Opportunity Zones encourage investors to re-invest their capital gains into underserved areas for long-term community building – with 14 zones located in Montgomery County. Private sector ‘Opportunity Funds’ provide investors the chance to use needed capital to rebuild select census tract areas. A broad array of investors can work together to pool resources, encourage new development and help re-energize underserved communities.

(White Oak is one of the 14 Opportunity Zones in MoCo)

opportunity Zone Workshop

Montgomery County Economic Development Corporation and the Federal Reserve Bank of Richmond presented an Opportunity Zone Workshop February 5th at the AFI Silver Theatre and Cultural Center. Attendees learned more about the benefits derived from Opportunity Zones and complementing legislation from leading national experts along with County and State officials. The day also included tours of OZs and a chance to know more about potential investment projects.

VIEW AGENDA

Learn from the experts by accessing links from the sessions:

Think Opportunity: Morning Session replay of MCEDC’s  February 5th Workshop - Live Stream with time stamping below:

Morning Presentations:

• Opening Remarks, Mark Elrich, Montgomery County Executive (00:03:34)

• Twinbrook Quarter, Todd Pearson, B. F. Saul Company (00:09:58)

• Viva White Oak Morning, Jon Genn, PERCONTEE, INC. & Global LifeSci Development Corporation (00:24:02)

• PIC MC Opportunity Zone, Martha Schoonmaker, Pinkney Innovation Complex for Science & Technology at Montgomery College (00:50:42)

• Lakeforest Mall, Tom Lonergan, City of Gaithersburg (01:11:50)

Think Opportunity: Afternoon Session replay of MCEDC’s February 5th Workshop – Live Stream with time stamping below:

Afternoon Presentations:

• Afternoon Opening Remarks, David Petr, President & CEO of Montgomery County Economic Development Corporation (00:01:48)

• Opportunity Zones Intro, Jeanne Bonds, Regional Community Development at Federal Reserve Bank of Richmond (00:03:30)

• Opportunity Zones, Gregory Clements, Novogradac & Company LLP (00:04:37)

• Innovation, Jeanne Bonds, Regional Community Development at Federal Reserve Bank of Richmond (00:20:11)

• Enterprise Community Opportunity Funds, Rob Bachmann, Enterprise Community Partners, Inc. (00:35:54)

• Opportunity Zones National Expert Panel (00:49:30)

• Maryland’s Opportunity Zone Initiative and Developing in Montgomery County Intro (01:33:40)

• Maryland Opp Zones, Frank Dickson, Maryland Department of Housing & Community Development (01:34:30)

• OZ Workshop Excellence, Gwen Wright, Montgomery County Planning Department (01:53:01)

• Opportunity Zone How We Can Help You, Diane Schwartz Jones, Montgomery County Department of Permitting Services (02:13:39)

• CoStar, Dan Williams, CoStar Group (02:51:00)

• Closing Remarks (02:59:00)

MOCO OPPORTUNITY ZONES

To see the areas that are designated as Opportunity Zones in Montgomery County, check out the Overview Map.

Silver Spring Central Business District (2 areas): overlaps with a Maryland Arts and Entertainment District and is home of United therapeutics, the National Oceanic and Atmospheric Administration (NOAA) and part of the future Purple Line route.

Wheaton Central Business District: Overlaps with a Maryland Enterprise Zone and a Maryland Arts and Entertainment District.

White Oak (2 areas): Home of the Food and Drug Administration (FDA) and Viva White Oak.

Germantown: Hub for Montgomery College’s Pickney Innovation Complex and a future Maryland Rise Zone.

Montgomery Village: Planned community conceptualized in the 1960s. It includes Montgomery Village Center Revitalization to transform a suburban shopping center into mixed use development.

Gaithersburg (3 select areas east of I-270)

Long Branch and Takoma Park (3 select areas east of Silver Spring): Along the future Purple Line Corridor which overlaps with a Maryland Enterprise Zone

Rockville Pike: Section between Rockville Town Square and White Flint

how does opportunity zone funding work?

An Opportunity Fund is an investment vehicle, created as part of the Tax Cuts and Jobs Act of 2017, to provide incentive investment in targeted Opportunity Zones. For example, an investor who has a capital gain by selling an asset can receive special tax benefits. If the investor rolls that gain into an Opportunity Fund, the investor can:

• Defer the payment of the capital gain until Dec. 31, 2026

• Reduce the tax owed by up to 15% after 7 years

• Pay zero tax on gains earned from the Opportunity Fund

maryland oz information exchange

The Maryland Information Exchange lists particular properties currently available in Opportunity Zones across Maryland. In Montgomery County, the opportunities span from Viva White Oak and PIC MC to areas in Gaithersburg and Silver Spring. In addition, the exchange will serve as a virtual space for investors, fund managers, property developers and local stakeholders to get updates and learn more.

Access the Information Exchange to find available properties.

Opportunity Zone Story Maps

To learn more about Opportunity Zones in Montgomery County while seeing how investors and communities can benefit, go to the Opportunity Zone Narrative Data Map.