In this NJBIZ article, Sills Cummis’ Ted Zangari and Jaime Reichardt share their insights on the federal Opportunity Zone program.
According to Mr. Zangari, “We sprang into action as soon as the new program was enacted, and again when the zones were officially designated. First, we formed an interdisciplinary practice group comprised of attorneys who specialize in tax, trusts and estates, corporate, fund formation, real estate, redevelopment and securities regulation. We next developed, and continue to add content to, a specialty blog that provides readers with a wealth of information on the OZ program and links to various mapping tools to identify eligible zones."
The article later continues, "There are three 'buckets' of interested parties... 'Investors, fund managers and recipients of Opportunity Zone funds, such as a developer of a real estate project in an OZ or a business moving into an OZ or already located in an OZ and looking to expand,'" according to Mr. Reichardt.