News Flash

City of Nampa

Posted on: December 12, 2018

North Nampa's Opportunity Zone

Nampa_Opportunity_Zone_map_horizontal

The White House hosted a nationwide conference call this morning ahead of President Trump signing the Executive Order on Opportunity Zones. Nampa Mayor Debbie Kling participated on the call and would like to remind the investment community of North Nampa’s Opportunity Zone.

Opportunity Zones are defined by the IRS as “an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment." Earlier this year, Governor Otter named North Nampa one of Idaho’s 28 Opportunity Zones.

Opportunity Zones are a new economic development tool which provides tax incentives for investors to develop in targeted areas. The tax benefits include deferring and reducing capital gains on a sliding scale based on length of time the property is held. Tax incentives are outlined on the IRS website.

Economic & Community Development Director Beth Ineck said, “North Nampa is one of our oldest neighborhoods and has not seen significant investment activity for many years. Designating North Nampa as an Opportunity Zone provides investors an opportunity to offset floodway related costs and potential challenges associated with older structures.”

For more information on Opportunity Funds currently being established, or other questions about North Nampa’s Opportunity Zone, please contact Beth Ineck at (208) 468-5488 or email ineckb@cityofnampa.us

Helpful Links:

IRS FAQs on Opportunity Zones: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions

Idaho Department of Commerce October 3, 2018 Opportunity Zone presentation: https://commerce.idaho.gov/content/uploads/2018/10/OZ-Handout.pdf


Nampa_Opportunity_Zone_map_horizontal

Facebook Twitter Email

Other News in City of Nampa

Racine, Doug-2

City of Nampa hires new Finance Director

Posted on: February 12, 2019
Kling headshot credit Tobin Rogers

Nampa's State of City will be March 20

Posted on: January 25, 2019
Christmas Lights Tour 2018

Take a Christmas Lights Tour in Nampa

Posted on: December 5, 2018
Nampa Library

Nampa Public Library Food for Fines

Posted on: November 28, 2018
City of Nampa

City of Nampa Comprehensive Plan Update

Posted on: October 16, 2018
City of Nampa

Statement from City of Nampa Legal Counsel

Posted on: September 25, 2018
Pooch Party 2018_eflyer

11th Annual Pooch Party Stroll & Splash

Posted on: August 16, 2018
City of Nampa

Mayor Kling expresses condolences

Posted on: June 11, 2018
Spring Kickoff 2018_eflyer

Nampa Rec Center’s Spring Kickoff

Posted on: April 13, 2018