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Opportunity Zones

Knox Law and Knox Law Public Strategies are pleased to announce the launch of a comprehensive Opportunity Zone and Fund consulting practice.

Knox Law has a 60-year history of representing local governments and businesses, advising on community, real estate and economic development projects, and advising individuals in estate planning matters. Knox Law Public Strategies was launched by the firm in 2014 to leverage that unique experience by providing counsel and advice on matters of public importance.

Knox Law Public Strategies is prepared to assist communities, developers and investors in understanding what it means to have an Opportunity Zone in their town, as well as how to capitalize on the investment opportunity. While the country waits for Treasury to release regulations governing the operation of Opportunity Funds, which are anticipated to be released this fall, now is the time to prepare for the investment potential.

5 Phases of Opportunity Zone Development

There are five (5) phases to the development of a successful Opportunity Zone project. It is not too soon to get started. Knox Law Public Strategies is ready to assist in each of the five steps.

1. Stakeholder Education. Educate local government, community, economic development, and business leaders, and real estate developers as to what it means to have an Opportunity Zone within your town, and the opportunities they may present.
2. Investor Identification and Education. Identify and educate potential investors as to the tax and community benefits of investing in Opportunity Funds.
3. Project Identification and Preparation. Identify eligible projects early. Not every real estate or business investment that is located within an Opportunity Zone is an eligible Opportunity Fund investment. Identify and develop eligible projects early, to increase the chances of receiving Opportunity Fund investment.
4. Fund Development and Identification. Once eligible projects are identified and regulations are released related to Fund Development, the race will be on to build Opportunity Funds. One concern is that interested investors could invest in national Opportunity Funds, which means you will have to compete on a national basis for investment in your Opportunity Zone. If you start the process early, you can work to develop Funds with a local investment strategy as well as identify larger Funds which may be interested in your eligible projects.
5. Project Promotion. Once Opportunity Funds begin to be developed, you will need to promote your eligible projects to existing Funds, or entice the creation of project specific Funds.

Our Team

There are no one-sized fits all solutions, and any Opportunity Zone/Fund process has to be driven by local leaders.

Our team is prepared to help you through this process and is available to assist on a national basis.

Timothy S. Wachter is the Firm’s lead for Knox Law Public Strategies. He is a member of the Government Practice and Business & Tax Groups and regularly advises clients on highly complex matters involving business and government. Follow him on Twitter @twachter or @KnoxLawPublicStrategies.

Jeremy T. Toman's practice is focused on real estate, business law and environmental law. Jeremy regularly provides counsel on highly complex and regulated transactions.

Frances A. McCormick focuses her legal practice in the areas of Business & Tax law, Estate Planning & Administration, business succession planning, and Real Estate. Prior to joining Knox Law, Frances was involved in several large scale real estate development projects in the Baltimore/DC area as well as the Middle East and currently advises Knox Law Public Strategies clients on acquisitions, financing, structuring, marketing and sales.

William B. Helbling focuses his practice on business & tax law, and has experience representing investors in FINRA Arbitration at the Securities Arbitration Clinic. He provides tax support for Knox Law Opportunity Zones.

Opportunity is Knocking - Webinar - October 16, 2018

This webinar was presented on October 16, 2018 through the Ben Franklin Technology Partners eMarketing Learning Center: Opportunity is Knocking: National Program Provides Tax Incentives for Patient, Private Capital in Low-Income Communities.

Timothy S. Wachter Speaks at Mayor's Press Conference