What is an Opportunity Fund?
- Must be certified by the U.S. Treasury Department.
- Must be organized as a corporation or partnership for the purpose of investing in Qualified Opportunity Zone Property.
- Must hold at least 90% of their assets in Qualified Opportunity Zone Property. Qualified Opportunity Zone property includes newly issued stock, partnership interests, or business property in a Qualified Opportunity Zone business
- Opportunity Fund investments are limited to equity investments in businesses, real estate, and business assets that are located in a Qualified Opportunity Zone. Loans are not eligible for the tax incentives. Opportunity Fund investments in real estate are subject to a substantial rehabilitation requirement.
We compiled a list of OZ funds HERE. You can also access Novogradac’s comprehensive list of OZ funds HERE.
How to Set Up an OZ Fund:
If you’re looking to set up an Opportunity Fund, take a look at this step by step guide to get you started.
NM OZ Project Pipeline:
- View a list of NM’s OZ projects with project details and local follow-up contact HERE.
- View NM’s OZ tracks and projects in map view HERE
NM State Incentives:
NM has numerous state incentives available to qualified and eligible projects.
- Access a list of NM’s incentives HERE.
- Contact your NMEDD Regional Rep or the NMEDD Finance Development Team to receive a customized incentive analysis to understand what potential incentives are available to you.
Available Land and Real Estate:
- NM State Land Office, contact the Office HERE.
- The NM Partnership can help locate available real estate in NM
Leverage Additional Funding Opportunities:
FUNDIT-Community is an interagency group made up of Federal and State funding agencies, Council of Government Directors, NMEDD Regional Reps and Community Foundations. The group acts as the NM OZ Interagency Task Force. By participating in FUNDIT, you can connect directly to funding decision makers and receive direct feedback about what funding opportunties exist for financing your project.
The White House Opportunity and Revitalization Council has put together a fantastic list of over 160 Federal programs where targeting, preference, or additional support could be granted to OZs.
Receive OZ Projects via Email:
You can receive NM OZ projects by signing up for the NM OZ Email List.
- Projects are submitted through the NM OZ Project Portal.
- NMEDD vets the project and summarizes the information.
- Project is sent out to the NM OZ Email List.
- You connect with the project by following-up with the respective contact.
Links to External OZ Resources:
- EIG About OZ: https://eig.org/opportunityzones/about
- US Department of Treasury CDFI OZ Resources: https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx