Author Archive | Mike Ballard

U.S. Treasury to Announce Next Round of NMTC Allocation Within Weeks

In March 2019, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund will announce the allocatees for the $3.5 billion of New Markets Tax Credits (NMTC) allocation. Since inception, the NMTC program has allocated a total of $54 billion in tax credit authority to community development entities (CDEs) headquartered in 45 states, the […]

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Ballard to Speak at State-sponsored Opportunity Zone Conference, November 27

Mike Ballard, CEO of Ballard Consulting and a Managing Director in Sixty West Funds, is speaking at an Opportunity Zone Conference on Tuesday, November 27, from 8:00 a.m. – 4:00 p.m. at the City of Las Vegas Council Chambers, 495 South Main Street, Las Vegas, NV 89101.  Mike’s session is called “The TANK — Hear from Opportunity Zone Funds.”  In […]

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Treasury Releases Guidance on ‘Opportunity Zone’ Program

The Internal Revenue Service unveiled proposed regulations for the Opportunity Zones (OZ) incentive, addressing gains invested in qualified opportunity funds. The rules provide investors with guidelines about how they can qualify for special tax breaks in so-called Opportunity Zones — underdeveloped areas where the U.S. government is trying to promote investment. They specify that only capital […]

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What a week!

In the last week, I’ve done presentations in Salt Lake City, Orange County and Las Vegas regarding Opportunity Zones.  This is such an important and potentially revolutionary program that I believe will truly transform low-income, neglected neighborhoods.

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Opportunity Zones Podcast From Salt Lake City

Mike Ballard was interviewed by Mark Jenson,  Executive Vice President of Investment Sales with Colliers International based in Salt Lake City. Opportunity Zones are a hot button of discussion inside of the CRE and investment world, and Mike explains why!  This podcast is a the first part of a two-part interview as Mark and Mike […]

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OZ Coalition Letter Requests Guidance from IRS, Treasury

The Opportunity Zones Coalition this month sent a letter to David J. Kautter, the acting commissioner of the Internal Revenue Service, outlining the major unresolved issues and requesting guidance and clarification from the IRS and Treasury Department concerning the opportunity zones (OZ) incentive. The letter, signed by 46 organizations including some clients of Ballard Consulting, seeks […]

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Opportunity Zones: A Tax Incentive for Existing Capital Gains Deferral

Investing in Opportunity Zones allows real estate investors to defer or eliminate short-term and/or long-term gains on the sale of real property, stocks or other investments. The federal government included an important tax incentive provision for real estate investors, developers and professionals in the federal Tax Cuts and Jobs Act that was enacted in December […]

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CDFI Fund Awards $3.5 Billion in NMTCs

On Tuesday, February 13th, the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) awarded $3.5 billion in New Markets Tax Credit allocation to 73 community development entities throughout the country. Based on the terms of the awards, it is expected that approximately $2.47 billion of allocation will be deployed to support businesses in […]

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