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Updated: Nov 15, 2021

We'd like to give a special thanks to everyone who joined us in-person and virtually during the Cleveland Novogradac 2021 Fall Opportunity Zones Conference! CBUS OZ FUND President Chris Knoppe spoke as a panelist during the event along with other OZ experts. Tons of excellent knowledge was shared among the panelists, as well as during the post Q&A session. We look forward to sharing more about topics of Opportunity Zones, real estate, tax, legal, social impact, and governance.

Source Credit: Original article written by Opportunity Zone Expo Staff / published June 30, 2021

A Minnesota congressman has introduced legislation that would expand the federal Opportunity Zone (OZ) program by creating new zones and extending the tax deferral date by three years. If passed, U.S. Rep. Jim Hagedorn’s Expanding Opportunity Zones Act of 2021 would create an estimated 950 new OZs across the country, including 25 in Minnesota. The legislation would allow the U.S. Department of Treasury to reopen the low-income OZ designation process for 90 days to allow states to boost their OZ districts by an extra 5%, from 25% to 30%.

The tax deferral date — the signature incentive of the original OZ legislation, which was enacted during President Trump’s administration in 2017 — would be extended from Dec. 31, 2026, to Dec. 31, 2029.

Hagedorn, who represents a predominantly rural district south of Minneapolis-St. Paul, said he based his proposal off one floated in the city of North Mankato and Greater Mankato Growth, a regional chamber of commerce.

“Opportunity Zones have been a key to spurring workforce development, job creation and economic growth in communities,” Hagedorn said in a news release on June 25, the day he introduced his bill. “However, many areas across the country, including parts of Nicollet County, are not designated as Opportunity Zones despite being low-income areas that are adjacent to an existing Opportunity Zone. My legislation is aimed at promoting investment and development in places like North Mankato. Expanding Opportunity Zones will give countless Americans the chance to succeed and move our nation’s economy forward when we need it the most.” Bill could help previously overlooked areas become Opportunity Zones

Chris Knoppe, a Columbus, Ohio-based developer, is president of CBUS OZ Funds, a qualified opportunity fund (QOF).

He said expanding the number of OZs across the country would be beneficial to economic growth. Knoppe pointed to areas of the Columbus region “that seem like they should absolutely be designated as OZ, but they simply did not make the cut the first time around. Adding a few more zones now would provide a chance to include some previously overlooked census tracts and widen the intended impact to the communities that need it.”

Knoppe added that the tax deferral extension also “makes a lot of sense, because many would-be OZ investors were sidelined during the pandemic, reducing the overall adoption of the OZ program.”

Bill seems not ‘fully developed’, some OZ professionals say

Matthew Rappaport, a tax lawyer with New York-based Falcon Rappaport & Berkman PLLC, was less optimistic.

He said the Expanding Opportunity Zones Act of 2021 appears to be not “fully developed” — the legislation is only two pages — and because Hagedorn is a Republican, his position in the minority Congressional party won’t be an advantage toward getting it passed.

Rappaport added that the bill also “has to account for the idea that a Dec. 31, 2029, end to the deferral period would mean that taxpayers who invested prior to Dec. 31, 2019, get a tax-free sale prior to even recognizing deferred gain — that dog will not hunt. It’s tough to speculate on impact until we see something more fully formed.”

Source Credit: Original article written by Opportunity Zone Expo Staff / published June 30, 2021

Today (May 28th, 2021), Bizjournals announced its 40 honorees that were awarded the 40 Under 40 achievement for their extraordinary hard work and dedication to their careers, as well as their community efforts and impact. Chris Knoppe, New City Homes/CBUS OZ Funds partner, was honored as one of the awarded individuals. Below is the publication that shares each of the 40 honorees stories, and provides some context to how they earn their spot on Bizjournals; 40 Under 40.

Click for the full-length publication.

Detailed profiled (K-P)


1. CBUS OZ FUNDS Investor Overview Webinar

2. Alts Expo 2022

3. Conway Annual Awards Luncheon

4. OZ Pitch Day, November 2022

5. CBUS OZ FUNDS President Chris Knoppe Set To Speak at Opportunity Zone Expo Arizona

6. CBUS OZ FUNDS President Chris Knoppe to speak at the National Real Estate Strategies Summit sponsored OREIA

7. CBUS OZ FUNDS participates in OZ Pitch Day Summer 2022

8. 'Ohio approves bill to boost the state’s Opportunity Zone credits' Article Feature

9. CBUS OZ FUNDS Named Top 25 Fund Manager by

10. OZ DEEP DIVE On The Real Estate of Things Podcast

11. CBUS OZ Funds quoted in "Gain in Home Values in Opportunity Zones Encouraging" article

12. Cbus OZ Funds at the OREIA (Ohio Real Estate Investors Association) Annual Summit

13. Cbus OZ Fund III - OZ Pitch Day Fall 2021 presented by OpportunityDb

14. Cbus OZ Funds Interviewed on The Opportunity Zones Podcast: The Evolution of OZ Neighborhoods with Chris Knoppe

15. Cbus OZ Funds Featured on The Real Estate of Things Podcast

16. Novogradac 2021 Fall Opportunity Zone Conference

17. Bill aims to create 950 new Opportunity Zones nationwide

18. Cbus OZ Co-Founder Named 40 Under 40 Honoree by Columbus Business First

19. 2021 OZ Investment Update

20. Structuring an OZ Investment - 2020 Opportunity Zone Expo

21. Tax Free Investing Focus Group 

22. Real CBUS OZ Projects

23. Understanding Private Placement Memorandums(PPMs)

24. Pros & Cons of Opportunity Zone Investing

25. OZ Tax Reporting

26. Frequently Asked Questions for OZ Investing

27. How the Coronavirus Will Impact OZ Investing

28. CBUS OZ FUNDS partner featured in Columbus Underground

29. Inaugural OZ Networking Meetup: COZI (Columbus Opportunity Zone Investing)

30. CBUS OZ FUNDS Featured In Columbus Business First

31. Columbus Opportunity Zone Panel Discussion

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