22 May 2018

IMHO: The Times Media Group = News With A Slant To The Deal Makers

In the interest of a more robust public discourse, this brings to your attention a Guest Opinion Piece published on May 20,2018 in The West Mesa Edition of The East Valley Tribune. 
"The Opportunity Zone is a 'rare gift'
by Jordan Rose and Jim Belfiore
It's a rare gift handed-out to a local independent report when the two PR Hounds go on say about a compelling new tool to promote investment in the second paragraph: " . . .The law provides for a reduction or total waiver of capital gains tax if an investment is made into an O Zone location. . ."     'O Zone' huh? funny enough for sure
Let's clear the air out of this public relations pollution with some well-intentioned good blow-back.
First: Disclosure
These two Guest Opinion writers are deep into deal-making. It's their business and how they make money:
". . . In just the month since the federal government approved Gov. Doug Ducey's suggested sites, we have collectively advised a wide variety of people and corporations on how to fully use this new (and really fantastic) tool) . . . "
Here's what they say about the O Zone:
"The O Zone promotes investments in assets like commercial property and land - pumping some serious oxygen and opportunity into the Arizona market that didn't exist a week and a half ago . . ."

Jordan Rose is the president of the Rose Law Group
Jim Belfiore is president of Belfiore Real Estate Consulting

". . . So,  you can see this is really compelling for anyone who has assets they might sell for a gain . . . it becomes a bit more involved than the land holding option. . ." 
_______________________________________________________________
QUESTION: What about everyone else?
We talk about major capital investment, but little about investment in a city’s people.
Here in Mesa that matters:  
> It’s time to change the collective understanding of what we call “economic development.”
It’s time to permanently attach the words “inclusive” and “equitable” to the very framework of economic development.
Two Words Are Missing From the Economic Development Conversation
_______________________________________________________________
Your MesaZona blogger is inspired by this Op-Ed from https://nextcity.org
_______________________________________________________________
So what do we do?
". . . Ultimately, it comes down to who and what we value as legitimate participants in a city’s economy, and what we value as its lifeline.
What catalyzes robust city life?
Is it merely down to the numbers, the amount of financial investment it can attract? Or is it about its people?  

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