Broadcast Date: Friday, December 04, 2020
from 12:00 pm to 1:30 pm (ET)


For the past years, the tax incentives provided by qualified opportunity zone (QOZ) investments have greatly helped and benefited investors in qualified opportunity funds (QOFs). However, important regulatory changes have been continuously happening in this area of law. These changes, in addition to the several other developments brought by the COVID-19 pandemic, need to be carefully addressed and considered.

In this LIVE Webcast, a panel of key thought leaders and practitioners assembled by The Knowledge Group will provide the audience with a comprehensive discussion of the latest trends and updates in QOZs. Speakers will also offer best practices considering the recent trends, updates, and the implication of the COVID-19 pandemic.

Some of the major topics that will be covered in this course are:

  • An Overview of Qualified Opportunity Zones
  • Recent Trends and Developments
  • Implications of COVID-19 Pandemic
  • Opportunities and Challenges
  • Practical Tips and Best Practices
  • What Lies Ahead


Course Level:



Advance Preparation:

Print and review course materials


Method of Presentation:

On-demand Webcast (CLE)



General knowledge of tax laws


Course Code:



NY Category of CLE Credit:

Areas of Professional Practice


Total Credits:

1.5 CLE

Speaker Panel:

Lorenzo A. Bivans, Jr. , Senior Counsel
Rosenberg Martin Greenberg, LLP

Lorenzo is Senior Counsel in Rosenberg Martin Greenberg’s Business Planning and Transactions and Tax and Wealth Planning groups, focusing particularly on the structural and other tax aspects of business transactions. Lorenzo focuses particularly on equity and asset sales and acquisitions and joint ventures, and the formation and restructuring of business entities. Lorenzo advises and focuses on equity compensation and real estate issues, as well as renewable energy, qualified opportunity zone, and other tax credit and tax benefit opportunities. Lorenzo’s practice encompasses many aspects of federal and state tax law. He is a member of the American Bar Association Section of Taxation and the Maryland State Bar Association. Lorenzo graduated from Princeton University and received his J.D. from Rutgers School of Law.

Derek Kershaw , Counsel
Shearman & Sterling LLP

Derek Kershaw is counsel in Shearman & Sterling’s Tax practice. He advises clients on a range of areas of tax law. His practice includes domestic and international transactional work, including mergers and acquisitions, joint ventures, private equity and hedge fund investments and structuring, REITs and other pass-through entities, and real estate.

Gene Crick , Partner
Nelson Mullins Riley & Scarborough LLP

Gene Crick is a partner in Nelson Mullins Broad and Cassel’s Orlando location. Gene handles income tax issues and transactional legal work with respect to the buying and selling of entities or assets for various business clients. His transaction and tax experience includes affordable housing, historic buildings, and commercial buildings qualifying for federal income tax credits. Gene also has experience setting up qualified opportunity funds and qualified opportunity zone businesses and tax planning and documentation for forward and reverse deferred Section 1031 exchanges.

Gene is AV Preeminent Peer Review Rated by Martindale-Hubbell and is a member of the tax sections of both the American Bar Association and the Florida Bar.



Lorenzo A. Bivans, Jr.Senior Counsel

Rosenberg Martin Greenberg, LLP

  • Basic qualification requirements
  • Benefits for qualifying projects
  • Improvement of QOZ property during the project
  • Guidance and developments related to COVID-19


Derek KershawCounsel

Shearman & Sterling LLP

  • In June, the IRS provided relief for qualified opportunity funds (“QOFs”) and their investors in response to the coronavirus (COVID-19) pandemic, in Notice 2020-39 (the “Notice”).
  • I will discuss a number of the important provisions of the Notice, including how the Notice:
    • clarifies the application of certain relief provisions in the QOZ regulations;
    • provides relief for certain failures by a QOF to meet the 90% investment standard;
    • postpones the time periods for satisfying certain other requirements, including the 180-day period for investors to invest eligible gains in a QOF; and
    • addresses eligibility for the 24-month extension for the working capital safe harbor and the 12-month extension for QOFs to reinvest certain proceeds.
  • I will explain the regulations that are effectively modified by the Notice and describe examples illustrating how the Notice functions.


Gene CrickPartner

Nelson Mullins Riley & Scarborough LLP

  • The final regulations under Section 1400Z offer a choice to taxpayers for tax years beginning after December 22, 2017 and on or before March 13, 2020, with respect to the adoption of the Proposed Regulations or the Final Regulations, but only if taxpayers consistently apply the chosen Regulations to these tax periods.
  • For calendar year taxpayers, the tax years subject to this choice are tax years 2018, 2019 and 2020 so it is important if a taxpayer prefers the Proposed Regulations that the taxpayer understands the differences between the Proposed Regulations and Final Regulations.
  • I will discuss a number of the important differences to assist in this choice, including: (a) circular cash theory/ step transaction principles for sales of property to a controlled QOZB and reinvest of gain cash in the QOF controlling the QOZB; (b) beneficial language with respect to the Working Capital Safe Harbor; and (c) the 10 year gain exclusion.
  • I further will state nuances relating to these differences between the Regulations, including risks associated with making an election of the Proposed Regulations.
  • Lastly, I will provide examples of these differences for educational and tax planning purposes.

Date & Time:

Friday, December 04, 2020

12:00 pm to 1:30 pm (ET)

Who Should Attend:

  • Real Estate Brokers
  • Investment Advisers
  • Tax Practitioners
  • Tax and Finance Lawyers in the Real Estate Sector


Lorenzo A. Bivans, Jr. Senior Counsel
Rosenberg Martin Greenberg, LLP
Derek Kershaw Counsel
Shearman & Sterling LLP
Gene Crick Partner
Nelson Mullins Riley & Scarborough LLP



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