Opportunity Zones connect investors with low-income communities by creating a new national network of deal opportunities in much the same way that we systematically invest in foreign emerging markets now.
The program offers a frictionless way to reinvest capital gains into distressed communities through Opportunity Funds, in exchange for a graduated series of incentives tied to long-term holdings.
The Opportunity Zones program offers investors three incentives for putting their capital to work rebuilding economically distressed communities:
- A temporary deferral: An investor can defer capital gains taxes until 2026 by putting and keeping unrealized gains in an Opportunity Fund.
- A reduction: The original amount of capital gains on which an investor has to pay deferred taxes is reduced by 10% if the Opportunity Fund investment is held for 5 years and another 5% if held for 7 years.
- An exemption: Any capital gains on investments made through the Opportunity Fund accrue tax-free as long as the investor holds them for at least 10 years.
The entire City of Winooski has been designated as an Opportunity Zone. Whether you are a developer in need of additional capital, or an investor seeking a specific type of project, we at the City of Winooski are happy to assist you in finding the right fit.
Why Invest in Winooski?
Winooski provides a development-friendly environment. Our staff operates with a “get to yes” attitude. We see ourselves as partners in making projects work. The City has adopted Form Based Code in our gateway zoning areas to offer predictability for development. Our administrative permitting process under the Form Based Code allows us to expedite municipal permitting. A project can be permitted in as little as 30 days. All of this adds up to big savings in time and money for developers.
Winooski offers a variety of incentives. Downtown Winooski is a Vermont Designated Downtown, which makes downtown development eligible for incentives such as: sales tax reallocation, state historic tax credits, code improvement tax credits, technology tax credits, Act 250 exemptions or expedited review, and priority consideration for state grant programs. The City is an active partner in seeking funding opportunities to support development.
Winooski invests in its future. From the establishment of our successful TIF district resulting in the award winning redevelopment of our downtown, to the recently passed bond vote to revitalize our Main Street, Winooski has demonstrated a willingness to invest in the infrastructure for our future. We invite you to invest with us.
For more information about the program, contact Heather Carrington, Community and Economic Development Officer: email@example.com / 802 655 6410