Update On OZones from Phoenix Biz Journal's Brandon Brown

Here's a short snippet that got your MesaZona blogger's attention: " . . To take advantage of the new law, investors need to use an Opportunity Fund to invest in a business or real estate in an Opportunity Zone. But the law did not mention how these funds are established. . . while it is good to start thinking about where they want to invest, what they want to invest in and who they want to invest with, the actual investing can’t start until the U.S. Treasury Department, the federal agency that overlooks the Opportunity Zone program, provides guidance . . ."
It's a well-written and well-organized 'Exclusive" with basic summarized information, some details about the transactional politics behind-the-scenes about how the nominations and qualifications for Opportunity Zones were made in a 90-day timeline, and comments by players in the field like Jordan Rose from The Rose Law Group.
EXCLUSIVE:
Why Phoenix land owners and developers are eager to get started in 'Opportunity Zones'
By Brandon Brown Reporter, Phoenix Business Journal Apr 20, 2018, 10:59am MST
READ THE ENTIRE REPORT > Phoenix Biz Journal Exclusive_________________________________________________________________________________
Readers of this blog might want to note that more seven posts about Opportunity Zones and New Market Tax Credits can be found on this site ...just use the searchbox in the upper left hand corner top.
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To balance your reading of this suggestion, please also take a look at an article by Jon Talton who approaches the topic from a different perspective:
Distressed Arizona
"It's tough all over. Well, not really.
In the latest Distressed Communities report, which digs down to the ZIP Code level nationally, Gilbert ranks as the least distressed among America's 100 largest cities. It has zero distressed ZIP codes and 99 percent of them are considered "prosperous." The report, by the Economic Innovation Group, considers seven metrics to rank areas "distressed," "at risk," mid-tier," "comfortable," and "prosperous." It's become one of the gold-standard reports as America struggles with sharply different economic and social outcomes. . .
Arizona shouldn't be smug, despite the East Valley showing. Mesa ranked 41st and Glendale 82nd. The city of Phoenix came in 76 out of 100 . . The state as a whole had more than 24 percent of its population living in distressed areas, above the national average. . ."
Link > http://www.roguecolumnist.com/rogue_columnist/2018/02/distressed-arizona.html

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Looks like a group of people were more than "eager" to swoop in last year here in 'The Old Donut-Hole' buying up a bundle of sweet deals @ $100/sq.ft. for some under-used commercial properties with 'a historic vibe' in the not-so-vibrant Central Business District that's still moribund almost three years after Valley Metro Light Rail service started. At the opening celebration Mesa Mayor John Giles heralded it as "The Salvation Train" . . . We're still waiting.

Quite a few 'investors' have already jumped into the real estate market here in downtown Mesa throughout last year 2017, some 'making deals' with city officials in Memoranda of Understanding, InterGovernmental Agreements, and other developer agreements that to all representations made off-the-record are fully-funded. . . that's unusual to say the least when it usually takes years.

3 city-owned parcels where parking lots are used as land banks have been approved by the Mesa City Council following unsolicited developer proposals (or so they said) that may or may not involve certain 'incentives' of one kind or another, or some kind of tax relief.
8-10 other commercial properties on Main Street have changed hands to holding companies started by - or at least formed by him as the fall-guy - Bob Worley's Senate campaign manager Kent Lyons, CH Holdings LLC.
That much is on the public record. Other details don't get disclosed.

AZ Senator Bob Worsley, who used to work for the accounting firm Ernst & Young before "getting a calling" to run for election, holds a public office in the Arizona State where he's authored or supported bills and legislation that may benefit him personally outside-of-office as a real estate speculator - media reports say he's gambled $20 million dollars betting on making profits as a not-so-private developer.
He's come under criticism for his own brand of 'Croney-Capitalism' here in Mesa, working with revolving-door ex-U.S. Congressman Matt Salmon who was hired by ASU as VP for Affairs two years ago.
Worsley's plans for a 15-story $130-million dollar development built atop a less-than-one-acre parking lot on Drew Street appears on the cover of a mag produced by the Mesa Chamber of Commerce as a Stakeholders prospectus.