As seen on: ROI-NJ.com
By Tom Bergeron

The city of Newark has one of the top locations in the country for investors looking to take advantage of the new Opportunity Zone Program, according to a national study released Thursday morning.

The LOCUS National Opportunity Zone Ranking Report ranked a census tract in downtown Newark in a tie for sixth place among the top Opportunity Zones for Smart Growth Potential, in a ranking of nearly 8,000 tracts.

In addition, a tract in Newark ranked fourth overall in locations deemed to be the top Social Equity and Vulnerable Places with High Smart Growth Potential, meaning the city not only could handle the investment, it would do so without hurting the existing population.

> Link to Full Article on ROI-NJ.com

As seen on: ROI-NJ.com
By Tom Bergeron

The panelists at the Opportunity Zone program were a bit bombastic when it came time to describe the potential the program has in low-income areas.

“Too good to be true,” said one.

“We’ve never seen anything like this,” said another.

Ted Zangari, head of the Real Estate Department at Sills Cummis & Gross and the person credited for bringing the Rutgers Center for Real Estate event together Monday in New Brunswick, summed it up this way:

“If ever there was an idea that challenged the notion that if something is too good to be true it probably is, it would be the Opportunity Zone program,” he said.

But for whom — and for where?

> Link to Full Article on ROI-NJ.com

In an exclusive audio interview, Newark real estate attorney Ted Zangari says investors need to start identifying appreciated assets quickly so that they can engage in Opportunity Zone transactions before the end of 2019 to gain the maximum tax advantages.


As seen on: GlobeSt.com
By: Steve Lubetkin

With Developers waiting to learn about tax treatment of Opportunity Zone investments in New Jersey may get some answers on Monday when Gov. Phil Murphy is expected to join US Sen. Cory Booker on stage at an Opportunity Zones conference being sponsored by the Rutgers Center for Real Estate at the Hyatt Regency hotel here, according to Ted Zangari, chair of the real estate practice at Sills Cummis & Gross, a commercial law firm with New Jersey offices in Newark and Princeton.

News of Gov. Murphy’s decision to participate in the panel…

> Link to Full Article on GlobeSt.com

> Link to Audio Podcast

Sills Cummis has learned that later today the Internal Revenue Service will be releasing the long-awaited regulations for the new federal Opportunity Zone program together with a revenue ruling and a key document, the Form 8996 for self-certification by OZ funds.  Please return to this site over the weekend and beyond for a continually-updated summary and analysis of the program rules.

As seen on: HousingFinance.com
By: Catalina Vielma

Opportunity Zones have officially become the industry’s buzz phrase for 2018. Since the passage of the Tax Cuts and Jobs Act, we have watched governors designate which census tracts they want to favor and listened as the states forecast the potential impact on their local economy. As I visit developers and housing finance agencies across the country, I continually hear this question: “It sounds great, but how do Opportunity Zones work with housing tax credits?”

> Link to Full Article on HousingFinance.com

As seen on: ROI-NJ.com
By: Tom Bergeron

In this ROI-NJ interview, Sills Cummis’ Ted Zangari and Jaime Reichardt share their insights on the recently enacted federal Opportunity Zone Program.


Ted Zangari, chair of the Redevelopment Law Practice Group at Sills Cummis & Gross P.C. in Newark, is one of the most prominent public incentives and real estate attorneys in the state. His law firm colleague Jaime Reichardt chairs the firm’s state and local tax practice and has advised clients on all sorts of complicated federal and state taxation issues.

> Link to Full Article on ROI-NJ.com

As seen on: Bisnow.com
By: Joseph Pimentel, Bisnow Los Angeles

In Downtown Long Beach, million-dollar homes, high-end condominiums and luxury apartments line Ocean Boulevard, just a few steps from the beach. The waterfront has high-rise hotels, towering office buildings and chic retail and restaurants. The city also has pockets of abject poverty.

> Link to Full Article on Bisnow.com

Opportunity Zones, created by Trump’s tax law, are meant to help the heartland thrive and make the country more equal—but can they pull it off?

As seen on: TheAtlantic.com
By: Annie Lowrey

FRESNO, Calif.—Census tract 06019000100 has a lot going for it. Locals cheer the melting-pot atmosphere, the arts scene, the nearby nature, and the affordable housing—affordable in national terms, which feels all the more amazing given that it is a quick drive both to the grandeur of Yosemite and to the tech hub of the Bay Area. Start your car up and grab a coffee here at 9 a.m., and you could be standing in downtown San Francisco or in front of Apple’s headquarters by noon.

> Link to Full Article on TheAtlantic.com