Meet Steve Schneider, Retired Silicon Valley CEO and Angel Investor.
Q: What led you to invest in a Qualified Opportunity Zone Fund (“QOZF”)?
A: I had been looking for a safe way to invest in an Opportunity Zone in order to take advantage of the huge tax savings while minimizing my risk. The six-year deferral of capital gains taxes and 10% reduction in 2027 is nice. But the real kicker is in 10 years when I won’t have to pay capital gains on profits from my investment in the QOZF.
Q: What attracted you to Urban Catalyst in particular?
A: When I met with Erik Hayden (Founder) and Morgan Mackles (SVP, Investor Relations), I was impressed with their vision and the depth of their experience as well as Erik and Josh Burroughs’ (COO) track record in developing properties in San Jose. I also was struck by their list of high-quality strategic advisors and the operational team that can turn their vision into a winning investment for me.
Q: What was particularly appealing about the Urban Catalyst Opportunity Zone?
A: I was impressed with the diversification and location of the projects. Silicon Valley is expanding into downtown San Jose with Google, Zoom and others, and the (forthcoming) transit hub. It’s a good market to invest in.
Q: How would you describe your overall experience?
A: Post-investment, they have been very attentive and supportive. They have also been transparent and easy to communicate with throughout the process.
Q: We understand you also have a special community connection…
A: Yes. This is a great opportunity for me personally since I’ve had a long-standing interest in improving San Jose. Before my business success, I was a community organizer there in the early ’80s, dedicated to trying to improve the quality of life for residents. It’s great to see that I can contribute further to the revitalization of downtown San Jose.
“I encourage others with capital gains to invest in the Urban Catalyst vehicle: the people, location, specific development projects, and investment structure make this as winning a combination as you will find.” - Steve Schneider
P.S. I have not received any remuneration or favored status as a result of providing my input. I am generally excited about the opportunity and am happy to field any questions readers may have.