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In 2017, Congress created the tax incentive program, Opportunity Zones, to spur development in “economically-distressed” areas. The tax benefits are now becoming available and it has a lot of people wondering what opportunities it will actually create. Join us for an information session and discussion about Opportunity Zones led by SBIDC Board Member, Paul Gevertzman, of Anchin, Block & Anchin. Come with question and get a better understanding of this tax incentive. Topics to discuss include (but are not limited to):

 

–          What are Opportunity Zones and where are they in New York?

–          How will existing community assets, needs and priorities be taken into account by investors?

–          How can a community effectively measure and manage for impact and outcomes?

–          How will businesses/lease holders in Opportunity Zones be affected?

–          Transfer of ownership/sales of properties in Opportunity Zones

–          Can investment of capital gains (from any source) be rolled into a Qualified Opportunity Fund?

–          What are qualifying Opportunity Zone businesses?

 

Other guest speakers will include representatives from National Grid to discuss  its energy efficiency programs and incentives and the Chase Business Banking team to discuss available financing products for reals estate and equipment purchase, lease holder improvements, working capital and more.

 

5:00pm – Welcome + Networking

5:15pm – National Grid – Energy Efficiency Incentives + Economic Development Programs for Businesses

5:30pm – Chase Business Banking – Financing Options for Businesses

5:45 – Opportunity Zone Discussion

 

The team from Realty Collective will be on hand to provide tours of available properties in Red Hook, a designated Opportunity Zone.

RSVP here.