Free info session to shed light on Opportunity Zones benefits and prospects
Marlborough, MASS. April 16, 2019 – The Marlborough Economic Development Corporation (MEDC), in conjunction with the City of Marlborough, Mayor Arthur Vigeant and Day Pitney LLP is hosting a free information session to address legal and practical questions about Opportunity Zones and pinpoint related investment opportunities within the city.
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.
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.
“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, and local and regional investors, developers, bankers, property owners, attorneys and real estate brokers are encouraged to attend. Registration is required. Deadline to register is April 19th.
For more information and to register, go to: https://understanding-opportunity-zones.eventbrite.com/?aff=PR
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About Opportunity Zone Program:
The Opportunity Zone Program is a federally-established program to provide investment incentives for certain census tracts. This is a tool to encourage growth in low income communities. To learn more about the program, go to https://www.mass.gov/opportunity-zone-program.
About MEDC:
The Marlborough Economic Development Corporation (MEDC) is the state chartered economic development corporation for the City of Marlborough, MA and represents a public-private partnership for planning. MEDC works with municipal and private investors to foster economic development, job growth and community revitalization.
For a complete overview of MEDC, visit MarlboroughEDC.com.
About Day Pitney LLC:
Day Pitney LLP is a U.S. law firm with more than 300 attorneys spread across thirteen offices in five states and the District of Columbia. In 2011, Day Pitney ranked 139th on the National Law Journal’s list of the 250 largest American law firms. For more information, go to https://www.daypitney.com.
For press inquiries, contact:
Lora Markova
Communications Director, MEDC
press@marlboroughedc.com
617 513 1324
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