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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Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state.
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