With bipartisan support in place since its inception, the federal Opportunity Zone program frequently touted by the Trump administration appears likely to last another presidential term, although perhaps in a modified form.
Opportunity zones have been a particularly divisive issue in cities like Los Angeles, where CIM Group, a prolific opportunity zone investor, backed out of a deal to buy Baldwin Hills Crenshaw Mall after backlash from community groups over its lack of plans for services for existing residents.
...moreRSK: A good idea with too many bad loopholes...it totally needs reform.
Ken Notes: I have done two radio shows, read dozens of articles, and written an article on OZ`s and it is clear the winners are lawyers and accountants and very wealthy individuals with large cap gains issues. It has not provided as much stimulus or investment as projected. I have also had the opportunity to ask two elected officials who voted for this to explain it, and off the record they were not even close to understanding the details. I can not wait for the presidential debates....
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- - Volume: 8 - WEEK: 33 Date: 8/11/2020 8:20:05 AM -