Business Services

Opportunity Zone Warehouse

Welcome to the Opportunity Zone Warehouse.

The Opportunity Zone Program, enacted as part of the 2017 Tax Cut and Jobs Act, is a new federal economic development tool low income communities across the country can use to initiate economic and social growth. The heart of the program is uniting private capital, in the form of unrealized capital gains, with urban and rural communities that have great, untapped potential, but have historically lacked the resources to bring that potential to light. Through this new program, specifically identified communities in all 50 states, whether they be located in the heart of Appalachia or the center of Chicago, whether they be in the industrial communities of Ohio or in the West End of Louisville, have a chance to blossom and develop into strong centers of commerce and culture.

Stites & Harbison is dedicated to community development and capital investment. We designed this Opportunity Zone Warehouse as a way of facilitating Opportunity Zone transactions, by linking Projects, Qualified Opportunity Funds, and Investors with one another, and which allows the parties to find the best fit for their particular situation. By bringing others together, we envision this program producing great results and hope that this Warehouse is the conduit for those results. Because, as we all know, in order to produce greatness, sometimes all you need is the right opportunity.

To receive articles and alerts regarding Opportunity Zones, please email Kim Schmittel.

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Client Alerts

Congress Passes Extension for New Markets Tax Credits Program, Increases Allocation by $1.5 Billion

When some people hear the phrase New Markets Tax Credits, they might think of an obscure tax incentive. However, other people, those who deal with the program or have been directly impacted by it, think of something completely different. These individuals think of a hydroelectric generating facility found on the Kentucky River, a new health and science building at a small college in Berea that offers students a debt-free education, a brand new state-of-the-art YMCA in West Louisville that offers increased community services to society’s most vulnerable, or a Winchester facility that manufactures bio-degradable plastic items while employing those desperately in need.

by James C. Seiffert and Jameson M. Seiffert February 20, 2020
Client Alerts

IRS Finalizes Opportunity Zones Regulations

On December 19, 2019, nearly two years to the day since the enactment of the Opportunity Zones legislation (Pub. L 115-97), the U.S. Treasury Department and Internal Revenue Service issued 544 pages of anticipated final regulations on the Opportunity Zones program.

by James C. Seiffert and Jameson M. Seiffert February 03, 2020
Client Alerts

Time to Consider Investments in Operating Businesses in Opportunity Zones

Opportunity Zones are depicted as transformative tools created to stimulate employment and achieve economic growth in distressed low-income communities. Like a public-private partnership, eligible taxpayers are entitled to significant tax incentives in exchange for investing unrealized capital gains in Opportunity Zones.

by James C. Seiffert and Jameson M. Seiffert November 25, 2019
Events

Kentucky Tax Conference

Date: 11/12/19 - 11/13/19
Time: 8:00 a.m. - 4:30 p.m.

Embassy Suites by Hilton Lexington/UK Coldstream, 1801 Newtown Pike, Lexington, KY 40511

Attorney Jim Seiffert will be a speaker at the Kentucky Chamber's Kentucky Tax Conference in Lexington, KY.

James C. Seiffert October 16, 2019
Events

4th Annual Louisville Commercial Real Estate Summit

Date: 9/19/19
Time: 8:45 a.m. - 11:45 a.m.

The Omni, 400 Second Street, Louisville, KY

Jim Seiffert will be a speaker at this Real Estate summit in Louisville, KY, on September 19, 2019.

James C. Seiffert August 14, 2019
Events

Global Executive Forum: Foreign Trade Zones, Optimizing Savings and Operations

Date: 4/18/19
Time: 8:00 a.m. - 10:00 a.m.

The Olmsted, 3701 Frankfort Avenue, Louisville, KY 40207

Jim Seiffert will be part of a panel discussing the impact on trade and economic development in within the Commonwealth of Kentucky.

James C. Seiffert April 09, 2019