Opportunity Zones Update

Treasury Releases Proposed Guidance on Opportunity Zones

On Friday, October 19th, the Treasury Department released proposed guidance to clarify a number of questions that had been raised regarding Opportunity Zones. While not exhaustive, the guidance did answer a number of critical questions for affordable housing, including the treatment of land for the substantial rehab test and the treatment of working capital for a construction project.

CCC and others are reviewing the details of the guidance, but in the meantime Mike Novogradac, of Novogradac & Company, prepared the following summary that we wanted to share:

https://www.novoco.com/notes-from-novogradac/treasury-guidance-provides-solid-first-step-opportunity-zones-investments

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