Michigan City Opportunity Zone Funds
On December 22, 2017, Congress adopted legislation including Qualified Opportunity Zones ("OZ's) as part of the Tax Cuts and Jobs Act, which provides for deferral of long-term capital gains tax and, in some cases, a significant step up in basis and elimination of long-term capital gains. This provision is projected to save investors $1.6 billion in capital gains taxes over the next 10 years — to say nothing of the exceptional returns that investors can make on well-advised investments. The OZ program offers investors three unique tax incentives for investing in projects located in OZ's. Generally speaking, these are:
1. Deferral of Capital Gains – The initial income taxes due on proceeds from current capital gains re-invested in OZ's can be deferred as long as until December 31, 2026.
2. Reduction of Capital Gains – after holding an investment in an OZ for seven years, the deferred capital gains taxes due is reduced by 15%.
3. No Capital Gains on OZ profits – after holding an investment in an OZ for 10 years, an investor’s disposition of an OZ investment does not result in any additional federal income capital gains taxes.
UDG provides OZ investors high quality, risk-adjusted OZ investment opportunities that leverage on our existing deal flow and track record. UDG, as a highly experienced developer/sponsor already operating in qualified OZ's, is a logical choice for investors with capital gains looking for quality OZ investments.
UDG believes that Michigan City, part of the larger Chicagoland MSA at the eastern edge of rapidly growing Northwest Indiana submarket, is poised for phenomenal near term growth. UDG began making individual investments in Michigan City in 2015, and while steering those initial investments to incredible success, has developed an even keener understanding of the micro and macro economics of the local market place.
Included in our initial Michigan City focus, we have multiple complimentary and strategic OZ projects requiring approximately $50,000,000 of investment.
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