Opportunity Zones

The Opportunity Zone, which consists of two census tracts, is a portion of the City where new investments, under certain conditions, may be eligible for preferential tax treatment. The program, which is the result of legislation passed by Congress in December 2017, is designed to incentivize patient capital investments in the area, thereby encouraging revitalization. The underlying incentives relate to the tax treatment of capital gains, and all are tied to the longevity of an investor’s stake in a qualified Opportunity Fund, providing the most upside to those who hold their investment for 10 years or more. We only determined the census tracks where this is applicable and do not manage the details of this so we encourage those interested to speak with their accountant.