Recent tax code changes provided for the creation of opportunity zones. These zones are a new community development program designed to encourage long-term investments in distressed urban and rural communities nationwide. The code change establishes a tax incentive for investors who re-invest unrealized capital gains into Opportunity Zone Funds, such as the 3LB Opportunity Zone Fund.
As guidance from the U.S. Treasury Department and IRS are made available, the picture becomes clearer that the program will be one of the most significant of its kind. Our approach is to target real estate within these zones and to initially underwrite them as if no incentives exist. If the asset is worthy of investment without the incentives, it most certainly is with the massive benefits of the program.
Update - March 2020
Treasury and IRS release final guidelines for Opportunity Zones:
Treasury releases second set of OZ Guidance, Commentary from Michael Novogradac below:
Where are the Opportunity Zones?
For a look at the nationwide map of Opportunity Zones, please follow this link: https://www.cims.cdfifund.gov/preparation/?config=config_nmtc.xml
3LB's geographic focus is on Texas. For a map of Opportunity Zones in Texas, please follow this link:
How can I learn more about 3LB's strategy?
3LB is presently seeking multi-family assets located in Texas Opportunity zones or land that could be used in the development of multi-family properties located in Texas Opportunity Zones.
For a link to our Accredited Investor Questionnaire and Certifications, please click here:
For a link to our Confidentiality, Non-Circumvention Agreement, please click here:
For any inquiries pertaining to Opportunity Zone Fund Investment, please email ASmith@3lbequities.com.
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