JOHNSON COUNTY ECONOMIC DEVELOPMENT CORP logo

Opportunity Zone Tax Incentive Program

JOHNSON COUNTY ECONOMIC DEVELOPMENT CORP

Foundation One-time Community Development Grants

Funding Amount

Varies

Deadline

Rolling / Open

Grant Type

foundation

Overview

Opportunity Zone Tax Incentive Program

Overview: A federal tax incentive program established through the Tax Cuts and Jobs Act of 2017 to revitalize and create jobs in designated areas through private investment.

Geographic Scope: Two federally designated Opportunity Zones in Warrensburg, Missouri:

  • Opportunity Zone NW (northwestern Warrensburg)

  • Opportunity Zone SW (southwestern Warrensburg)

  • Encompasses much of the western side of the City limits
  • Program Duration: 10 years from official designation (designated in 2018)

    Tax Incentives Offered:

  • Temporary deferral of capital gains taxes

  • Step up in basis on invested capital

  • Permanent exclusion of gains from Opportunity Zone Fund investments
  • Financial Benefit Example:
    Investors will be approximately $44 better off for every $100 of capital gains rolled into an Opportunity Fund (as of 2018 example through 2028).

    Eligible Investments:

  • Through Qualified Opportunity Funds

  • Private investments and new development

  • Property within the designated zones
  • Combinable Incentives:
    Opportunity Zone benefits may be layered with:

  • Small Business Administration HUBZones

  • New Market Tax Credit Program

  • Johnson County Enhanced Enterprise Zone (EEZ) benefits (where available)
  • Contact Information:

  • Johnson County Economic Development Corporation (JCEDC)

  • Phone: (660) 747-0244

  • Email: info@growjocomo.com

  • Website: www.growjocomo.com

  • City of Warrensburg: (660) 747-9131

  • Website: www.warrensburg-mo.com

  • Opportunity Zone Website: www.opportunitywarrensburg.com
  • How to Apply

    How to Participate

    General Process:
    1. Identify investment opportunities within the designated Opportunity Zones
    2. Establish a Qualified Opportunity Fund
    3. Roll capital gains into the Fund
    4. The Fund invests in Zone property and projects
    5. Tax benefits apply based on timing and structure

    Resources Available:

  • Website: www.opportunitywarrensburg.com provides:

  • - Explanation of the program
    - Maps with zone boundary details
    - Available buildings and sites
    - Incentives and financing information
    - Facts and data
    - Important contact information

    For More Information:

  • Contact JCEDC at (660) 747-0244

  • Visit www.growjocomo.com

  • Contact City of Warrensburg at (660) 747-9131

  • Visit www.warrensburg-mo.com
  • Note: Specific rules and regulations were still being established by the U.S. Department of Treasury as of the 2018 announcement.

    Focus Areas & Funding Uses

    Fields of Work

    community-development

    Categories

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