News Flash

Home

Posted on: January 3, 2019

Avon designated as Eagle County’s sole Opportunity Zone

Avon, CO —  The Colorado Office of Economic Development and International Trade (OEDIT) and the Town of Avon are bringing together stakeholders at Avon Town Hall on January 8th to learn and discuss Colorado’s Opportunity Zones and how they can benefit Avon projects. Opportunity Zones, a part of the 2017 tax reform package, seek to promote economic vitality by incentivizing new development with favorable tax treatment of reinvested capital gains and forgiveness of tax on new capital gains. This provides a new impetus for private investors to support communities through private equity investments in business and real estate ventures.

The Town of Avon’s census tract #000503 was submitted to the U.S. Treasury for formal approval in late 2017.  In turn, Avon’s approved Opportunity Zone comprises the majority of the Town and includes all developed and undeveloped portions of the valley floor.

“Opportunity Zones are powerful assets in our economic development toolkit. We want to bring together a diverse group of stakeholders, including developers, fund managers, real estate brokers, investors, and elected officials to show them how this innovative program can be implemented to shape projects and investment that can catalyze our community,” said Scott Prince, Avon Council member.

The afternoon workshop will include presentations on Opportunity Zone fundamentals, recommendations on how to engage investors, and tools for communities. Jana Persky, Strategic Initiatives Manager at OEDIT, manages the Opportunity Zone program for the state of Colorado.  Plenty of time will be left for questions and networking.  The same evening, Jana will give an overview presentation to the Avon Town Council.

“We are seeing significant interest in leveraging the Opportunity Zone designation and investment model.  We expect investment to grow as more people learn about the tax benefits of investing in projects in Town. We think Opportunity Zones will be a game changer for Avon,” added Prince.


Agenda

Avon Town Hall – Council Chambers 1st Floor - 100 Mikaela Way - All open to the public-

2:00                     Welcome and Introductions (Scott P, Avon Councilor)              

2:00 – 2:30        OZ Fundamentals (Jana P, OEDIT)

2:30 – 3:00       Real World OZ Case Studies (Four Points Funding)

3:00 – 3:30       Questions & Answers

3:30 – 4:00       Networking

4:00 – 5:00       Break

5:00                     Presentation to Avon Town Council (Jana P, OEDIT)


For more information on Opportunity Zones, please contact Matt Pielsticker, Planning Director, at (970)748-4413 or mpielsticker@avon.org.


Facebook Twitter Email

Other News in Home

DSC_0397

Council Appoints Next Town Manager

Posted on: April 10, 2019
20190108_JDS_AvonTownCouncil_0023

2.15.19 Council Brief

Posted on: February 22, 2019
Avon Comet

Catch the Avon Comet

Posted on: December 21, 2018
2018 TC Election Official Results

2018 Avon Town Council Election Results

Posted on: November 7, 2018

Town of Avon Updates Town Manager Search

Posted on: October 12, 2018

Avon Town Council Candidate Forum Announced

Posted on: September 27, 2018

Fire Restrictions Lifted in Avon

Posted on: September 6, 2018

Town of Avon Offices Closed Monday

Posted on: August 31, 2018

Natural Hazard Mitigation Survey

Posted on: August 22, 2018
Avon Comet

Avon Comet Pilot Program Amended

Posted on: August 1, 2018