Winefield & Associates

Will I Get Opportunity Zone Tax Benefits for a Brownfield Investment?

8/26/2019

The quick answer is: “You most likely will, but the IRS is still clarifying standards.”

You may recall that the opportunity zone program has established low-income communities in need of outside investment that are certified as qualified opportunity zones by the Treasury Department. Taxpayers realizing capital gains can defer their tax obligations on those gains if they invest them within 180 days into a qualified opportunity fund (QOF). The goals of the opportunity zone and brownfield programs overlap substantially. Brownfields exist disproportionately in economically depressed and low-income areas, including many communities that have been designated as qualified opportunity zones. Redevelopment of brownfields can thus be an important step in revitalizing opportunity zone communities. And if the opportunity zone tax benefits can be realized by investors who assess and cleanup potentially contaminated sites, the environmental goals of the brownfield program would be promoted as well.

Space Available for Short-Term Rental in City of Industry

7/10/2019

Winefield & Associates (W&A) recently acquired a 25,000 sq. ft. former gasoline station in the City of Industry. The tanks have been removed, and there remains a 2,700 sq. ft. free-standing building on site. W&A is currently negotiating terms with a national convenience store chain, which will entitle the property and construct improvements pursuant to a long-term, triple-net lease. We expect the site will be available for rent for 18 months during the entitlement process. If you have interest in renting the site for the next 18 months, please contact Matt Winefield (mw@winefieldinc.com; cell 562-618-0037). Site address: 841 S. 7th Avenue, City of Industry, CA 91745

Winefield & Associates Hollywood Investment Buttressed by Development Boom, Including Resumption of Super Staples Project

6/25/2019

In 2016, Winefield & Associates (W&A) acquired a 0.4-acre former gas station parcel near the corner of Western & Sunset in Hollywood. W&A’s remediation process is almost completed, and development in that immediate area is booming. A plethora of commercial and residential projects are now underway. The most notable nearby project is the Super Staples that, due to litigation, had to cease construction for four years. That construction has now been given the green light to complete. This is just one of dozens of development projects changing the Hollywood landscape for the better. W&A is delighted that our site will soon be available for sale across the street from this Super Staples development and in the immediate vicinity of a development boom.

Tax Advantages in Qualified Opportunity Zones

2/11/2019

The investment power of brownfields development can be merged with the tax advantages of Opportunity Zones. Winefield & Associates is actively researching contaminated sites to purchase in OZs. Here is a very brief primer on OZs:

https://windes.com/news_/qualified-opportunity-zones-designated/

Redeveloping Contaminated & Blighted Properties - Jan 25 - Los Angeles, CA - Upcoming Seminar & Live Webcast

12/3/2018

Redeveloping Contaminated & Blighted Properties in California

Los Angeles, CA
January 25, 2019
Available via Live Webcast

Credits:
CA CLE: 6.75 General Credits
APA: 6.75 CM Credits
Contractors & Engineers: May Qualify

View Agenda & Registration

Registration for the California Land Recycling Conference is Now Open

7/16/2018

Register today for the California Land Recycling Conference, taking place October 24th & 25th in Carson. The Conference will bring together a multidisciplinary audience of redevelopment leaders to foster knowledge exchange, innovation, and support for land recycling in California communities. Join us and register today to secure your early bird rate!

The California Land Recycling Conference is the first event of its kind, meant to bring together land recycling practitioners from across the state. It is organized by the Center for Creative Land Recycling, California Department of Toxic Substances Control, and the U.S. Environmental Protection Agency. The event will be a great opportunity to learn the latest in land use practice and regulation and hear stakeholders from across California share their knowledge. Come for the resources, stay for the networking and help us build support for land recycling.

W&A President, Matt Winefield, will be moderating and participating in panels throughout the program.

Winefield & Associates Presenting with SARWQCB at the AEHS 28th Annual West Coast Conference

3/2/2018

Matt Winefield will be presenting jointly with the Santa Ana Regional Water Quality Control Board on March 20th at the Association for Environmental Health & Sciences (AEHS) 28th Annual International Conference on Soil, Water, Energy, and Air. Nick Amini, PhD, PE, of SARWQCB, will spearhead a discussion of case studies of successful brownfield redevelopments in California. The presentation will be part of the Remediation and Regulatory discussions taking place in Salon G between 8:30 and noon at the Marriott Mission Valley. Matt and Nick will be on stage at 10:30am. Come learn about the latest tools to bring contaminated sites to productive use. For conference information and to register, click the following link:

http://www.aehsfoundation.org/West-Coast-Conference.aspx.

Association for Environmental Health and Sciences

Commercial Property Executive Interviews Matt Winefield on Brownfields Strategies

10/17/2017

Developing on environmentally contaminated sites might seem like a complicated investment strategy, but the high rate of return can make it worthwhile. This month, Matt Winefield of Winefield & Associates was interviewed by Commercial Property Executive about brownfields strategies and the benefits of investing in contaminated sites.

Read the full Commercial Property Executive article here: https://www.cpexecutive.com/post/the-benefits-of-investing-in-contaminated-sites/

Looking for Buried Treasure Then Doing the Deal: Brownfields Panel at Yosemite Environmental Law Conference, October 20th

10/3/2017

Mix business and pleasure at The State Bar of California Environmental Law Conference in Yosemite. On October 20th, I will be part of a panel that discusses the latest developments and hot topics regarding site assessment and remediation, with or without agency oversite, in the context of the prospective development, sale, or leasing of contaminated properties. The panel will cover the latest Brownfield policies, how to best navigate soil vapor intrusion issues, the do’s and don't's of seeking and obtaining closure/no further action letters from government oversite agencies, and strategies to best protect against or minimize your environmental liabilities when transacting a deal involving impacted properties. Our panel will also address the Trump Administration’s impacts on these issues.

Moderator: Gary A. Meyer, Parker Milliken, Los Angeles.

Panelists: Marie Rongone, U.S. EPA Region IX Office of General Counsel, San Francisco; Suzi Rosen, Partner, Engineering and Science, Inc., Torrance; Matt Winefield, Winefield & Associates, Real Estate Ventures, Long Beach.

Learn more about this esteemed conference at: https://goo.gl/1KH1RE

Thank You Gary Meyer, Esq. and the Los Angeles County Bar, Environmental Law Section

9/27/2017

It was a pleasure presenting brownfields strategies to the LA County Bar Environmental Section on September 26th. Many thanks to Gary Meyer, Esq. of Parker, Milliken and Suzie Rosen of Partner Engineering, who were kind enough to let me share their panel stage. We focused our discussions on: protecting investors’ contaminated real estate assets; obtaining agency no further action letters; and developing a property in tandem with remediation. For more information about LACBA’s outstanding events, click here: https://goo.gl/CZaCwu.

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