Citigroup, Inc. · NYSE:C
Citigroup — Opportunity Zones Webinar (June 2018)
11 slides from Citigroup's conference presentation, Jun 19, 2018
Slide 1: Opportunity Zones: A Brief Overview
A Brief Overview | June 19, 2018 Opportunity Zones Lisa Brill Jeffrey Jaeger John Heppolette Michael Novogradac Partner Principal Citi Community Capital Partner Co-Head
Slide 2: Welcome
Citi Community Capital Welcome • To ask a question – email AskCitiCommunityCapital@citi.com – Follow instructions from the Operator - Press *1 for the operator to open your line. This will enter you into the queue to ask a question • The recording will available within the next 24 hours at http://ww
Slide 3: Agenda
Citi Community Capital Agenda • Introduction of Panelists • Background and current status of Opportunity Zones (OZs) • Panelist Discussion • Audience Question and Answer
Slide 4: Your Webinar Panelists
Citi Community Capital Your Webinar Panelists John Heppolette Lisa Brill Citi Community Capital Partner Co-Head Jeffrey Jaeger Michael Novogradac Principal Partner
Slide 5: Opportunity Zone Definitions
Opportunity Zone Definitions Established under the Tax Cuts and Jobs Act of 2017, Opportunity Zones are intended to spur private investment in low income communities by providing tax benefits to investors. • All Qualified Opportunity Zone (“QOZ”) nominations have been certified by Treasury, and desi
Slide 6: Qualified Opportunity Fund Benefits
Qualified Opportunity Fund Benefits Any individual, corporation, or trust can defer capital gains from the sale or exchange of property to an unrelated person by investing such gains in a Qualified Opportunity Fund within 180 days of such gain. 1. Deferral of taxes on original gain - Taxation on ori
Slide 7: Application to Affordable Multifamily Housing
Application to Affordable Multifamily Housing Affordable housing developers planning a new project in a Qualified Opportunity Zone may find it beneficial to own the project through a Qualified Opportunity Fund. GP Interest Benefits • If a sponsor owns their GP interest through a QOF (or designates t
Slide 8: Considerations and Unknowns
Considerations and Unknowns Investors have started to think through the benefits and how to structure these investments, but there is limited guidance from the Department of Treasury and the IRS on the details. More information is expected soon. • Elimination of taxation on the gain requires the ini
Slide 9: Panelist Discussion
Citi Community Capital • How do you see bank and investor interest on the Panelist Discussion institutional level? CRA has fueled huge growth in the • Panelist Questions LIHTC and new market space, and LIHTC equity receives special considerations for bank equity investments. Will • I heard a rumor t
Slide 10: Audience Question and Answer
Citi Community Capital Audience Question and Answer • To ask a question – email AskCitiCommunityCapital@citi.com – Follow instructions from the Operator - Press *1 for the operator to open your line. This will enter you into the queue to ask a question
Slide 11: IRS Circular 230 Disclosure
IRS Circular 230 Disclosure: Citigroup Inc. and its affiliates do not provide tax or legal advice. Any discussion of tax matters in these materials (i) is not intended or written to be used, and cannot be used or relied upon, by you for the purpose of avoiding any tax penalties and (ii) may have bee