As part of the U.S. Congressional 2017 tax reform package (Tax Cuts and Jobs Act), the Opportunity Zone program was enacted to address uneven economic recovery and persistent lack of growth that have left many communities across the country behind since the Great Recession.
This economic and community development tax incentive program provides a new impetus for private investors to support distressed communities through private equity investments in the form of business capital and/or real estate investment. The incentive program is a deferral, reduction and potential elimination of certain federal capital gains taxes on behalf of private equity investments over a period of no less than 5 years and no more than 10 years.
The U.S. Department of Treasury awarded the designation areas based on Census Tract data. There are
178 acres identified and available for development within Fountain Colorado designation area, which has already begun to spur private investment activity and a regional effort towards investor awareness.