2.55 acres with timber, unimproved adjacent to Riviera Center, Tanger Outlet Mall and OWA Amusement Park and Foley Sports and Athletic Fields. Property is adjacent to Cypress Cove to the north. Investment and development opportunity. Property is located in the Opportunity Zone. For Information about Baldwin County, Alabama Opportunity Zones established in 2017, visit Baldwin County online. The Opportunity Zones tax incentive was established by Congress in the 2017 Tax Cut and Jobs Act. The program provides an Innovative approach to spur long-term private sector investments in low-income urban and rural communities nationwide. This economic development initiative is based on the bipartisan? ?Investing in Opportunities Act?. It offers a frictionless way to ?reinvest capital gains? into distressed communities through Opportunity Funds, in exchange for a graduated series of incentives tied to long-term holdings. This program is the first new national community investment program in over 15 years, and has the potential to be the largest economic development program in the U.S.
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Listing information last updated on August 22nd, 2019 at 1:30pm CDT.