The Federal and State Opportunity Zone Programs are the two most utilized programs for commercial real estate developments of significance that get completed in Ohio. The transition from the original OZ framework to the newly enacted “OZ 2.0” is well underway and requires attention for any real estate professional who may play any role in […]
By: Michelle Jarboe, Crain’s Cleveland Enterprise Reporter, Real Estate and Economic Development “We’re seeing more interest in early-stage activity on the East Side of Cleveland now” said Mike Sikora, a Cleveland attorney who works with clients across the state. “And it is, in part at least, spurred or … benefiting from whether a particular property […]
Sikora Law has advocated for the passage of Senate Bill 225 for many months. The Bill would temporarily double the funds available in Ohio’s Opportunity Zone Program and Ohio’s Historic Tax Credit Program. Our firm drafted the Opportunity Zone language in that Bill. If passed, it would help mitigate construction cost increases with the incentive, and further improve the […]
Ohio’s Opportunity Zone Program received another boost thanks to Ohio’s Budget Bill that passed on June 30, 2021. The Budget Bill enacted several new initiatives and valuable enhancements to Ohio’s economic development incentive programs – one of which is Ohio’s Opportunity Zone Program. The first improvement to Ohio’s OZ Program includes an increase in the amount […]