State Treasurer: California Is Open For Business, Will Comply With Opportunity Zone Program
February 7, 2019

State Treasurer: California Is Open
For Business, Will Comply With
Opportunity Zone Program

Proper Hospitality and The Kor Group President Brian De Lowe to discuss development of DTLA and Santa Monica Proper Hotels | Los Angeles Hotel Summit March 14

Newly elected California State Treasurer Fiona Ma is on a mission to support the governor's effort to build more housing in California through the new opportunity zone program.

Since taking office earlier this year, Ma and her staff have been busy on the road across the state, meeting with business leaders at community and professional business forums.

With California Gov. Gavin Newsom stating he wants to build 3.5 million new housing units in the state by 2025, Ma sees the new opportunity zone legislation that allows investors to place projects in low-income areas in exchange for a tax benefit as…

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Developers In Low-Income Areas Hoping To Catch The Attention Of Opportunity Zone Investors

Politicians from both major parties tout the nation's new opportunity zones as tools that will send $100B of investment per year into low-income neighborhoods, fueling new development and business creation.

But as many investors eagerly look into securing the generous capital gains tax breaks offered for investing in these areas, developers already working in low-income neighborhoods worry their projects won't capture the attention of major players.

“Most of the fund managers are not used to doing deals in my community,” Urban Equities founder and CEO Lennox Jackson said.

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