Exploring Opportunity Zones in Concord, CA
The Opportunity Zones program is a federal initiative to encourage investment in economically distressed communities. Concord has many properties and businesses ripe for investment. Individuals who invest in any of the four designated census tracts in Concord through a Qualified Opportunity Fund are eligible to receive tax benefits, such as deferring or even eliminating capital gains.
Opportunity Zones in Concord
- What are Opportunity Zones? – Opportunity Zones are census tracts located in economically-distressed communities. Opportunity Zones were created in 2017 by the Tax Cuts and Jobs Act.
- Where are Concord’s Opportunity Zones located? – Concord has four qualified Census Tracts. View the map above or download the Opportunity Zones Prospectus to see where they are located.
- What are the benefits of investing in an Opportunity Zone? – Depending on how long an investment is held, you may be eligible for up to a 100% exclusion of the deferred gains.
- How does one invest in an opportunity zone? – You may establish, or contribute to, a Qualified Opportunity Fund (QOF), which is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property located in an Opportunity Zone. The funds deposited to the QOF must consist solely of an investor’s gains from a prior investment.
- Are Opportunity Zone investments guaranteed by the federal government? – No, as with any real estate investment, there is risk involved and there are no guarantees that investors will earn a profit or recoup their original investment amount.
- Where can I find the rules and regulations governing Opportunity Zones and Qualified Opportunity Zone Fund Investments? – The Internal Revenue Service maintains a list of Frequently Asked Questions on its website.
- Whom should I contact for more information on Opportunity Zones in Concord? – For more information, please email Economic Development Specialist Marie Suvansin.