Corning and Orland Opportunity Zone Prospectus

Opportunity Zones (OZ) are a federal program designed to spur community investment by providing tax benefits to investors who hold their investment five to ten years. (IRS Code Section 1400OZ).

• Deferral – capital gains invested in an OZ Fund do not need to be recognized when the investment is sold or exchanged or until December 31, 2026.

• Reduction – after holding an investment in an OZ Fund for seven years, the tax on the original capital gains is reduced by 15 percent.

• Exclusion – after holding an investment in the OZ Fund for at least ten years, disposition of the OZ investment does not result in additional federal income taxes.

Eligibility for the tax benefit requires the investment be made through a qualified Opportunity Fund―a privately managed investment vehicle organized specifically for and holding at least 90 percent of its assets in an Opportunity Zone.

Secondly, the investment must be derived from a gain in another investment and transferred into an Opportunity Fund within 180 days of realizing the gain.

 Check here  for more tax and Opportunity Zone information at the Federal level.

The State of California has an Opportunity Zone Toolkit linked  here 

One of the fastest growing cities along Interstate 5, the  City of Orland  is primarily a residential community with small town character. The City is becoming well recognized as the Queen Bee Capital of North America.

Orland is located in the northern Sacramento Valley, within Glenn County, along Interstate 5 and US99W, sixty miles south of Redding and 100 miles north of Sacramento. Black Butte Lake is eight miles west, nestled between the basalt buttes and stretches nearly seven miles up to Stony Creek. Chico, home of a California State University, is twenty miles to the east on State Route 32. The main campus of Butte-Glenn Community College is also located east, in Oroville, but its Glenn County Center is located in Orland. The county seat, Willows, is located 15 miles to the south.

The  City of Corning , California was incorporated in 1907 and provides a full range of municipal services including Police, Fire, Parks and Recreation, Library, Public Works and Municipal Airport. Located just 25 miles northwest of Chico and 17 miles south of Red Bluff, Corning is perhaps best known for its award-winning olive products.

Agriculture plays an important role in this rural community. Other important crops include almonds, walnuts and peaches, as well as cattle and sheep ranching.

Info on the site selection process.......

An overview map is provided below. Click on specific sites to access a detailed site assessment.