Our firm’s attorneys counsel investors, fund managers and Opportunity Zone Businesses to realize the full benefits of the Opportunity Zones program signed into law in December 2017.
The Opportunity Zone Program was created to provide incentives for investment in low income communities. An Opportunity Zone is a designated geographic area, in which individuals can gain favorable tax treatment on their capital gains, by investing funds (through a privately-created Opportunity Fund) into economic activities in the area. The Governor of each state is able to nominate up to 25 percent of its low-income census tracts to be designated as Opportunity Zones.
Opportunity Zones can be combined with other incentives for investment in distressed communities. These incentives include programs such as the New Markets Tax Credit, Low-Income Housing Tax Credit and historic rehabilitation tax credit-programs with which our attorneys have extensive experience and familiarity.