JMA Ventures LLC | Opportunity Zones Webinar: In Depth Discussion for Investors and Advisors
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Opportunity Zones Webinar: In Depth Discussion for Investors and Advisors

Date: November 29, 2018
Time: 2:00 – 3:30 p.m. PST
Location: webinar link to be emailed to registrants
Cost: webinar is free

Join JMA Ventures and several expert panelists in a webinar discussion regarding the details of the recent Opportunity Zone legislation and the Treasury and IRS’s Proposed Regulations, including treatment of debt, depreciation, returns, reinvestment, basis, and fund life. In this webinar, Todd Chapman, President & CEO of JMA Ventures, will discuss JMA’s recently closed Opportunity Fund and JMA’s acquisition of 1.5 city blocks to the Chase Stadium in downtown Phoenix, and development of a 278-unit Class A multi-family complex.

A panel of specialists will discuss the current state of the Opportunity Zone program, explore the Treasury’s recently published Proposed Regulations, and answer questions about how investors can conservatively navigate statutory and regulatory ambiguities.

Specific Topics:

• Is it safe for investors to invest in Opportunity Zones, and what pitfalls remain?
• What are the most frequently asked questions posed by investors and advisors, and what answers are available?
• What steps must an investor take to qualify for the benefits of the Opportunity Zone program?
• How will distributions and depreciation be applied to the limited partners of an Opportunity Fund?
• What do the Proposed Regulations say about taxation of partners after sale of an asset held by the Opportunity Fund, reinvestment, and reinvestment timeline?
• How can a fund navigate capital deployment requirements?
• How is raising capital different for projects in Opportunity Zones?
• What steps has JMA taken to conservatively navigate ambiguities in the Opportunity Zone program?
• What challenges exist for individual investors seeking to create their own opportunity zone fund to invest alongside other funds?


Todd Chapman
President & CEO, JMA Ventures, LLC
Bringing a wealth of experience in real estate acquisition, development, leasing and financing, Todd has overseen over $2 billion in real estate throughout his career. With a degree from Santa Clara as a Juris Doctorate, Todd is a passionate deal maker at heart and is inspired by structuring joint ventures and complex business deals that take him to the places he loves. Prior to joining the JMA team, Todd practiced law at Orrick, Herrington & Sutcliffe along with Allen Matkins Leck Gamble & Mallory. He also served as JMA’s primary outside counsel for over six years in addition to representing other large institutional and development clients throughout the United States. Todd is a member of the Board of Directors of the Bay Club Companies and is a member of and contributing author to the California State Bar Real Property Section and various other real estate and investment trade groups. Todd is also passionate about sports and athletics having captained the rugby team during his time at Boston College. Todd received a B.S. from Boston College and a Juris Doctorate from Santa Clara University.

Marc Schultz, Esq.
Partner, Snell & Wilmer
Marc Schultz’s practice is concentrated in federal, local and state taxation matters, including complex transactions involving corporate, limited liability companies, limited partnerships, tax exempt entities, and real property. Marc currently chairs Snell & Wilmer’s Tax Credit Finance Group and Renewable Energy Group and founded and co-chairs the firm’s Opportunity Zones and Funds Industry Group.

Marc has represented investors, developers, and syndicators with respect to Low-Income Housing Tax Credit transactions, and has represented numerous parties with respect to New Markets Tax Credits, Historic Tax Credits and Renewable Energy. Marc is a regular speaker and panelist on the subject of tax credit finance and has written numerous articles and has been quoted in publications with respect to these subject areas. Marc is currently representing investors, fund sponsors and developers with respect to the Opportunity Zone Program. He has an established practice involving mergers and acquisitions, joint ventures, formation of private investment funds, like-kind exchanges, and tenancy-in-common transactions. He has also served as an adjunct professor, teaching taxation of business entities in the Graduate Program of Accountancy, at the University of Illinois-Chicago. Mr. Schultz served on the Board of Directors for the Arizona Housing Finance Authority, as an appointment by Arizona Governor Doug Ducey.

John Sciarretti, CPA
Partner, Novogradac & Company LLP
John Sciarretti is a partner in the Dover, Ohio, office of Novogradac & Company LLP, where he specializes in the real estate finance, community development and renewable energy industries. Mr. Sciarretti has extensive financial experience working with businesses, including more than 20 years in public accounting and four years as an executive financial manager. Mr. Sciarretti specializes in the historic rehabilitation tax credit (HTC), new markets tax credit (NMTC) and the renewable energy credit (RETC). He consults with tax credit investors, syndicators, community development entities (CDE) and developers on structuring, financing and syndicating tax credits. His experience includes structuring complex financing for real estate developments and renewable energy transactions, including using NMTCs, HTCs, RETCs and other federal, state and local tax credits and incentives. Mr. Sciarretti has extensive experience in preparing financial forecasts for HTC, NMTC and RETC projects, as well as syndicated real estate investments. Mr. Sciarretti also provides a broad range of advisory services to CDEs, including transaction structuring, development and implementation of internal compliance policies and procedures, monthly loan servicing and asset management assistance, compliance review and Community Development Financial Institutions (CDFI) Fund reporting. He also advises clients on accounting, tax and regulatory matters. Mr. Sciarretti also leads and coordinates the Novogradac Opportunity Zones Working Group, a membership organization that is highly regarded for the work it does addressing technical programmatic issues surrounding the Opportunity Zones tax incentive. He has published many articles, contributes content to the Novogradac Journal of Tax Credits and is a frequent speaker at industry events. Mr. Sciarretti earned a bachelor’s degree in finance and accounting from the University of Dayton and a master’s degree in taxation from the University of Akron. He is licensed as a certified public accountant in Ohio.

John S. Lore, Esq.
Partner, Capital Fund Law Group
Mr. Lore advises established and emerging managers both internationally and throughout the United States in forming and operating hedge funds, private equity funds, real estate funds and other alternative funds using varied strategies; including equity, fixed income, distressed debt, sector funds, and real estate. Mr. Lore also counsels operating companies on debt and equity Regulation D private placement securities offerings for all market sectors; including, real estate, energy, lending and finance, healthcare and manufacturing.

Mr. Lore advises investment fund sponsors on all aspects of their business, from capital raising and fund formation to implementation of their business models. His representation of a broad range of asset managers allows him to keep abreast of emerging trends. Prior to founding Capital Fund Law Group, Mr. Lore practiced corporate and securities law at a number of law firms, including the private securities department of Akin Gump Strauss Hauer & Feld, one of the largest international law firms in the world, in its New York City and Moscow offices.

Jacob Werrett
General Counsel & Acquisitions, JMA Ventures, LLC
Jacob serves as General Counsel & Acquisitions at JMA Ventures, a full-service real estate investment and development firm. In his role, he assists in managing the firm’s legal needs, as well as sourcing and underwriting new projects. Prior to joining JMA, Jacob practiced M&A law at Wilson Sonsini Goodrich & Rosati in San Francisco, a firm representing more tech companies in M&A transactions than any other U.S. law firm. Jacob worked as a real estate broker for several years prior to attending law school, and in 2006 co-founded a real estate brokerage, Thornton Walker, Inc. Jacob received a J.D. from the University of Connecticut Law School.

This presentation is provided for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. This presentation is not intended to provide, and should not be relied upon for, accounting, legal, or tax advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

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