Contact Us Now

Cincinnati Office PHONE: 513-412-3481
TOLL FREE: 800-427-7212
FAX: 513-412-3482
Providence Office TOLL FREE: 877-395-1031




May 6, 2020

Opportunity Zone Progress Slows in COVID-19 Crisis


Commercial Property Executive
By Paul Fiorilla

This was slated to be a critical year for Opportunity Zones, the feature of the 2017 Tax Cuts and Jobs Act that provides a tax break for property investment in low-income areas. The Treasury Department last year finally clarified some regulations that the original legislation left unclear at a time when demand for apartments and other commercial property was still riding high.

Fate, however, had other ideas. When COVID-19 hit the U.S. with full force in March, investors hit the pause button on capital allocations, and the outlook for commercial development demand abruptly turned cloudy. “Everybody's assessing,” said Michael Novogradac, managing partner of a San Francisco-based accounting firm that bears his name. Read more.

Back to Top