Written by Lennox Jackson
Source: Baker Tilly
Taxpayers with Gain
More IRS rules hit the street recently, triggering a flurry of activity among investors, developers, lawyers, tax accountants, government officials, and others. Given these rules, there’s been a collective exhale by a sea of people who have been tracking this like hawks over the last several months. Based on early signs, taxpayers with gain now feel more comfortable and are diving in by investing in Qualified Opportunity Zone projects.
Now that people have a fair handle on the quantitative details around the OZ program, attention has shifted, and some basic qualitative questions are being tossed around by taxpayers with gain and their investment managers:
After all, deal making and project procurement in low-income/underresourced markets are a bit different from what happens in other markets. Navigating the political landscape, identifying key stakeholders, and overcoming various challenges unique to doing business in these markets can test even the most experienced real estate professional.
Now that people have a fair handle on the quantitative details around the OZ program, attention has shifted, and some basic qualitative questions are being tossed around by taxpayers with gain and their investment managers:
- Where are the boots-on-the-ground in the OZ census tracts we can do business with?
- Who has the experience required to execute on deals?
- Who can we trust?
After all, deal making and project procurement in low-income/underresourced markets are a bit different from what happens in other markets. Navigating the political landscape, identifying key stakeholders, and overcoming various challenges unique to doing business in these markets can test even the most experienced real estate professional.
OZ Census Tracts: In Our Wheelhouse
As illustrated below in the map, Urban Equities, Inc. has built its business for 25 years by developing projects in what are now being termed "opportunity zones." We have structured deals, assembled teams, and executed quality construction work, all of which have resulted in rebuilt lives with the creation of jobs, along with the return of revitalized communities people are proud to call home.
We are ready to team with taxpayers with gain and their investment fund managers. We look forward to doing more of what we’ve been doing for over 25 years.
We are ready to team with taxpayers with gain and their investment fund managers. We look forward to doing more of what we’ve been doing for over 25 years.
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Lennox Jackson is Founder/CEO of Urban Equities, Inc. and a contributing editor for the Bulletin Board. During his time away from work, Lennox enjoys quick drives to Lake Geneva, Wisconsin, or boarding an airplane to some destination far from Chicago. In addition, he practices yoga and likes attending panel discussions, watching movies, dancing, and finding the right spot for people-watching on a nice-weather day.
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