News

Brownfields Bulletin

March 6, 2020

IRS Publishes Final Opportunity Zone Regulations: Putting It All Together

The IRS released final regulations under Section 1400Z-2 that tie together many of the loose ends remaining after the publishing of two sets of proposed regulations, one in October 2018 and another in May 2019. This article will attempt to put it ALL together: the statute, the two proposed regulations, and last week’s final regulations.

Final Opportunity Zone Treasury Regulations Released

The U.S. Department of Treasury released the long-awaited final Opportunity Zone Treasury Regulations (the “Final Regulations”). The Final Regulations and explanatory materials that span 544 pages, are quite extensive and give some needed clarity into how the Opportunity Zone tax rules work. This client alert is intended to highlight just some of the changes and clarifications in the rules.

U.S. Department of Transportation Releases New Interactive Opportunity Zones Map

The U.S. Department of Transportation’s new interactive map provides information about the location and characteristics of significant transportation-related facilities that are located in or near Opportunity Zones.

Check out the PA Regulatory Update provided by Brickhouse Environmental Partner: David Farrington.

Michael, I am so pleased with the response time, and thoughtfulness of your effort and Brickhouse in general. I wasted a LOT of time with other environmental companies. I guess it’s never too late. I plan on working for another 20+ years. Both you and Doug have been fantastic.

Jack B.

Dave, Very solid and professional work Dave. Thank you for everything.

– Dan W.

Paul, Thanks for your excellent work and planning for this. Glad it is done!

– Phillip R.

Your field staff were awesome. Steve is especially sharp and communicates well with the client and attorneys.
The whole crew inspired confidence, and made a strong impression that Brickhouse is a quality outfit.

– Sam C. and Mark R.

Excellent job to all at Brickhouse! Yet another successful project, nice work! Thank you.

– Scott E.

The loan went through! Thanks for all that you have done for us, you did an amazing job!!!

– Pete S.

We officially sold the home. We thank you and appreciate what you have done to ease the transition. Your expertise is duly noted and it was nice working with you.

– Joseph P.

It was a pleasure working with you guys… I will definitely call again when we run into any environmental issues on our projects.

– Steven O.

You did an absolutely incredible job. I am so impressed by the level of detail in the report. Thank you so very much.

– David T.

Thanks Paul and company, great job.

– Richard B.

Your work has been excellent and I will be very happy to continue our relationship going forward.

– Gordon M.

Thanks for the status updates, I got out there as they were working on the newly uncovered well. Nice guys out there, personable and professional.

– Gary P.

Thank you very much for your assistance in my tank removal project. Your managers and field crew were a pleasure to work with.

– Chris M.

Thanks Michael, you did a fantastic job on this report, and made my life a lot easier.

– Brian B.

Thanks so much for your continued great work on this project. We are impressed with your work.

– Michael H.

Dave Farrington and Brickhouse have worked with Action Manufacturing Company as consultants on our Environmental projects with excellent results.

– Randy A.

I want to thank you and Brickhouse for your help throughout this process. I will recommend you to everyone that requires environmental services. Your company is truly professional. Thanks again.

– Tommy M.

Thanks Dave. Outstanding effort by you and your team in getting this done.

– Richard F.

I just heard from my colleagues in Philadelphia about the case. They had nothing but praise for the effort your firm contributed. Thanks for stepping up to this project at the last minute.

– John C.