Q1 2019
The New Year is already off to a fast start! In this issue we're covering new tax incentives for investors that are effective January 1, 2019, as well as partnership collaborations and new projects changing the face of Northern Colorado.
New Tax Incentive - Opportunity Zones
As a part of the Tax Cuts and Jobs Act of 2017, Congress enacted "Opportunity Zones" to address uneven economic recovery and lack of growth in certain communities. The new program will provide a federal tax incentive for investors who reinvest capital gains into a Qualified Opportunity Fund (QOF). A QOF needs to invest in property or businesses in designated low-income urban and rural areas.
Key Takeaways:

1. Only capital gains are eligible for investment in a Qualified Opportunity Zone. No other types of gains or income are eligible. The incentive is a deferral, reduction or potential elimination of certain federal capital gains taxes.

2. Opportunity Zones can help promote funding for affordable housing in areas with escalating prices or inventory shortages, fund new infrastructure to support economic growth and encourage investing in startup businesses that have potential for quick growth and the ability to export outside of Colorado. 
 
3. This new economic development tax incentive program provides encouragement for private investors to support distressed communities through private equity investments in businesses and real estate.    
OneNOCO Partners with Local Chambers of Commerce

Fort Collins, Loveland and Greeley Chambers of Commerce have announced that they will be partnering with the regional economic development firm, OneNOCO, in an effort to unite Northern Colorado, by retaining companies and attracting new opportunities. OneNOCO was developed in 2014 under the name Northern Colorado Economic Alliance, Inc. (NCEA). The new name and philosophy aims to create an alliance between the three communities which will foster economic development in the Northern Colorado region as a whole. In addition to the new Chamber of Commerce members, OneNOCO's board of directors is currently made up of various prominent Northern Colorado business leaders in the health care, development and banking industries.
Newest Mixed-Use Center in Northern Colorado
Timnath, CO
The Plaza at Riverbend, located in Timnath, Colorado, will include a total of 39,000 square feet of retail, office and restaurant space. Timnath is currently experiencing a housing boom and this project marks the town's first neighborhood commercial development. The retail and office condos will be sold to each end user upon the project's completion. The project aims to meet the market's high demand for commercial space designed for local businesses, providing entrepreneurs the opportunity to own and operate their commercial property in a central location less than one mile from I-25. Construction commenced in the Spring of 2018 with the Town of Timnath municipal building and the Trail at Riverbend Apartments is now under construction.

Neenan Company, a design-build firm based in Colorado, is the developer and contractor of this exciting mixed-use development. Tom Reznik of Realtec is the marketing representative for this project.
CoStar Market Reports - Larimer and Weld County
GREELEY
(970) 346-9900

1711 61st Street, Ste. 104
Greeley, CO 80634


Mark Bradley, SIOR, CCIM
Nick Berryman
Tom Reznik
Gage Osthoff
DJ Calvin
Lanny Duggar
FORT COLLINS
(970) 229-9900

400 E. Horsetooth Road, Ste. 200
Fort Collins, CO 80525

Steve Stansfield, SIOR, CCIM
Michael Ehler, CCIM, MAI
Erik Broman
Jeff Doran
Justice Rhodes
LOVELAND
(970) 593-9900

200 E. 7th Street, Ste. 418
Loveland, CO 80537


Ron Kuehl
Larry Melton
Patrick O'Donnell
Bruce Campbell
Jamie Globelnik