Find Your GREATER Opportunity in St. Cloud!
Opportunity Zones are census tracts designated by state and federal governments for a new economic development initiative that will remain in place for ten years. The 2017 Tax Cut and Jobs Act created this incentive to direct investment into historically disadvantaged communities and neighborhoods. It provides tax benefits to holders of capital gains if they invest in designated zones.
There are more than 8,700 Opportunity Zones in the U.S. Minnesota has 128, three of which are in St. Cloud.
Where are St. Cloud’s Opportunity Zones?
County Zones
Benton County
Zone includes U.S. Highway 10 (24,000+ VPD) and MN Highway 23 (15,000+ VPD) BNSF Railway, east side of St. Cloud’s downtown (outlined in yellow above), and “Certified Shovel Ready” St. Cloud Airport Business Park. Click here for the St. Cloud Airport Business Park sell sheet. This zone offers commercial/residential investment opportunity in three catalyst redevelopment sites featured in the "2019 East End Vision", industrial investment opportunity in the St. Cloud Airport Business Park, and commercial investment opportunity along the U.S. Highway 10 and MN Highway 23 corridors. Click here for more information about the 2019 East End Vision.
Sherburne County
Zone includes U.S. Highway 10 (25,000+ VPD), BNSF Railway, and St. Benedicts Senior Community. This zone offers investment opportunity in affordable housing and commercial and industrial investment along the U.S. Highway 10 corridor. Click here for the Comprehensive Housing Needs Analysis for Sherburne County, MN.
Stearns County
Zone includes MN Highway 23 (32,000+ VPD), west side of St. Cloud’s downtown (outlined in yellow above), River’s Edge Convention Center, and St. Cloud State University (daily population of 14,000+ students). This zone offers investment opportunity in multiple catalyst sites for office and hotel development (shown in black stars above) as identified in the City’s 2016 Comprehensive Plan. Click here for the Lady Slipper Lot Catalyst Site. Click here for the North Downtown Riverfront Catalyst Site.
What is an Opportunity Fund?
Opportunity Funds are investment vehicles organized as a corporation or a partnership for investing in Opportunity Zone projects or sites. Investments must be made through a qualified Opportunity Fund to qualify for these incentives.
Why Invest in Opportunity Funds?
- Defer payment of capital gains until December 31, 2026.
- Reduce owed tax by up to 15% after seven years.
- Pay zero tax on gains earned from the Opportunity Fund investment.
