Episode #28: Real Estate Tax Incentives with Blake Christian

In this episode, Millionacres editor Deidre Woollard talks with Blake Christian of HCVT about opportunity zones and other real estate tax incentives that both developers and investors can use.Blake Christian has over 40 years of experience providing tax consulting and compliance services to a wide variety of clients. Blake specializes in federal, state, and local tax incentive programs. He is a CPA and he and the HCVT OZ Team have been involved in the formation of over 100 Qualified Opportunity Funds and Qualified Opportunity Zone Businesses. They have also advised hundreds of other investors and professionals regarding the complexities of formation, operation, semi-annual testing and restructuring of QOFs and QOZBs. Learn more at https://www.hcvt.com/people-Blake-Christian. Questions? Email [email protected]:00:00 Introduction01:03 Guest Introduction01:50 Kinds of people investigating Opportunity zones02:35 Type of investments among clients03:57 IRS policy updates04:32 Basis clarification07:18 Clarifying opportunity zone projects09:12 Opportunity zone incentives12:50 Capital gain deferment 14:04 Difference between qualified opportunity businesses and funds15:13 Rules on qualification process18:26 Clients looking opportunities19:27 Seeing more interest in urban areas20:58 Projects in rural areas24:16 Tax incentives for developments27:38 Developer interest in housing29:45 Tax incentives for green initiatives31:00 Tax incentives in California33:15 Program changes and advocacy groups35:00 Covid impact36:01 Criticism around opportunity zones38:23 Hopes for program future40:36 Program changes in legislation