Brownfield Redevelopment in Opportunity Zones: Taking Advantage of OZ Tax Benefits
Determining Substantial Costs, Vacancy, and Environmental Remediation
New Regs Now In Effect
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide counsel with guidance based on the opportunity zone (OZ) regulations recently released by the Treasury Department related to brownfield redevelopment. The panel will address the IRS requirements in the assessment, remediation, and redevelopment of brownfield properties located in OZs in order to take advantage of the tax incentives created by prior tax reform.
Outline
- Overview of brownfield redevelopment
- OZ tax incentives under tax reform
- Principal issues and considerations
- Qualifying costs
- Substantial operational and definitional adjustments
- Pre-development activities and environmental remediation
- Best practices and strategies after the new legislation
Benefits
The panel will review these and other essential questions:
- What are brownfield OZs and what type of tax incentive is available for redevelopment?
- How are costs and vacancy defined under tax reform to be eligible as an OZ?
- How can counsel assist when a delay in the substantial improvement timeline occurs?
Faculty
Robert L. Collings
Partner
Schnader Harrison Segal & Lewis
Mr. Collings is co-chair of the Energy & Environmental Practice Group, co-chair of the Sustainability and... | Read More
Mr. Collings is co-chair of the Energy & Environmental Practice Group, co-chair of the Sustainability and Environmental Services Practice Group, former chair of the Litigation Department, and a former member of the Firm’s Executive Committee. He has more than 25 years of regulatory and litigation experience in environmental law and hazardous substance issues and environmentally-affected corporate, real estate, and land use issues. A former enforcement attorney and manager at the U.S. Environmental Protection Agency, Mr. Collings represents manufacturing, transportation, financial services, retail and real estate businesses and others with permit needs, claims, and transactional matters involving environmental or regulatory issues. He has detailed familiarity with federal, state and local regulatory programs and their managers and tries cases in state and federal courts and administrative tribunals.
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George C. D. Duke
Attorney
Brown Duke & Fogel
Mr. Duke focuses his practice on helping businesses navigate complex environmental and land use laws and regulations... | Read More
Mr. Duke focuses his practice on helping businesses navigate complex environmental and land use laws and regulations pertaining to corporate and real property transactions, mine expansions, land development projects, and brownfield redevelopment projects. He regularly assists business clients in matters of site acquisition and due diligence, construction and related project development agreements, project financing, and tax mitigation and development incentives. Mr. Duke handles environmental enforcement actions pertaining to wetlands, petroleum and chemical bulk storage facilities and various commercial and industrial facilities.
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