How can I make a QOZ investment in a brownfield site?

Answers

• 

  Erich Yost

  U.S. Department of Housing and Urban Development

  April 06, 2021

  Here is some information from the U.S. Environmental Protection Agency about Brownfields and Opportunity Zones: The Agency OZ Website: https://www.epa.gov/opportunity-zones Webpage: Superfund Redevelopment Using Opportunity Zone Tax Incentive: https://www.epa.gov/superfund-redevelopment-initiative/superfund-redevelopment-using-opportunity-zone-tax-incentives Webpage: Leveraging Opportunity Zones for Community Revitalization: https://www.epa.gov/smartgrowth/leveraging-opportunity-zones-community-revitalization Mapping Tool: Opportunity Zone (OZ) Mapper: https://epa.maps.arcgis.com/apps/View/index.html?appid=5d53ea694b7e4711a253cca53efef852 Fact Sheet – EPA: IRS Regulations for Opportunity Zones & Brownfield Redevelopment: https://www.epa.gov/sites/production/files/2020-04/documents/opportunity_zones_and_brownfields_redevelopment.pdf Fact Sheet – EPA: Superfund Site Redevelopment, Using Opportunity Zone Tax Incentives https://semspub.epa.gov/work/HQ/100002574.pdf

• 

  David LeGrand

  LeGrand Legal

  April 06, 2021

  An Opportunity Zone is an Opportunity Zone, Brownfield or not.

• 

  Maria De Los Angeles Rivera

  Kevane Grant Thornton

  April 12, 2021

  Special attention must be given to original use/vacancy rules when investing in property already used in a zone. Also, the regulations describe the treatment for remediation and other set up costs.

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