Opportunity Zones 2018: Year in Review
Since June 2018, when we formed one of the first multidisciplinary legal teams focused on helping clients realize the benefits of the recent Opportunity Zone legislation, we have been extremely busy. Click the links below to see what we've been doing.
Client Alert: On October 19, 2018, the Treasury Department issued highly-anticipated proposed regulations related to the U.S. Tax Cut and Jobs Act of 2017's Opportunity Zones Program (the "Proposed Regulations"). Taxpayers and investors have been anxiously awaiting guidance from the Treasury Department before funneling millions of dollars into the previously designated Opportunity Zones. The Proposed Regulations clarify certain fundamental aspects of the Opportunity Zone Program and address specific complex issues. Read the full Client Alert here.
Seen & Heard:
- Understanding Rules & Regulations for Opportunity Funds (Boston, December 18, 2018)
- How to Set up a Qualified Opportunity Zone Business - Before Year End! (Boston, December 5, 2018)
- Qualified Opportunity Funds (Webinar, December 5, 2018)
- Securing Massachusetts and Local Tax Incentives to Maximize Opportunity Zone Benefits for Developers and Investors (Boston, November 29, 2018)
- The Land of OZ Explained — Understanding the New Opportunity Zone Proposed Regulations (Boston, November 1, 2018)
- Seize the Opportunity (Zone): Latest Tax Strategies for Owners of Art and Other High-Value Assets (Boston, October 24, 2018)
- Opportunity Zones: A Remarkable Opportunity (Boston, June 12, 2018)
- Council of Development Finance Agencies (Florida, December 2018)
- Greater Boston Real Estate Board (Boston, November 13, 2018)
- Commercial Real Estate Finance Council (CREFC) (Boston, November 7, 2018)
- Massachusetts Society of CPAs (Boston, June 2018)
- National Housing & Rehabilitation Association (Boston Region, July 2018)
- Novogradac National Opportunity Zone Conference (New Orleans, October 2018)
- Alternative & Direct Investment Securities Association (ADISA) Annual Conference, panelist on "Opportunity Zones - the First Wave" (Las Vegas, October 2018)
- Private label events for national lending and private equity platforms:
- The Land of OZ Explained — Understanding the New Opportunity Zone Proposed Regulations (Boston, November 2018 and New York, November 2018)
- CRE Finance Hot Topics (November 2018)
- Appreciated Assets, Opportunity Zones, and You! (Boston, October 2018)
- Opportunity Zones: A Remarkable Opportunity (Boston, June & September 2018; New York, July 2018)
- Operating a Real Estate Business After the 2017 Tax Act (Boston, May 2018)
- Tax Mania: 2017 Tax Act (Boston, May 2018)
- Sullivan & Worcester Tax Briefings (Boston: June & October 2018; New York: July 2018; Washington DC: TBD)
- Authored and quoted in multiple articles, including
- Gemini and Private Equity/Real Estate Experts Deliver Opportunity Zone Funds Update, Gemini, 12/13/18
- Trump, Kushner, LeFrak could potentially benefit from federal 'opportunity zones', NBC News, 12/12/18
- Recent Opportunity Zone Guidance Gives Developers a Shot In the Arm, S&W Opportunity Zones Alert, 11/9/18
- IRS Provides Guidance on Opportunity Zones, Affordable Housing Finance, 10/23/18
- Regulators release first guidelines for Opportunity Zones, Real Estate Weekly, 10/23/18
- An Increasing Number of New Real Estate Funds Target Opportunity Zones, National Real Estate Investor, 10/10/18
- The Land of OZ: Measuring Results, Tax Credit Advisor, 10/2/18
- Fund managers race to tap into opportunity zone legislation, Real Estate Finance & Investment, 8/20/18
- Will real estate developers seize on "Opportunity Zones" tax incentive?, The Real Deal, 7/16/18
- State carves New York into investment opportunity zones, Real Estate Weekly, 5/9/18
- Participated as a member in national thought leadership initiatives regarding the interpretation and implementation of the Opportunity Zone legislation, including the Novogradac Ozone Resource Center and the Economic Innovation Group;
- Participated as a member in discussions held by relevant national industry groups, including the Real Estate Roundtable, to help shape proposed guidance on the Opportunity Zone legislation; and
- Wrote and contributed to various articles describing Opportunity Zones, including in the following publications: Real Estate Finance and Investment; Real Assets Adviser; Tax Credit Adviser; Sullivan & Worcester Client Advisories (April , September and October 2018)
- Publish frequent blog posts on our InfO-Zone blog, offering insight and analysis on Opportunity Zones from our our multi-disciplinary team of lawyers from our Tax, Real Estate, Affordable Housing and Corporate practice groups
Contacts:
Benjamin A. Armour
One Post Office Square
Boston, MA 02109
TEL: (617) 338-2423
barmour@sandw.com
John G. Balboni
One Post Office Square
Boston, MA 02109
TEL: (617) 338-2438
jbalboni@sandw.com
Joseph B. Darby III
One Post Office Square
Boston, MA 02109
TEL: (617) 338-2985
jbdarby@sandw.com
John W. Gahan III
One Post Office Square
Boston, MA 02109
TEL: (617) 338-2472
jgahan@sandw.com