Nov 28

Freshman Rep. Rashida Tlaib has introduced legislation to remove opportunity zones from the U.S. tax code.

Source: Congresswoman Wants to End Opportunity Zone Program | ThinkAdvisor

Nov 23

Now, a home buyer who purchases a single-family fixer-upper in an Opportunity Zone can tack up to $50,000 in rehabilitation costs onto the mortgage to purchase the property using an FHA-insured 203(K) mortgage program. Previously, the limit was $35,000.This new increase also can be used by a homeowner who wants to refinance a mortgage to fix up their home.

Source: HUD Secretary Carson visits Bristol Opportunity Zone – News – The Intelligencer – Doylestown, PA

Oct 29

The liberal Times likely relished tying Trump’s policies to Michael Milken. But O Zones represent poor policy from a libertarian perspective as well. The 8,700 zones divide the nation between winner and loser communities. They replace equal justice under the law with differential treatment based on political pull. The main winners are likely landowners within the zones, not poor households.

Source: More Opportunity Zone Cronyism | Cato @ Liberty

Oct 27

Tax breaks for helping poor communities aren’t new. But opportunity zones differ from programs like the low-income housing tax credit and others, in that there aren’t any strings attached: Backers of opportunity zone projects don’t need to create jobs or report on their progress. They’ll receive the tax credit, no matter how they deploy their money in such zones — and no one is tracking how they deploy their money.

Source: Hoping to buck the ‘tax scam’ label | Business | lmtribune.com

Oct 26

Count Dan Gilbert, the chairman of Quicken Loans and the owner of the Cleveland Cavaliers, among those called out. Investigative news site ProPublica reported Thursday that the multibillionare could benefit from wealthier parts of Detroit being named opportunity zones and may have used his influence to steer the process. Gilbert’s company responded with its own report, lambasting the news outlet, and a Quicken executive told Forbes the company had “zero influence.”

Source: After Billionaire Gilbert Criticized For Opportunity Zones, Company Blasts Back

Oct 24

Initial investment in OZs was somewhat tepid, likely due in part to perceived ambiguity in the regulations. Since the initial launch, additional guidelines have been released to better define the program. And now, potential OZ investors have a new tool intended to further clarify the geographic areas and regulations associated with OZs: the www.OpportunityZones.gov website. Launched by the White House Opportunity and Revitalization Council, the OZ website provides a single, organized source of information r

Source: The Great and Powerful (Tax Benefits of) OZ: Opportunity Zone Information Now Available in a Nationwide Website | Womble Bond Dickinson – JDSupra

Oct 21

Unsurprisingly, these big incentives have sparked a great deal of interest from seasoned and novice real estate investors alike. But, in their race for riches, investors must not lose track of the real purpose of opportunity zones: revitalizing communities through the creation of social and economic opportunity.

Source: Council Post: The Revitalization Of Opportunity Zones

Oct 02

But there’s also another question worth asking: Even if the Opportunity Zone were driving actual investment in the neighborhood, would that investment help the people at whom it’s ostensibly aimed? Like much of D.C., Edgewood is gentrifying rapidly; it’s a historically black neighborhood with more and more white people (myself included) moving in and driving up real estate prices, as it’s one of the few pockets of the city where there is any chance of a young professional being able to purchase a house some

Source: My Neighborhood Shows How the ‘Opportunity Zone’ Tax Program Just Helps the Rich – Talk Poverty

Sep 28

The New York Times article made it more difficult for those who are getting communities engaged for the first time in decades around Opportunity Zones. The original title of this story was going to be “Why The New York Times Is Wrong On Opportunity Zones.” However, what became more compelling than an attention-grabbing title was to provide exposure and instruction over time on how to do Opportunity Zones right.

Source: How To Do Opportunity Zones Right: Tell The Whole Truth

Sep 27

After reviewing the latest guidance issued on the Opportunity Zone program, it’s clear that the IRS is taking serious steps to help provide the clarity the investment community has been seeking.

Source: Exploring Opportunity Zones: Part II

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