MAIN STREET JOURNAL – Marlborough Economic Development Corporation (MEDC), in conjunction with the City of Marlborough, Mayor Arthur Vigeant and Day Pitney LLP, will host a free information session to address legal and practical questions about Opportunity Zones, and pinpoint related investment opportunities within the city. The seminar will be held at the Marlborough Country Club on Thursday, April 25th, starting with registration at 2:30 PM.
Last spring, federal officials approved the city’s request to participate in the Opportunity Zones Program, a tax incentive initiative aimed at spurring economic development in low-income communities. The presentation and discussion will be particularly useful to investors, bankers, land or building owners, landlords, lawyers, and real estate brokers.
Qualified Opportunity Zone (QOZ) panelists from Day Pitney LLP will provide an overview of the QOZ program, discuss investor tax benefits and provide guidance for creating and maintaining QOZ funds. Mayor Vigeant will outline the local QOZ program and highlight specific QOZ opportunities in the City of Marlborough.
“About one-sixth of Marlborough has been designated as an Opportunity Zone, so it is important for us to educate the real estate investment and development community about what that actually means and how they can benefit from it,” said Mayor Vigeant. “This program creates a win-win situation, in which investors can save money and the local community can benefit from having more housing options, service facilities and employment opportunities.”
“The Opportunity Zones program has the potential to create some real economic development momentum in our city,” said MEDC Executive Director Meredith Harris. “I think it can do for our community development what the Tax Increment Financing program has done for our job market, so it is important for us to inform as many people as possible about it.”
The Opportunity Zones information session is open to the public. Registration is required. For more information and to register, visit tinyurl.com/y6t8wzlv.
This article originally appeared here.