Category News

Ohio Bill Would Boost OZ Tax Incentive

A bill passed by the Ohio Senate would increase the state’s enhancement of Opportunity Zone tax incentives by doubling the amount of money available as tax credits in fiscal 2022 and 2023. In addition to the federal tax incentives associated…

OZ Funds Approach $25 Billion Milestone

According to Novogradac, Qualified Opportunity Funds had raised $24.4 billion in equity through the end of 2021, with $6.9 billion of that total coming in the second half of last year. Novogradac tracks a total of 1,342 QOFs; nearly 1,000…

$3.6 Million Milwaukee OZ Project Underway

New Land Enterprises has raised $3.6 million in Opportunity Zone equity for the Nova apartment development in the East Town neighborhood of Milwaukee. The nine-story building will have more than 250 apartments and amenities that include a fitness center, outdoor…

Senate Finance Chair Queries Opportunity Zone Funds

Ron Wyden

Senator Ron Wyden (D-OR) has sent letters of inquiry to seven Qualified Opportunity Funds seeking information about projects in which the QOFs have invested and details on temporary and permanent jobs created. Recipients of letters from Sen. Wyden included SkyBridge…

Griffin Capital Surpasses $1 Billion In Oz Equity

Griffin Capital announced that it has closed its second QOF after raising $585 million in equity. Griffin’s first OZ fund closed in September 202 after raising $460 million. Griffin’s second fund will be used to develop 12 multifamily communities in…