OZ Fund, LP (“OZFund”) is a community-focused Qualified Opportunity Fund (QOF) with plans to acquire distressed properties located in the Opportunity Zones of Lancaster, PA and York, PA. These properties will be redeveloped into affordable rental housing and commercial space.
By investing in the OZFund, Investors can defer or eliminate taxes while at the same time helping our distressed communities flourish.
According to the IRS: “Opportunity Zones are designed to spur economic development by providing tax benefits to investors.
- First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15.
- Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.
A Qualified Opportunity Fund makes investments in an Opportunity Zone (OZ). An OZ is a specially created geographic district that grant investors tax breaks for making investments in the Fund - including tax-free income.
The OZFund provides a path for investors to support local communities that has never been available until now, and seeks to encourage investors to support low-income communities by investing in OZFund.
For its first project, OZFund has acquired a large property located on South Queen Street, Lancaster, Pennsylvania, an Opportunity Zone. The property will be developed into about 64 affordable apartments and 10,000 sf of commercial space, including a daycare center.
The purpose of investing in a Qualified Opportunity Fund such as the OZFund, is to transform distressed neighborhoods into thriving economic hubs.
A unique feature of the OZFund is that it may opportunistically make equity investments into some of the businesses that lease space from the Fund. This is a unique return enhancer that has the potential to deliver significantly higher returns for investors than other affordable housing-focused funds.
Investing in the OZFund
Invest in the OZFund and, subject to the US Treasury Regulations, enjoy significant tax breaks:
- Investors may reinvest capital gains from existing investments into the OZFund and defer/reduce capital gains taxes.
- Investors can invest in the OZFund and if holding the investment for 10 years, investors permanently eliminate gains from the appreciation of their investment.
How to Invest
Investors may subscribe for Limited Partner Units in the OZFund, by requesting a copy of the Partnership Agreement and a Subscription Agreement from the OZFund.
Once completed, the Subscription Agreement should be delivered to the OZFund at the address set forth on the cover page of the Memorandum.
The Subscription Agreement will contain information concerning the investor's status as an Accredited Investor under Regulation D under the 1933 Securities Act.
Investor Contact Information
Jeremy P Feakins
Founder and Chief Executive Officer
c/o JPF Venture Group, Inc. (General Partner)
800 South Queen Street
Lancaster, Pennsylvania 17603
Mobile: (917) 679 2005