Opportunity Zone in the NEK
The Tax Cuts and Jobs Act of 2017 provided a new tax incentive aimed at increasing private investment in selected census tracts. Investors in these zones will receive preferential tax treatment when they invest in a newly created “Opportunity Fund.”
Vermont received approval from the U.S. Treasury for 25 Opportunity Zones in 17 communities. Three municipalities in NVDA’s region were among those with designated Opportunity Zones: St. Johnsbury, Lyndon, and Newport City. The locations of the Opportunity Zones in the NVDA region are shown on the map.
On March 28th, 2019 NVDA hosted an information session on Opportunity Zones in the Northeast Kingdom. Shannon Lenzini, attorney with Downs Rachlin Martin (DRM), and Katie Stuart-Buckley and Skye Morse of M&S Development provided an overview of the Opportunity Zone program and how it can help facilitate transformative development projects.
The agenda, PowerPoint presentations, and audio from the March 28th meeting are available below, as well as information on the presenters.Agenda | Presenters: Katie Stuart-Buckley, Shannon Lenzini & Skye H. Morse
Audio (mp3 format) | PowerPoint Presentations: Finding Opportunities in Opportunity Zones - Opportunity Funds in Action
Other Materials: Opportunity Funds: A Primer | Affordable Housing Developers
More information on Opportunity Zones can be found on the Vermont Agency of Commerce and Community Development webpage here: https://accd.vermont.gov/OpportunityZones