News

An Opportunity Zone alone won’t seal a deal, Oklahoma City attorney says

published in The Oklahoman | September 28, 2019

McAfee & Taft attorney Cheryl Vinall Denney was featured in a story in The Oklahoman following her presentation on Opportunity Zones at the 2019 Commercial Real Estate Summit, presented by the Oklahoma Commercial Association of Realtors, in Oklahoma City on September 25, 2019.  The incentive program was created as part of the Tax Cuts and Jobs Act of 2017 as a way to encourage increased investment and development in low-income areas designated as “opportunity zones.”

Despite the fact that the Opportunity Zone program has received a lot of buzz, the program has not yet gained a lot of traction in Oklahoma, said Denney.  Those who have taken advantage of Opportunity Zone incentives have typically combined them with other economic development tools for projects already in the works.

“An investment that doesn’t make sense in the first place won’t make more sense because it’s in an Opportunity Zone, but the program could make a good deal better,” she said.

You can read the entire article here: https://oklahoman.com/article/5642482/an-opportunity-zone-alone-wont-seal-a-deal-oklahoma-city-attorney-says