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South Florida Opportunity Zones Regulations Update

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South Florida Opportunity Zones Regulations Update

Unlocking Potential for Investors & Communities

THIS EVENT ENDED ON June 20th, 2019

What You'll Learn

1) Why are developers looking to South Florida and neighborhoods like Sistrunk for QOZ projects? Why are they betting long-term on these emerging neighborhoods? 

2) What do the long-awaited IRS regulations that were released on April 17th mean for investment in Opportunity Zones in terms of...

- Multi-asset funds

- Refinancing

- Properties outside the opportunity zone that are contiguous with real property in the zone

- Flexibility in phasing with respect to working capital requirements

- Starting and operating a business in an opportunity zone

3) What opportunity zones in South Florida are the best investments and how do those neighborhoods stand to benefit from the additional economic revitalization? What deals do Driftwoods, Somera Road, BH3, Affiliated Development and Merrimac Ventures have in the pipeline? 

4) From an accounting perspective, what kind of partnerships are most optimal for investors looking to deploy capital into an Opportunity Fund? How are partners structuring JVs when parties have different time horizons? 

5) How will HUD Secretary Carson's preference point system impact affordable housing? 

Speakers

  • More Speakers to be Announced

PHOTOS

Agenda

Time Activity
8:00 AM - 9:00 AM
Coffee, Breakfast & Networking
9:00 AM - 9:45 AM
IRS Regulations Update: Everything you Need to Know
9:45 AM - 10:30 AM
Location, Location, Location: Finding the Best Returns in South Florida
10:30 AM - 11:15 AM
More Networking!
Coffee, Breakfast & Networking
8:00 AM - 9:00 AM
IRS Regulations Update: Everything you Need to Know
9:00 AM - 9:45 AM
Location, Location, Location: Finding the Best Returns in South Florida
9:45 AM - 10:30 AM
More Networking!
10:30 AM - 11:15 AM

Venue/Parking

Sistrunk Market & Brewery
115 NW 6th Street
Fort Lauderdale, FL 33311

Floor: First Level

Parking Information: Free Parking Onsite

Get Directions

Why This Matters

Development is thriving all over South Florida! From luxury apartments to towering office buildings, all of these projects are being delivered at a rapid rate. With all of this new development happening, an amazing opportunity can make building in specific neighborhoods even more rewarding.

Our Opportunity Zone event will convene investors, government leaders, financial experts, real estate owners and developers and economic development leaders to explore and accelerate the implementation of best practices and strategies to unlock economic potential of this new law.

The Opportunity Zones tax incentive was included in the Tax Cuts and Jobs Act that President Trump signed into law in December 2017. This law provides tax benefits to investors that place unrealized capital gains into Qualified Opportunity Funds (QOF), which then invest in Opportunity Zones.

On April 17th, the IRS released new regulations that clarify among other things, that an investor can dispense individual assets within a QOF and still see discounts on their capital gains tax. That provision unlocks billions of dollars of capital that was waiting for an indication that multi-asset funds would not create taxable events every time money shifted between assets. 

Other updates include:

- Treasury will allow businesses to qualify if at least 50% of the hours employees work are within the qualified opportunity zone

- No penalty if an investor dies and passes an interest in an OZ Fund to their heirs

- 180 day rollover for capital gains from real property begins on the last day of tax year 

- Unimproved land does not need to be substantially improved

- Leases are ok, but triple net leases are not  

Get ready to learn about this great new law, how to capitalize on it, what updates the IRS and Florida legislature has provided, as well as risks to consider before investing. Hear from some of the biggest names in CRE who are currently developing in Opportunity Zones, and bring plenty of business cards!

For questions, recommendations, comments, or press inquiries please email Katya, our Southeast event producer, katya.demina@bisnow.com.