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 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