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: http://bit.ly/2RqEFjE

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:http://bit.ly/2XtDd5q

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: http://bit.ly/2XaH9Yx

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: http://bit.ly/2F9r37l

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: http://bit.ly/2wRefht

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: http://bit.ly/2KetN7C

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.
Link: http://bit.ly/2WJSxLO

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: https://wapo.st/2XcTmvY

Source: Washington Post