With a Qualified Opportunity Zone Fund, which can include partnerships, corporations, and LLCs, there are a variety of static and dynamic methodologies with no required exit until 2047. The IRS has offered a great deal of latitude initially by providing that a qualified opportunity zone fund can be self-certified and after six months should be 90 percent invested in the property. For businesses, the threshold is a bit different, in that an opportunity zone business must keep tangible property onsite and have 70 percent of assets in the zone. Adding to the fun, the IRS will allow an opportunity zone fund to invest in both properties and businesses with the 90 percent threshold in place for the fund. A 1031 Exchange, with its extensive limitations of timeframes, intent to sell/ purchase, and restrictions on like-kind properties are thrown to the wind in 1400Z. If you sold a fortune in stock, combined that with profits from the sale of that corner-highway lot, and rolled it into a qualified opportunity zone fund that was investing in a low-income housing project or a pizza business or small manufacturing plant- or even all three together-that is perfectly fine. “It’s not a healthy thing to have socioeconomic divide where lower-income people have to live outside of town to serve higher-income people in town.” The opportunity zone could help communities overcome the workforce housing cost obstacles. Those communities will need to have plans in place and developers had better know the lay of the land, zoning and all, before funding their qualified opportunity zone fund, and its underlying qualified opportunity zone business.