City of Mesa needs to update the information and data.
Just uploaded today 15 Jan 2020 - all the sites were last updated in November 2019 last year . . .
Readers of this blog KNOW that New Guidelines and New Reporting Requirements were issued by The Internal Revenue Service and The U.S. Department of The Treasure in effect by December 31, 2019
TODAY IS THE DEADLINE FOR PUBLIC COMMENTS
1. Falcon Field
Then the First P: Public = City of Mesa (23-acre project)
Next the Second P: Private =
Davcon Aviation, LLC and
Mesa Hangar, LLC
will construct the phased project, which is the first Opportunity Zone project at the Airport.
Now the Third: Partnership
Some details provided in The Public Notice:
> The first phase is expected to be completed by April 2021, with the second phase to be completed by November 2021.
> The site is zoned L-1, and the hangars will feature an S-1 occupancy type for possible uses including
- aircraft storage and maintenance
- light aviation manufacturing and assembly
- helicopter operations.
> The 23-acre, 6-building, $65 million development will include more than 375,000 SF of hangars in addition to ancillary office space, aircraft staging ramp, and vehicle parking areas. Hangars will range from 3,600 square feet to 14,400 square feet with high ceilings and high, wide, motorized doors to accommodate corporate jets and specialized fixed-wing and helicopter uses. Clients can customize their energy-efficient hangars with a menu of energy-saving amenities as well as additional space and power.
Falcon Field Airport is the hub of Mesa’s Falcon Business District.
It is in an Opportunity Zone designated by the U.S. Treasury Department to spur investment.
Emerging companies as well as investors can participate in the program.
Tenants may fund improvements or other capital needs in leased space with proceeds from an Opportunity Zone investment.
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08 January 2020
REMINDER: Public Comment Period For Proposed 23-acre Davcon/Mesa Hangar Development @ Falcon Field Ends on January 15, 2020
The City of Mesa, Arizona, owner and operator of the Falcon Field Airport, has signed a Master Tenant lease with a private developer who proposes to construct a hangar development area commonly referred to as the Davcon/Mesa Hangar Development.
The Proposed Action would develop approximately 23 acres located in the northwest quadrant of the Airport. The Development would include the construction of aircraft hangars, office space, and potential aircraft manufacturing space.
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OVERVIEW
Source: Mesa Opportunity Zone Investment Prospectus
The Opportunity Zones program is a federal program designed to spur community investment by providing tax benefits to investors. The City of Mesa has 11 census tracts that have been designated Opportunity Zones by the U.S. Department of the Treasury. The map below highlights these tracts within the city boundaries.
The designated census tracts are classified as "low-income, distressed and neglected"
Downtown Mesa has the highest concentrations in 6 Census Tracts you can see below
Gateway has 3 Census Tracts
Falcon District has 1 Census Tract
1. Downtown Mesa
2. Fiesta District
3. Falcon District
4. Gateway Area.
The Aerial Mesa tool showcases what makes each district an ideal place to locate and grow a business, including the location of Opportunity Zones, Major Employers and Assets, New Development and Investments, and Development Opportunities.
To have a qualified investment in an Opportunity Zone eligible for the tax incentives two qualifications must be met:
- The investment must be made via a Qualified Opportunity Fund. An Opportunity Fund is a privately managed investment vehicle organized as a corporation or a partnership for the purpose of investing in qualified Opportunity Zone Businesses. The fund must hold at least 90 percent of its assets in such property.
- The investment must be derived from a gain in another investment and transferred into an Opportunity Fund within 180 days of realizing the gain.
To visit the Aerial Mesa tool and explore Mesa’s Opportunity Zones visit the links below.
- Downtown Mesa
- Riverview District
- Fiesta District
- Falcon District
- Gateway Area North (Elliot Road Technology Corridor)
- Gateway Area South (Pecos Zone, Gateway Airport)
GATEWAY NORTH Last Update November 2019
ELLIOT ROAD TECH CORRIDOR
Source: https://www.aerialsphere.com/spheres/_clients/city-of-mesa/gateway-north/
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GATEWAY SOUTH Last Update November 2019
PECOS ZONE, GATEWAY AIRPORT
Source: https://aerialsphere.com/spheres/_clients/city-of-mesa/gateway-south/
