Land and business-owners with qualifying business investment or real estate development opportunities are encouraged to submit their projects here to be featured on the site.
A public informational session on Opportunity Zones is scheduled for December 11, 2018 from 8:00 a.m. to 9:00 a.m. at the City Hall of Frederick, 101 N. Court Street, Frederick. The event will provide more details on the logistics of utilizing the incentive program.
To register for the session or for more information about the session or project submission process, please contact Mary Ford-Naill or Becky Kaler with the City of Frederick’s Department of Economic Development at firstname.lastname@example.org.
ABOUT THE OPPORTUNITY ZONE PROGRAM:
The Opportunity Zone program is a nationwide initiative administered by the U.S. Treasury and created under the 2017 Tax Cuts and Jobs Act. The program allows investors to receive federal tax incentives by investing their capital gains into select communities (Opportunity Zones) via special investment vehicle called Opportunity Funds. Investors may receive increasing discounts on any capital gains taxes due on that money. If an investment is left in the Opportunity Fund for 10 years, any new gains are free of capital gains taxes.
The program is designed to be flexible, allowing a range of different types of investments, and unlike other federal tax programs, there is no authorized cap on the amount of capital that could be made available through Opportunity Zone investments.
The City of Frederick Opportunity Zone encompasses the southern portion of Frederick’s vibrant Downtown and is adjacent to the City’s award-winning Creek-walk. Sitting at the cross-section of two major interstates – I-270 & I-70, and hosting both the Frederick Municipal Airport and MARC train station, the area is well-connected and easily accessible.