The Epic Community Impact Fund, in conjunction with Virtua Partners, recently held a gathering with real estate investors, private equity managers, venture capitalists, financial institutions, wealth advisors, real estate agents, foundations, corporations, developers, attorneys CPAs, community organizations and other investors with capital gains looking for real estate investment opportunities. The event, held at EpiCity’s headquarters in Armour Junction, centered around the new Opportunity Zones Fund investing, giving an overview of the program, as well as information on the Epic Opportunity Zone Fund, LP, and the Epic Minority Developer Impact Initiative.
As part of the recent tax reform legislation, Congress created a new program to incentivize private investment in certain low-income communities. The program allows taxpayers to defer and reduce the recognition of capital gain if the taxpayer reinvests all or a portion of the capital gain proceeds in a “Qualified Opportunity Fund”. Topics of discussion included tax incentives, capital gains investments, tax free investment appreciation, real estate investment opportunity, and Georgia’s target Opportunity Zones.
“I left this event feeling good about how far the Opportunity Zones Fund investing has come along,” said Andre Hubbard, Vice President of Community Lending & Investment for Wells Fargo. “It was an informative session, and the way it was presented was passionate and engaging. Working in affordable housing, this was a great way for me to quickly learn about what’s going on in Georgia.”
Jerry McGaughy of the Epic Community Impact Fund, hosted the event. The Epic Community Impact Fund, LLC, an affiliate of Epic Partners, is a certified Community Development Entity (CDE) with the Department of Treasury’s Community Development Financial Institution (CDFI) Fund that provide debt and/or equity investment for real estate projects and small businesses development located in low-to-moderate income communities throughout metro Atlanta.
One program of the Epic Community Impact Fund is the Epic Minority & Women Developer Impact Initiative to assist minority and women developers with participating in Atlanta’s community revitalization effort by providing them with flexible capital, one-on-one mentorship from Epic Partners and other local experts, and formalized training to support real estate companies they own and operate.
For more information about the Epic Community Impact Fund and its programs, please visit http://epicimpactfund.com/. If you are interested in attending the next event, please email Jerry at jerry@epicimpactfund.com.