Key Takeaways: Assessing the Election’s Implications for Opportunity Zones
by Erik Hayden, on Oct 28, 2020 9:28:41 AM
With just days to go until Election Day, our recent webinar focused on the future of the Opportunity Zone program. If you missed it, watch the recording of the presentation above.
Hosted by Urban Catalyst Partner and Chief Administrative Officer, Sean Raft, the webinar covered how the OZ program could potentially shift under a Biden vs. a Trump presidency. Sean is also a member of the Novogradac OZ Working Group, which advises the Department of Treasury, IRS and several White House officials responsible for the OZ program.
The bottom line? No matter who wins, Opportunity Zones are here to stay. Here are some key takeaways:
- The Trump administration has hinted it may seek to extend timelines for the existing program under a second term. Without an extension, the OZ initiative expires on Dec. 31, 2026.
- A Biden administration will likely seek increased and more transparent reporting requirements so the public can track Opportunity Zone investments and their impact on the communities they are designed to benefit.
- According to The White House Council of Economic Advisers (CEA), the program will lift a million households out of poverty over the next 10 years.
… and much more!
The good news is that the Opportunity Zone program has enjoyed rare bipartisan support.
Here at Urban Catalyst, we’ve prepared ourselves for potential changes, and we are taking proactive steps to keep our investors up-to-date.
DON’T WAIT to get started with Urban Catalyst; our fund closes on December 30. Let’s get you started.
The statements, views, and opinions expressed herein are those of the individuals making the statements and do not necessarily reflect the official policy or position of Urban Catalyst Manager LLC or any investment sponsored by Urban Catalyst LLC and are provided for informational purposes only and are not intended to be, nor should be construed or used as financial, legal, tax or investment advice, nor should this information be used or considered as an offer to sell or a solicitation of any offer to buy any interest in Urban Catalyst Opportunity Fund I LLC (the “Fund”), an investment sponsored by Urban Catalyst LLC (the “Sponsor”).
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