastructure and bring meaningful employment to OZs. Link:

Source: Virginian Pilot

Opportunity zones aren’t just for real estate

One problem has stood in their way, however: The rules are complicated. So complicated, in fact, that each set of regulations released by the IRS filled 100 or more pages, according to Paul Gevertzman. Link:

Source: New York Business

Opportunity Zones Give Big Law ‘Pop-Up’ Teams Plenty of Work

The opportunity zone teams are intended to exist only for limited time because investors must act by Dec. 31, 2026, and the pop-up teams tackle thorny issues relating to the new law, which attorneys call unusually broad. Link:

Source: Bloomberg

Rockefeller throws its weight into Opportunity Zone program

The Rockefeller Foundation announced an initiative to help U.S. cities attract responsible private investment in economically-distressed communities through Opportunity Zones created in the 2017 Tax Cuts and Jobs Act. Link:

source: real estate weekly

Are Deals Moving in Opportunity Zones After All?

The Opportunity Zone program is inspiring property owners that have held lower-quality assets with deferred maintenance to finally sell the assets, says Real Capital Analytics’ Jim Costello. Link:

Source: Globe St.

The ‘Three Waves’ Of Opportunity Zones Deadline near to Defer Capital Gains

What about taxpayers that already filed their 2018 income tax returns? Not to worry, such taxpayers can still achieve deferral of 2018 capital gains taxation.

Source: Kitces

The Residents get a say in the redevelopment

Habitat invested close to $20 million in repairs to stabilize the community before it even started talking to the residents about redesigning it. About 200 of the 340 families participated in the redevelopment. Link:

Source: Washington Post