City of Rochester
News Release
(Tuesday, Oct. 1, 2019) – Mayor Lovely A. Warren is hosting an Opportunity Zone Summit, from 1-4 p.m., on Tuesday, October 8, at the Rochester Riverside Convention Center for investors and developers interesting in learning more about the new incentive to invest in parts of Rochester poised for growth.
How to take advantage of Opportunity Zone Funds – and how to combine those with other incentives – is the focus of the City-sponsored summit. The City aims to leverage the Opportunity Zones program, embedded in the 2017 Tax Cuts and Jobs Act, to bring investment to designated “Opportunity Zones” in the city.
“This is a wonderful investment opportunity, which also contributes to the ongoing revitalization of our community,” Mayor Lovely A. Warren said. “This is our chance to add qualify affordable housing and bring in new businesses to create more jobs, safer and more vibrant neighborhoods and better educational opportunities.”
The City has prepared an Opportunity Zone Investment Prospectus that highlights multiple projects that would qualify. This includes the Bull’s Head neighborhood, the Marina Overlook in Charlotte and the historic French’s Mustard manufacturing complex in the EMMA neighborhood.
Investors have until Dec. 31 of this year to structure a fund to ensure they get the maximum tax benefit under the Opportunity Zone incentive.
To learn more about the Opportunity Zone Investment Summit and to download the Investment Prospectus, visit www.CityofRochester.gov/OpportunityZones. Registration is currently open for the summit, which includes a tour of Rochester sites, along with networking opportunities with other investors and developers.
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News Media: For more information, contact Press Officer Jessica Alaimo at 428-7135.