Opportunity Zone Development Fund Breaks Ground with State-of-the-Art IQ Car Wash
Opportunity Zone Development Fund, an Arizona Limited Liability Company, recently completed its land acquisition and is in the process of developing the improvement plan that must be adopted to qualify the partners' capital to receive the Opportunity Zone Tax benefits.
SEDONA, Ariz., Sept. 27, 2019 /PRNewswire-PRWeb/ -- The after-tax benefits available to the Opportunity Zone Development Fund partners is significant. A $100 investment in an Opportunity Zone Fund earning 7% grows to $154.00 after taxes in 10 years, while a taxable investment earning the same 7% is only worth $115.00 over the same time increment. The difference in growing partners' net worth is staggering, The first project is an A+ location on the first corner west of Interstate 17 and SR 260 in Camp Verde. The partnership will build an IQ Car Wash to serve the 19,000 residents in the rural Arizona community.
"The IQ Car Wash provides a high-quality, friendly environment using state-of-the-art technology," said fund manager Robert Witt. "The car wash will hire 7 employees and offer 2 automatic car washes, 4 self-serve auto washes and 2 self-serve RV washes. It's strategically located across SR 260 from the Verde Ranch RV Resort and sits at the gateway to the Verde Valley."
The IQ Car Wash is the culmination of a year of research and Witt is ecstatic to announce that IQ Car Wash is bringing the innovative brand to Camp Verde. The "Smarter, Cleaner, Greener" car wash uses 3D mapping technology, high-tech equipment, premium biodegradable soaps, less water and less energy to provide a better wash than the competition.
"IQ Car Wash is doing an amazing job in small, underserved markets in the United States. They are expanding aggressively and profiting from the service they provide to customers in markets that are similar to Camp Verde around the country," noted Witt. "The Opportunity Zone tax benefits really help open these small markets to investors and the company hopes this is the first of many projects that provide community benefits and reward the partners willing to invest."
About Robert Witt, The Opportunity Zone Development Fund 1 LLC
Robert Witt is the Manager of The Opportunity Zone Development Fund 1 and The Opportunity Zone Development Company LLC. He is a former Chairman of the Camp Verde Planning and Zoning Commission, and a Former Chairman of the Camp Verde Sanitary District. He has managed 5 distinct real estate opportunity funds during his career and likes opportunity zone tax benefits more than any other incentive he has seen during his career. For more information, please call (928) 202-1000. The Opportunity Zone Development Fund LLC is located at 400 W Finnie Flat Road, Suite 1C, Camp Verde, AZ. To read more about Opportunity Zone Development Fund and Simonton Ranch Land Holding in the news, please visit https://thenala.com/media-room/media-room-detail/robert-witt-simonton-ranch-land-holding-llc.
For media inquiries, please call the NALA at 805.650.6121, ext. 361.
SOURCE Opportunity Zone Development Fund, LLC
Share this article