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Dear Len,

Earlier this week, United States Secretary of Education, Betsy DeVos, announced nearly $100 million in grants awarded to school districts, colleges, universities, and nonprofits that elevate and empower teachers. Many of the grants are going toward funding projects located in Opportunity Zones. 

13 grants totaling $63.6 million—allocated for the Teacher and School Leader Initiative Program—overlap with a Qualified Opportunity Zone. Additionally, 10 grants were awarded to colleges and universities, located within Opportunity Zones, through the Teacher Quality Partnership Program.
More information on these grants can be found here
Thank you to those who sent in an Opportunity Zone tip over the last couple of weeks. This edition of the Opportunity Zone Outlook highlights an exciting Opportunity Zone investment in an operating company submitted by one of our weekly readers. Read about that and more below.
If you would like to share an Opportunity Zone deal, development, or question, please respond to this email. 

Jill Homan
President, Javelin 19

IRS Considers Changes to Opportunity Zone Tax Incentive Making it Easier for Foreign Investors

The final Opportunity Zone regulations included provisions addressing foreign investors’ eligibility in taking advantage of the tax incentive. According to the White House Office of Management and Budget, new regulations could be released as soon as December. Though foreign investors are not currently excluded from participating in Opportunity Zone projects, there is uncertainty over how they would be taxed, something the new changes would address.

Exclusive News: Verte Opportunity Fund Closes Investment in Full-Service Animation Studio in Baltimore, Maryland Opportunity Zone

Verte Opportunity Fund has made another investment in a company within a Baltimore Opportunity Zone. Verte invested in the Outlook Company, a full-service production, animation, and content company. As the first studio of its kind in the region and one of two minority-owned animation studios in the U.S., the Outlook Company plans to hire local animators and actors with the hopes of sparking economic growth. The Outlook Company has been rapidly expanding under the leadership of co-founder Trevor Pryce, a former 14-year NFL All-Pro defensive lineman. Trevor has been pursuing his passions in music, film, and writing since his days in the NFL, and recently had the chance to serve as creator and executive producer for two Netflix series. 

Congratulations to reader, Verte Opportunity Fund CEO, Leondard Mills! 

Exclusive News: YWCA Anchoring Opportunity Zone Project in Baton Rouge


A once underutilized property is being transformed into a three story building for commercial space and 30 apartments, 51% of which will be affordable to residents earning less than 80% of Area Median Income. YWCA Baton Rouge has pre-leased space for a child care center in a Baton Rouge Opportunity Zone that over time will serve 160 children. Planning on this project has been ongoing since 2019 and construction is planned to reach completion in 2022.

US Corrugated plans $80M "Super Plant," Expected To Create 150 Jobs in Dover, Delaware Opportunity Zone

U.S. Corrugated plans to build an approximately $80 million corrugated cardboard box manufacturing plant near Dover, while relocating its longstanding New Jersey operations to Delaware as well. The 497,000-square-foot “super plant” is projected to break ground in November.
Corrugated founder and chairman of the board, Dennis Mehiel, highlighted the critical importance of the Delaware site’s location in an Opportunity Zone in their location decision. “It was an enormous advantage over the alternative site we selected in Southeast New Jersey,” Mehiel said. “In New Jersey, we had a Brownfield site, and what the state was offering was about $12 million to $14 million more in incentives than what Delaware offered. But the opportunity to take the pre-tax gains and roll it in a qualified Opportunity Fund was too great to not invest in Delaware.”
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Javelin 19 Investments is focused on making strong risk adjusted investments with best-in-class partners in Opportunity Zones and providing the highest quality Opportunity Zone advisory services to real estate investors, developers, and companies throughout the United States. 
Copyright © 2020 Javelin 19, All rights reserved.

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