Developers Create Fund to Invest in Opportunity Zones
October 29, 2018
Finance & Commerce spoke to Ballard Spahr’s April Hamlin for an article on a new fund that aims to take advantage of last year's federal tax reform to put $100 million or more into real estate development in Minnesota's most disadvantaged communities.
"To take advantage of an opportunity zone, investors must make business or development investments through a qualified investment fund," Ms. Hamlin said. "If you hold your interest in the fund for 10 years, what happens is, if you sell in year 11 or later, the gain you would otherwise realize on that investment—that is basically eliminated from tax [liability]."
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