2019 Opportunity Zones Summit
April 17 • 8:00 AM - 12:00 PM
Golden Valley Country Club
7001 Golden Valley Rd
Golden Valley, MN 55427
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Time: 8:00 AM - 12:00 PM
7:55 am Welcome and Introduction
Jeff Johnson, Publisher, Minnesota Real Estate Journal
Emcee: Todd Taylor, CEO, Avisen Legal, P.A.
8:00 am Opportunity Zones Location Overview
Moderator: Elaine Rasmussen, CEO, Social Impact Strategies Group
Susan Hammel, CEO, Cogent Consulting
Terri Thao, Program Director, Nexus Community Partners
Karen Przypyszny, Managing Director, National Equity Fund
• Opportunity Zones 101 – what is it and what is the impact to the real estate community
• Locations of Opportunity Zones in MN / Metro Area
• How were the Minnesota Opportunity Zones selected?
• Other economic development opportunities in Opportunity Zones
• Social Impact Investing Through Opportunity Zones
• Opportunity Zones as a Tool to Provide Affordable Housing
8:40 am Real Estate Opportunities in Opportunity Zones
Moderator: Jamie Stolpestad, Managing Partner, Minnesota Opportunity Zone Advisors
John McCarthy, Senior Managing Director, Newmark Knight Frank
Dave Higgins, Vice President, Development, McGough Companies
Brian Forcier, President, Titanium Partners
• How existing property owners in Opportunity Zones can participate
• The role of commercial real estate brokers in Opportunity Zones
• Opportunities in Office and Industrial
• Opportunities in Housing and Hospitality
• Real Estate Development vs Rehab opportunities
• Investing in Opportunity Zone Based Businesses - How Opportunity Zone Rules can help your tenants
9:25 am Legal and Accounting Considerations
Moderator: Jim Lockhart, Partner, Wipfli
Dannielle Lewis, Tax Manager, Wipfli
Lisa Holter Ankel, Shareholder, Avisen Legal, P.A.
Larry Fox, Shareholder, Avisen Legal, P.A.
• What is the timing involved in an Opportunity Zone deal?
• 70/30 “substantially all” test
• Governing documents of Opportunity Fund
• Risk Factors to consider
• Legal timeline and Exit Strategies
• Can I do this on my own or do I need to invest in / create a Fund?
10:10 am Break
10:25 am Starting or Managing an Opportunity Fund / Fund Qualifications / Funding a Deal
Moderator: Scott Smith, President, Fact Right
Tom Windram, Partner, Washington National Tax, RSM US LLP
Michael Morrell, Senior Vice President, Sunrise Banks
Phil Colton, Shareholder, Winthrop & Weinstine
• How to become an Opportunity Zone Fund Sponsor
• Single Asset funds vs Blind Pool funds
• Financing Single Asset Opportunity Zone Opportunities
• Construction vs Permanent Loan considerations
• Equity sources for Opportunity Funds
• LTV considerations
• Recourse vs Non-recourse considerations
11:10 am Investing in Opportunity Zone Fund or Property – Investor Considerations
Moderator: Jeff Peterson, President, Commercial Partners Exchange Company
Tony Hallada, Managing Principal, CLA Wealth Advisors
Duane Lund, CEO, NAI Legacy
Zachary Robins, Attorney, Messerli | Kramer
Brad Heitzinger, Special Counsel Attorney, Gray Plant Mooty
Brian T. Duren, CPA, MBT , Director, Real Estate, CliftonLarsonAllen LLP
• What are the tax benefits of investing?
• What types of investment can I make?
• How does this compare to 1031?
• Can I still do a 1031 Exchange?
• How long do I have to keep my money in?
• Are there timing rules I have to keep track of?
• Risk Factors to consider
• Opportunity Zone Due Diligence and Representations
12:00 pm Adjourn and Networking