An Opportunity Zone is a community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service.
Framingham's designated opportunity zones
Opportunity Zone Program
The Opportunity Zone program provides a tax incentive for investors to re-invest unrealized capital gains into Opportunity Funds dedicated to investing into designated Opportunity Zones.
To find out if your Framingham property is eligible to take advantage of the new federal designation that can help you in redeveloping or selling, contact Arthur Robert, Director of Community and Economic Development for the City of Framingham.