What is an Opportunity Zone?
The Opportunity Zone Program is designed to encourage long-term investment in low-moderate income areas. The program provides a federal tax incentive for investors to re-invest unrealized capital gains into opportunity zones through opportunity funds. Qualifying investments may include a wide range of commercial and residential investments, such as transit-oriented development, affordable housing and mixed-use development. In exchange for their investments, opportunity fund investors are able to decrease their federal tax burden through the preferential treatment of capital gains.
Where in West Hartford is an Opportunity Zone located?