Local Opportunity Zones have been identified to encourage long-term investments
in low-income urban and rural areas
Reno, NV – September 5, 2018 – The Certified Commercial Investment Members (CCIM) of Northern Nevada Chapter announces it will hold a panel discussion on September 25, 2018 regarding Opportunity Zones and their role in local and regional economic development.
Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act of 2017 and are defined as “economically-distressed” districts, neighborhoods or communities. The Opportunity Zones Program, administered by the U.S. Treasury Department, offers preferential tax treatment to encourage redevelopment, investment and job creation in distressed areas. Just five months ago, the first set of Opportunity Zones were designated in 18 states across the nation—some of which are located right here in Northern Nevada and Washoe County, specifically.
“Commercial real estate professionals are intimately involved with economic development initiatives,” said Carole Brill, Northern Nevada CCIM President. “We are oftentimes the primary contact for new and expanding businesses as well as investors. It’s critical we understand Opportunity Zones, what they offer and how they are used so we can effectively market them to our clients. Commercial real estate professionals will play an instrumental role in achieving the economic development goals within Opportunity Zones.”
Because Opportunity Zones are so new, the Northern Nevada CCIM chapter has put together an expert panel of speakers to address various aspects of the program, including investment analysis, creation of an Opportunity Fund to defer capital gains, development considerations and an in-depth look at local Opportunity Zones and their boundaries. The panelists include:
- Cory Hunt, Applied Analysis
- Jeff Kirby, of RM&D Nevada
- Michael Pagni, McDonald Carano Wilson LLP
- Blake Smith, S3 Development Company
- John Solari, J.A Solari & Partners
The general public and media is invited to attend this breakfast. For reservations, please visit www.NNevadaCCIM.com. The presentation will be held September 25, 2018 at 7:30a at the SureStay Plus Reno Airport Hotel. Tickets for CCIM members are $25 and non-members are $35.
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About CCIM Institute
CCIM Institute is a global community of 13,000 members, more than 50 chapters, and 30 countries that educates and connects the world’s leading experts in investment strategy, financial analysis, and market analysis.
Our courses and worldwide community deploy commercial real estate investment methodologies and tools that speed the pathway between opportunity, a go/no-go decision and success for an asset, taught by instructors who are themselves industry leaders. Today, the organization, through its 50 chapters, continues to innovate best practices and elevate the commercial real estate professional through its core designation program to earn the CCIM pin— real estate’s most coveted credential — and its topical education courses offered through the Ward Center for Real Estate Studies. In addition, membership in CCIM includes the industry’s best technology and operational platform, allowing entrepreneurial and mid-sized businesses to compete with the largest multinational providers. Today, almost 70 percent of designees hold the title of owner, partner, principal, or president, representing an exclusive worldwide referral network of 13,000 members in 30 countries. Ultimately, CCIM represents a larger vision of the commercial real estate provider, leveraging investment analysis, opinions of value, and underwriting to become a leader in sourcing capital, building a cash-flow vehicle, and ultimately creating value. Information at www.ccim.com.