The Kresge Foundation today announced that it is committing $22 million to Opportunity Zone funds offered by Arctaris and Community Capital Management. In June of last year, Kresge — in partnership with the Rockefeller Foundation — announced an open call…

The city of Boulder, Colorado has seemingly been wary of the federal Opportunity Zones tax incentive since the very beginning. Only one of 12 eligible census tracts within the city was recommended to state leaders. And now, that one opportunity…

Following last month’s hearing on Qualified Opportunity Funds, the IRS has completed its second tranche of regulatory guidance. Yesterday, the proposed rules were submitted to the Office of Information and Regulatory Affairs for review. OIRA is a branch of the…

This past Thursday, February 14, the IRS Auditorium in Washington DC was packed to capacity with over 200 attendees as stakeholders spoke during the public hearing on proposed regulations: “Investing in Qualified Opportunity Funds” [REG-115420-18]. Hearing participants requested additional guidance…

The IRS will hold a public hearing tomorrow, February 14 at 10:00 a.m. EST, to focus on proposed regulations regarding qualified opportunity zone funds. The hearing will take place in the auditorium of the IRS Building located at 1111 Constitution…

Introduced in December 2017 as part of President Trump’s Tax Cuts & Jobs Act, the Opportunity Zones program incentivizes real estate and business investments in certain low-income communities throughout the country by providing investors with major tax breaks, so long…

Amazon had been criticized for locating their HQ2 in an opportunity zone in Queens, New York. As it turns out, they will not be taking advantage of the tax break after all. From Bloomberg: “We will not be using the…

Last week, Senator Tim Scott (R-SC) — along with 15 other Senators and Congressmen — sent a letter to Treasury Secretary Steven Mnuchin, seeking clarification on several matters related to the Opportunity Zones tax policy, specifically in regards to investments…

Manager interest in launching qualified opportunity zone funds is sky high, but most are still waiting to hear more regulatory clarity from the IRS. Thus far, most of the managers that have launched OZ funds are relatively small private wealth…

Two additional census tracts in Puerto Rico have been designated as Opportunity Zones by the Treasury Department. The two tracts — 72119130102, located in Rio Grande, and 72137122002 located in Toa Baja — meet the statutory criteria for a Low-Income…