Snohomish County Opportunity Zones
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SNOHOMISH COUNTY OPPORTUNITY ZONES ADVOCATE • DEVELOP • CONNECT PROGRAM BENEFITS INVESTMENT TYPES Defer/reduce federal tax on current capital gains and elimination of taxes on future capital gains for investments held for ten years in designated » Real Estate Development and Renovation Opportunity Zones. Program has five, seven and ten year holding periods. » Operating Businesses » “Sin Businesses” Excluded SNOHOMISH COUNTY OPPORTUNITY ZONES Examples: Country Club, Massage/Tanning/Hot Tub Facility, Gambling or Liquor Sales Lynnwood City Center — US Census Tract 53061051400 Snohomish County/Paine Field — US Census Tract 53061041901 Everett North — US Census Tracts 53061040200, 53061040700 CURRENT PROGRAM DURATION Marysville North — US Census Tract 53061052803 Arlington Airport — US Census Tract 53061053509 2018 - 2026 Darrington — US Census Tract 53061053700 >> See map on the back HISTORY FUNDS FLOW Authorized by the Federal Tax Cuts and Jobs Act; December 22, 2017. Program is designed to provide tax incentives Qualified to investors who fund businesses in Taxpayer Opportunity Project under-served communities. Fund NOTE: At this time, there is no Fund in Snohomish County. LEARN MORE » FAQ for Opportunity Zones MAY BE USED WITH OTHER FEDERAL PROGRAMS » IRS Regulations » Low Income Housing Tax Credit » New Market Tax Credit » Historic Tax Credit NORTH BROADWAY City of Everett Opportunity Zone Tract No. 402 Legion Golf Course Riverside Business Park <— (Port of Everett) Everett CC WSU Everett Everett Housing Authority <— Providence & <— Surplus property Children’s Hospitals DOWNTOWN City of Everett Opportunity Zone Tract No. 407 <—Navy & Port Funko Arena Museums Kaiser Civic Everett Station 2036 light rail—> Riverfront 190 TH Broadway Riverfront 1,200 APT 41st Riverfront 235 SF 7 SNOHOMISH COUNTY OPPORTUNITY ZONES 6 1 Lynnwood City Center 2 Snohomish County/Paine Field 5 3/4 Everett North 5 Marysville North 6 Arlington Airport 7 Darrington 4 3 2 1 Seattle - 15 Miles For additional information please contact Economic Alliance Snohomish County: Matt Smith Andrew Vuong Director, Industry & Resource Development Director, Strategy & Industry Diversification [email protected] [email protected] (P) 425.248.4219 (P) 425.248.4225 ADVOCATE • DEVELOP • CONNECT.