More investors with capital gain needed to redevelop Opportunity Zone
BOWLING GREEN, Ky. – The Brownfields Redevelopment program is still in the marketing phase.
But the Neighborhood and Community Services office needs more residents with capital gain to invest in the Opportunity Zone.
The Opportunity Zone, also called Census Tract 102, is all based on capital gain tax.
However, because not everyone pays a capital gain tax, it becomes a challenge to find new investors.
Only residents with capital gain can invest any amount into the Opportunity Zone.
The goal with the Opportunity Zone is to redevelop properties that have been contaminated in the past.
There are projects in the works throughout the community but nothing has been officially started.
Currently, the Neighborhood and Community Services office is looking for new investors.
Just last week, one resident did show an interest in investing, said Director Brent Childers.
But Childers says the big message is that more investors are needed.
If you would like information on how to invest in the opportunity zone, click here.