Avon, CO — The Colorado Office of Economic Development and International Trade (OEDIT) and the Town of Avon are bringing together stakeholders at Avon Town Hall on January 8th to learn and discuss Colorado’s Opportunity Zones and how they can benefit Avon projects. Opportunity Zones, a part of the 2017 tax reform package, seek to promote economic vitality by incentivizing new development with favorable tax treatment of reinvested capital gains and forgiveness of tax on new capital gains. This provides a new impetus for private investors to support communities through private equity investments in business and real estate ventures.
The Town of Avon’s census tract #000503 was submitted to the U.S. Treasury for formal approval in late 2017. In turn, Avon’s approved Opportunity Zone comprises the majority of the Town and includes all developed and undeveloped portions of the valley floor.
“Opportunity Zones are powerful assets in our economic development toolkit. We want to bring together a diverse group of stakeholders, including developers, fund managers, real estate brokers, investors, and elected officials to show them how this innovative program can be implemented to shape projects and investment that can catalyze our community,” said Scott Prince, Avon Council member.
The afternoon workshop will include presentations on Opportunity Zone fundamentals, recommendations on how to engage investors, and tools for communities. Jana Persky, Strategic Initiatives Manager at OEDIT, manages the Opportunity Zone program for the state of Colorado. Plenty of time will be left for questions and networking. The same evening, Jana will give an overview presentation to the Avon Town Council.
“We are seeing significant interest in leveraging the Opportunity Zone designation and investment model. We expect investment to grow as more people learn about the tax benefits of investing in projects in Town. We think Opportunity Zones will be a game changer for Avon,” added Prince.
Avon Town Hall – Council Chambers 1st Floor - 100 Mikaela Way - All open to the public-
2:00 Welcome and Introductions (Scott P, Avon Councilor)
2:00 – 2:30 OZ Fundamentals (Jana P, OEDIT)
2:30 – 3:00 Real World OZ Case Studies (Four Points Funding)
3:00 – 3:30 Questions & Answers
3:30 – 4:00 Networking
4:00 – 5:00 Break
5:00 Presentation to Avon Town Council (Jana P, OEDIT)
For more information on Opportunity Zones, please contact Matt Pielsticker, Planning Director, at (970)748-4413 or firstname.lastname@example.org.