Opportunity Zones

The 2017 Federal Tax Cuts and Jobs Act created a new program called Opportunity Zones. These zones, allowed only in distressed census tracts, offer preferential tax treatment. Our team submitted census tracts for consideration to the Michigan Housing Development Authority (MSHDA) last year. The selection process was very competitive as only 25 percent of the distressed tracts in the state could receive this designation. Thankfully, two census tracts in The City of Holland received Opportunity Zone designation. 

 

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Holland Opportunity Zone Map, Census Tract 249


Holland Opportunity Zone Map, Census Tract 249 with Holland SmartZone boundaries defined


Holland Opportunity Zone Map, Census Tract 324.01













If you are interested in investing in an Opportunity Zone, you must set up an opportunity fund. Below are some resources regarding Opportunity Zones:

MEDA recently published a blog highlighting the opportunity in opportunity zones. 

This Barron’s article offers insight on the pros and cons of investing in opportunity zones without being too technical.

Frequently Asked Questions-MSHDA

Frequently Asked Questions-IRS

Qualified Opportunity Zone Fund Investments Information

Michigan State Housing Development Authority Resource Information

Opportunity Zones in the State of Michigan

Opportunity Zones in the United States of America

 
If you would like to set up a time to meet to discuss this program or other resources to support your business, please contact our Business Development Manager Greg King at 616.772.5226 x201 or greg.king@lakeshoreadvantage.com