Melissa is an exceptional partner in regional economic development. Her ability to coordinate seamlessly with Alliant Energy ensures that Winnebago and Worth counties are always positioned for growth. She is proactive, deeply knowledgeable, and highly collaborative- bringing her into a project early is a guarantee that things will move forward efficiently and successfully.
— Chad Hansen , Alliant Energy
The Last Word: Federal Opportunity Zones
9 May 2025
News
For nearly a decade, the federal Opportunity Zone (OZ) program has been a transformative tool for real estate developers, particularly in the multi-family housing sector. With rental demand surging in high-cost metropolitan areas, developers have leveraged the OZ program to increase housing inventory in underserved communities, benefiting from the substantial tax incentives.
However, the technical requirements—especially the substantial improvement test — work best for ground-up build projects versus rehabs. When a Qualified Opportunity Fund (QOF) acquires improved real estate (rather than raw land), the fund must make improvements at least equal to the building’s tax basis within a 30-month period.
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