Opportunity Zones News

Allen Alley

Allen Alley: Solar Energy Development in Opportunity Zones

Will the opportunity zone initiative accelerate the nation’s transition to renewable energy? Find out why solar energy development and opportunity zone investing may be ideally suited for each other. Today’s guest is Allen Alley — technology investor, former Republican candidate for governor of Oregon, and co-founder of the Obsidian Opportunity Fund. Obsidian’s fund applies opportunity

Continue reading »
Lamps

Who’s investing in OZs? So far, mostly wealthy individuals

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 management firms and family offices oriented toward wealthy individual investors, according to P&I. Of course,

Continue reading »
Greg Genovese

Greg Genovese: Project-Driven OZ Funds

Happy New Year! The Opportunity Zones Podcast took a short hiatus last week for Christmas, but we are back for another episode. Today, I am speaking with Greg Genovese, president of Sound West Realty Capital, a real estate development group based in the Seattle area. Originally from the California Bay Area, Greg relocated to Bremerton,

Continue reading »
Vijar Kohli

Vijar Kohli: Small Business Investing in Opportunity Zones

New business development and job creation in economically blighted communities were two of the main goals of the opportunity zone legislation passed by Congress last year. But so far, the vast majority of opportunity zone funds are focused solely on real estate development. The problem with business is that it’s murky. Which ones will qualify

Continue reading »
Puerto Rico

Puerto Rico gets two more opportunity zones

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 Community based on new American Community Survey data (2012-2016).

Continue reading »
President Trump signs opportunity zones executive order

Trump creates opportunity zones council with executive order

Today, President Trump signed an executive order, promoting public commitment to the opportunity zones program enacted last December as part of the Tax Cuts and Jobs Act of 2017. The executive order establishes the White House Opportunity and Revitalization Council, led by HUD Secretary Ben Carson. The council is tasked with streamlining, coordinating, and targeting

Continue reading »
IRS Building

Accountants: Taxpayer uncertainty is hindering investment in opportunity zones

A working group of accountants formed by Novogradac sent a letter to the U.S. Treasury last month, requesting further clarification in the wake of the proposed regulations (IRS REG-115420-18) published in October. In part, the letter states, “Taxpayer uncertainty around these issues is hindering investment in opportunity zones.” Taxpayers must invest capital gains into opportunity

Continue reading »
David Sillaman

David Sillaman: Creating an Opportunity Zone Fund

Today’s guest is opportunity fund consultant David Sillaman, president and fund developer at Eazy Do It Opportunity Funds. Approximately $6.2 trillion in capital gains is eligible for investment in opportunity zone funds, with the potential to create a huge change across America. Some estimates expect $150-$250 billion to flow into these funds between now and

Continue reading »
Tony Nitti

Tony Nitti: Opportunity Zones Tax Benefits and Unintended Consequences

Today’s guest is self-described “codehead” Tony Nitti, real estate tax law expert, CPA, and partner at WithumSmith+Brown. He also serves on the editorial advisory board for The Tax Adviser. And he’s a contributor at Forbes.com, where he recently published a thorough primer on the opportunity zones tax incentive. Click the play button below to listen

Continue reading »