New Federal Tax Program for Depressed Neighborhoods Stirs Hopes and Concerns
“Days from now the Internal Revenue Service is expected to release a new set of regulations on Opportunity Zones, a new federal program that provides tax benefits for investments in economically depressed communities. The Opportunity Zone tax program, shoehorned among the thousand pages of the Trump administration’s 2017 Tax Plan, has left New York housing insiders with little knowledge on what impact the city could see in neighborhoods presently facing development changes. Meanwhile, area investors are showing interest.”