Opportunity Zones News

David Dragoo and John Renfrow

David Dragoo & John Renfrow: Colorado Outdoors OZ Project (Episode #7)

What does an opportunity zone city revitalization project really look like? And how can public-private partnerships help to accelerate a community’s renewal? The Colorado Outdoors project in Montrose County offers an excellent case study to answer these questions. Home to 20,000 people, Montrose is a rural community located in an opportunity zone on Colorado’s western

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Allen Alley

Allen Alley: Renewable Energy Development in Opportunity Zones (Episode #6)

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

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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,

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Greg Genovese

Greg Genovese: Project-Driven OZ Funds (Episode #5)

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,

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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).

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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

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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

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