SAN FRANCISCO, March 3, 2020 /PRNewswire-PRWeb/ -- More than 300 qualified opportunity funds (QOFs) report having raised $7.6 billion in opportunity zone (OZ) equity, according to the Novogradac Opportunity Funds Listing. Since May 2019, when Novogradac began tracking QOFs, the number of QOFs has nearly tripled, and OZ investment and development are expected to rise after the March 13 effective date of the final Treasury Department regulations as investors get more comfortable with the incentive.
As OZ activity grows, participants will gather to discuss final regulations, best practices and the future of the resource at the Novogradac 2020 Opportunity Zones Spring Conference April 23-24 in Long Beach, Calif. The conference presents a timely opportunity for OZ investors, managers and stakeholders to discuss strategies and best practices to drive investment into low-income communities. The event will include a Washington Report panel featuring Novogradac's managing partner, Michael J. Novogradac, Alfonso Costa Jr. of the U.S. Department of Housing and Urban Development, Shay Hawkins of the Opportunity Funds Association and Chris Slevin of EIG.
"The substantial and steady growth of the opportunity zones incentive has been remarkable," said John Sciarretti, CPA, Novogradac partner and conference chairman. "We appreciate the steadfast work from Treasury to release final regulations and now we can look forward to talking about the incentive with certainty."
Conference panel topics include the state of the OZ marketplace, structuring a multi-asset QOF and combining OZs with other incentives. The full agenda can be found here. Pre-conference workshops on OZ basics and on overcoming OZ obstacles will be held April 22. Separate registration and fees apply for the pre-conference workshops.
The Novogradac 2020 Opportunity Zones Spring Conference is co-hosted by NES Financial. The event is sponsored by Bellwether Enterprise, Coats Rose, Crate Modular, Dentons, Enterprise, Greenberg Glusker, Husch Blackwell, Kutak Rock, Manatt, Miles & Stockbridge, Sadis and Squire Patton Boggs. Trade sponsors for the event are OpportunityDb and CalOZ.
About Novogradac
Novogradac began operations in 1989 and has grown to more than 600 employees and partners with offices in more than 25 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, opportunity zones, community development, historic rehabilitation and renewable energy.
SOURCE Novogradac & Company LLP
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