Opportunity Zones News

Jay Darby

A Graduate Tax Course in Opportunity Zones, with Jay Darby

What are students learning in the nation’s first LLM-level tax course on Opportunity Zones? Joseph “Jay” Darby is a partner in Sullivan & Worcester’s tax group in Boston and has been a member of the adjunct faculty at Boston University School of Law since 2003. This semester, he is teaching an LLM course at BU Law titled, “No Gain No Pain? Opportunity Zones, Like Kind Exchanges and QSBS Strategies.” Click the play button below to listen to my conversation with Jay. Note: This podcast interview was recorded on December 11, 2019, more than a week before the final regulations on

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Forbes OZ 20 Grand Prize Winners

Erie, OPAL, SoLa, Four Points Win Forbes OZ 20 Grand Prizes

The Opportunity Zone Catalyst Grand Prize Winners of the Forbes OZ 20 were announced earlier today at Sorenson Impact Center’s Winter Innovation Summit in Salt Lake City, UT. The City of Erie and Opportunity Alabama emerged as the top two Community Organizations. The SoLa Impact Fund and Four Points Funding were named the top two Opportunity Zone Funds. Last year, Forbes partnered with the Sorenson Impact Foundation to launch the Forbes OZ 20 list of the top Opportunity Zone catalysts. The purpose of the list is to showcase how investors — large and small, rural and urban — are pioneering

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Jim Sorenson and Patrick McKenna

Investing for Impact in Opportunity Zones, with Jim Sorenson & Patrick McKenna

Can Catalyst Opportunity Funds serve as both a counterexample to the wave of negative OZ publicity and a model for OZ fund investing? Impact investing pioneer Jim Sorenson and tech entrepreneur Patrick McKenna are co-founders of Catalyst. Jim is also founder of the Sorenson Impact Foundation, and funding partner at the University of Utah’s Sorenson Impact Center. Click the play button below to listen to my conversation with Jim and Patrick. Episode Highlights How Catalyst uses a proprietary Impact Scorecard to quantify the needs of a community and the reasons behind a community’s distress. The institutional geographic divide, and how

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Zale Tabakman

Indoor Vertical Farming in Opportunity Zones, with Zale Tabakman

Why might indoor vertical farming be ideally suited for Opportunity Zones? Zale Tabakman is founder and president of Baltimore-based Local Grown Salads, an indoor vertical farming company that has its own Opportunity Zone fund. Click the play button below to listen to my conversation with Zale. Episode Highlights The benefits of locally grown indoor vertical farming versus traditional farming. Why Local Grown Salads believes Baltimore is a perfect starting place for their business. How indoor vertical farming is ideally suited for Opportunity Zone investment. What a typical indoor vertical farming operation looks like. Capital costs and expected returns for an

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Daniel Kowalski

The OZ Regulatory Process: Behind the Scenes at Treasury, with Dan Kowalski

What are the five most impactful changes in the final IRS regulations on Opportunity Zones? And what’s the true story behind the Opportunity Zone designation in Storey County, NV? Daniel Kowalski is counselor to Treasury Secretary Steven Mnuchin and led the Treasury Department’s efforts in issuing regulations on Qualified Opportunity Funds. Click the play button below to listen to my conversation with Dan. Episode Highlights Why the regulatory process took so long. The five most impactful changes made between the proposed regulations and the final rules that will make the incentive more usable to both communities and investors. Why there

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Steve Christiano

How Foreign Taxpayers Can Invest in Opportunity Zones, with Steve Christiano

What types of foreign investors may be ideal candidates for Opportunity Zone investing? And is there an opportunity for OZ fund sponsors to raise capital overseas? Stephen Christiano is an associate tax director of Frank Hirth’s business tax group, specializing in U.S. business taxation and Opportunity Zones. Click the play button below to listen to my conversation with Steve. Note: This podcast interview was recorded in November 2019, approximately one month before the final regulations on Qualified Opportunity Funds were issued by the IRS. Episode Highlights Opportunities for fund sponsors to raise OZ capital outside the U.S. Three types of

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Ruben Alonso & Emily Lecuyer

How CDFIs Can Help Raise Opportunity Zone Capital, with Equity Squared

What is a Community Development Financial Institution, or CDFI? And how can Opportunity Zone fund sponsors, real estate developers, and QOZB business owners leverage their local CDFIs as a capital raising resource? Ruben Alonso is president of AltCap, a CDFI headquartered in Kansas City. Emily Lecuyer is managing director of Equity², an affiliate of AltCap. Click the play button below to listen to my conversation with Ruben and Emily. Episode Highlights What a Community Development Financial Institution does. How Opportunity Zones are a great tool to opening the door to impact investors. How the track record of CDFIs can help

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Tony Nitti

Takeaways from IRS Final Regulations on Opportunity Zones, with Tony Nitti

Final regulations on Opportunity Zones have been issued by the IRS. What are the most meaningful changes and additions to be aware of? Tony Nitti is an Aspen-based real estate tax law expert, CPA, and tax services partner at RubinBrown. He serves on the editorial advisory board for The Tax Adviser. He’s also a regular contributor at Forbes.com, where his latest article breaks down Opportunity Zones law and regulations. Click the play button below to listen to my conversation with Tony. Episode Highlights Did the IRS get it right? Why investor appetite in Opportunity Zones has been lacking so far,

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Jack Sullivan

How Opportunity Zones Can Help Solve the Climate Crisis, with Jack Sullivan

Does the climate change mitigation industry pose a huge OZ business opportunity? Jack Sullivan is founder and CEO of RedCarbon, a Qualified Opportunity Zone Business that focuses on carbon sequestration technologies and processes. Click the play button below to listen to my conversation with Jack. Episode Highlights Marrying the Opportunity Zone law with one of the greatest challenges that humanity has ever faced. A brief overview of the climate crisis, and a characterization of the problem that it poses. How the climate change mitigation industry could pose a huge business opportunity, regardless of your politics. Why the longer term investment

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IRS Building

IRS Issues Final Regulations on Opportunity Zones

The long wait is over. IRS has issued final regulations on Qualified Opportunity Funds, nearly two years after the Opportunity Zone initiative was enacted into law as part of the 2017 Tax Cuts & Jobs Act. Click here to read the complete draft of the final regulations. The final regulations are a modification and merger of the first and second tranches of regulatory guidance and provide additional clarification on topics that remained unresolved after the first two sets of proposed regulation. In total, the notice is 544 pages in length. IRS completed the final regulations and submitted them for review

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