Opportunity Zone
Port Huron Opportunity Zone
The Port Huron Opportunity Zone was designated by the Governor of the State of Michigan to provide investors with the opportunity to reinvest their capital gains in a unique community that is growing in the metro Detroit region and along one of the top five border crossings in North America.
Development opportunities, contact:
Economic Development Alliance of St. Clair County
Contact: Dan Casey
Phone: 810.982.9511
Email: dcasey@edascc.com
Development Opportunities
Desmond Landing
This 40-acre waterfront property is owned by an area philanthropist. It calls for a mixed-use, heavy residential development, including condominium high-rise, hotel, entertainment features, and senior and workforce housing intermingled with retail corridors.
Desmond Landing Prospectus
Conceptual Plan
Opportunity Zone Program Overview
The Opportunity Zones (OZ) program was created in the 2017 Tax Cuts and Jobs Act. Changes in the federal tax code sought to leverage an estimated $2.3 trillion of unrealized capital gains and encourage investors to reinvest through a new financing vehicle.
The program’s tax incentive enables individuals and corporate taxpayers to defer capital gains (long and short term) on the sale of stock, assets, and other property by investing the proceeds into a certified opportunity zone fund that provides equity to businesses or projects within designated, distressed communities.
Opportunity Zone Incentives
- An investor can defer capital gains taxes until 2026 by rolling their gains directly over into an Opportunity Fund.
- The deferred capital gains liability is effectively reduced by 10% if the invested Opportunity Fund is held for 5 years, and another 5% if it is held for 7 years.
- Any capital gains that accrue after the initial investments made through the Opportunity Fund are tax-free as long as the investors stays invested in the fund for at least 10 years.
Opportunity Zone Links
Opportunity Zone Frequently Asked Questions
CDFA Opportunity Zones Overview
Opportunity Zones – Economic Innovation Group
Opportunity Zone Fact Sheet – Economic Innovation Group
Tax Benefits
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