• Paso Robles Opportunity Zone

  • The Paso Robles Opportunity Zone is unique to others found in California in that in encompasses the entire downtown area as well as surrounding residential neighborhoods.  Opportunities for investment include vacant parcels, multifamily residential properties with deferred maintenance, commercial/office buildings in need of façade and interior improvements, and a number of businesses that could thrive with additional capital from private investors. 

    What is an Opportunity Zone?

    An Opportunity Zone is located within an economically-distressed area where new investment, under certain conditions, may be eligible for preferential tax treatment. Investments in these zones through special funds called Opportunity Funds will be allowed to defer or eliminate federal taxes on capital gains earned from the sale of stock, business assets, or property. The Paso Robles Opportunity Zone includes all land within the City boundary that is west of the Salinas River and north of 1st Street. 

    Economic Benefits

    Opportunity Zones (OZ’s) are designed to spur economic development by providing tax benefits to investors. First, folks investing in an opportunity zone can defer tax on a prior gain until the investment is sold or exchanged, so long as the gain is reinvested in an Opportunity Zone within 180 days. Second, if the investor holds the investment for at least ten years, the investor will be eligible for an increase in basis equal to the value of the investment.

    The program offers three tax incentives for investing in the Paso Robles Opportunity Zone.