Affordable Housing Blog
Share Print View
Opportunity Zones: New Community Development Program Hidden in Tax Cuts and Jobs Act

Buried within the Tax Cuts and Jobs Act is a provision creating “Opportunity Zones.” While this provision has not been highly promoted, the possibilities it provides should not be overlooked. Municipalities apply to be designated as Opportunity Zones where investors are given tax incentives for re-investing their unrealized capital gains into Opportunity Funds dedicated to investing into the Opportunity Zones. These Opportunity Zones have the potential to revitalize towns and neighborhoods throughout the country while allowing for investors to avoid capital gains taxes as described in a recent New York Times piece.


The deadline to apply for designation of an Opportunity Zone is fast approaching. In Massachusetts Governor Baker’s Office is currently receiving applications. Applications need to be in by March 22 in order for municipalities to be considered. The list of eligible municipalities can be found here. The application for Massachusetts is not lengthy and eligible municipalities can obtain more information about the application process at this link.


There are no comments yet for this post.

Privacy Policy | Terms of Use and Conditions | Statement of Client Rights
This website contains attorney advertising. Prior results do not guarantee a similar outcome. © 2018 Nixon Peabody LLP
expand 1. HUD / RD

AFHS alerts
Elderly Housing -- Section 202
FHA Insurance and Risk Sharing
Preservation - HUD OAHP and Mark to Market
Section 8 Renewal Contracts
Utility Allowance
expand 2. Local & Regional

California and West Coast
Housing Production Trust Fund
New York and Northeast
expand 3. Energy Tax Credits

expand 4. Historic Rehabilitation Tax Credits

Historic Rehabilitation Tax Credits
expand 5. Low-Income Housing Tax Credits

expand 6. New Markets Tax Credits

New Markets Tax Credits
expand 7. Real Estate

expand 8. Specialty

Freddie Mac
LGBT Housing
Tax-exempt Entities
expand 9. Video