August 10, 2018
Conant Thread, a new 150-acre Transit-Oriented Development District in Pawtucket/Central Falls, is benefiting from recent Opportunity Zone U.S. Treasury Department certification for five census tracts. Three include the Conant Thread TOD district, and two more include adjacent districts in the downtown and waterfront. (See the map- for details).
As we move forward with the evolution of the new Conant Thread district the opportunity zones will provide valuable incentives to help fill the gap in the financing of new development.
Designed to spur investment in distressed communities, the federally designated opportunity zones offer preferential tax treatment. Investing in opportunity funds can provide the following three tax incentives to investors:
• Deferral of capital gain
• Reduction of realized gain through a basis adjustment if asset held greater than 5 years
• Possible permanent exclusion of gain on the appreciation for the interest in a Qualified Opportunity Fund.