Opportunity Zone Program Updates
COMPLIMENTARY LIVE WEBCAST
Thursday, May 31, 2018
2:00 - 3:30 PM EDT
Panel discussion moderated by host Vinnie Viola with special guests Richard Price, Partner at Nixon Peabody, LLP and Rachel Reilly, Director, Impact Investing at Enterprise Community Partners. Part of the tax legislation enacted in December 2017, learn about The Investing in Opportunity Act and Opportunity Zones, a new community investment tool designed to drive long-term capital to rural and low-income urban areas throughout the nation.
- Overview of Opportunity Zones
- What We Know and Don’t Know Today
- Opportunity Zones Approved by US Treasury
- Expectations from Rulemaking Process with US Treasury
- Thoughts on Timeline to Project Funds Disbursement
- Tools & Resources for Industry Stakeholders
About the Presenters
Rachel Reilly, Director of Impact Investing at Enterprise Community Partners (ECP), leads the company's Community Impact Note program, a $100 MM private debt offering that provides retail, accredited, and institutional investors an opportunity to earn a return while investing in their community. She is responsible for business development, impact articulation, client retention, and new initiatives. Rachel also direct ECP's efforts to develop and advocate for public policies that expand private investment in distressed communities. Currently, Rachel leads a portfolio of cross-organization work pertaining to the Opportunity Zones Program, as well as advocating for annual appropriations and reauthorizations for community development resources.
Richard Michael Price, Partner at Nixon Peabody, LLP, focuses on real estate finance and regulation, affordable and rural housing and community development, government contracts, administrative law and legislation. He assists for-profit and nonprofit businesses and government agencies. He is editor-in-chief of Nixon Peabody’s Affordable Housing and Community Development blog. As a transactional attorney, Richard closes transactions financed through complex commercial financing and federal and state financing programs, including multifamily mortgage loans, tax credit equity and tax-exempt bond proceeds. As a regulatory attorney, he assists clients with a broad array of approvals including mortgage assignments and property transfers. He also represents parties in fair housing, lead-based paint and RESPA compliance. He defends clients before HUD, USDA and federal courts concerning suspensions, civil money penalties, debarments and non-procurement and procurement contracts. Richard builds on experience as a trial attorney in the Office of General Counsel at the U.S. Department of Housing and Urban Development for this work. Lastly, he is often involved with advocacy on new housing legislation. Richard enjoys writing and speaking about new issues affecting housing, administrative law, finance and real estate, including the Opportunity Zone Program.
Vinnie Viola, MPA, HCCP, is Principal and Founder of Birch Island Real Estate Consulting, LLC. His company provides asset management consulting services and live and web-based trainings to owners, developers, operators and investors of multifamily housing funded with Low-Income Housing Tax Credit (LIHTC) equity. With 25 years' broad experience, Vinnie has worked in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. His career includes ten years in various leadership roles at Boston Financial Investment Management and Boston Capital, through which he gained expertise with asset management best practices and IRS' Section 42 program. Vinnie has asset managed thousands of affordable rental units in hundreds of investment partnerships, comprising nearly $1 billion in investor contributed equity. He earned a Bachelor of Arts in Geography from the University of Massachusetts Boston and a Master of Public Affairs from the University of Texas at Dallas. He is an active member of NH & RA's Asset Management Council, a unique peer network that convenes affordable housing executives from multifamily development firms as well as syndicators, tax credit investors and lenders, to develop operational best practices. From 2013-2017, Vinnie served on National Association of Home Builder's Housing Credit Certified Professional (HCCP) Board of Governors and chaired the board's Professional Development subcommittee.