RevOZ Capital Speaker Series - Opportunity Zones in Action with Chris Cox, Former SEC Chairman & RevOZ Advisor
RevOZ Capital Speaker Series - Opportunity Zones in Action
Guest Speaker: Chris Cox, Former SEC Chairman & RevOZ Advisor
Audience: CLA Accounting and Investment Professionals
Date: July 9, 2020
On July 9, 2020, executives from RevOZ Capital and advisory board member and former SEC Chairman, Chris Cox, hosted a Zoom discussion with executives from CliftonLarsenAllen LLP (CLA), a leading national accounting and wealth advisory firm, and its internal network of accountants and wealth advisors. The discussion focused on Opportunity Zones investing, related tax advantages for investors with capital gains, and the potential to drive positive community impact.
During the call, representatives from CLA set the stage and discussed the Opportunity Zones program in action and highlighted internal efforts to educate clients on the recent OZ regulatory changes and benefits of the program which include the option to defer, reduce and eliminate taxes on capital gains.
Former SEC Chairman, Chris Cox, followed with insights and perspective from Washington, DC as it relates to bipartisan support of the 2017 Tax Cuts Jobs Act, under which the Opportunity Zones bill was enacted. Cox reiterated the program’s ability to allow investors to “do well by doing good.” In short, Cox believes the Opportunity Zones program is one of the greatest examples of sound, bipartisan government policy which not only incentivizes investors but benefits underserved communities by attracting much needed capital for revitalization projects.
Alex Bhathal, founding Principal of RevOZ Capital, followed Cox with a brief overview of his family’s deep history in real estate as investors and developers, the motivation and inspiration behind the firm’s focus on Opportunity Zones, a case study on the ~$1B downtown Sacramento revitalization project as part of the NBA franchise purchase of the Kings, and a review of the firm’s current portfolio comprised of several pre-identified Opportunity Zone projects located in diverse and growing markets across the U.S. with the potential for long-term value appreciation.
