Opportunity Zones

​Opportunity Zones offer investors preferential tax treatment for capital gains invested in low income communities. The program is designed to encourage long-term investment in economically distressed areas and promote economic growth. These investments provide support to projects focused on a wide array of issues including downtown revitalization, housing improvements and expansion of industrial parks and innovation districts.

The following incentives are offered to investors for putting their capital to work in these qualified opportunity zones.

• Temporary capital gain tax deferral
• The period of capital gain tax deferral ends on 12/31/26 or an earlier sale
• A step-up basis
• Investment held for five years - basis increased by 10% of deferred gain (90% taxed)
• Investment held for seven years - basis increased by another 5% of deferred gain (85% taxed)
• Forgiveness of additional gains
• Investment held for 10 years - basis equal to fair market value; forgiveness of gains on appreciation of investment of sale or exchange of Opportunity Fund investment. This exclusion applies only to gains accured after an investment in an Opportunity Fund.

Are You Looking to Maximize Your Return on Investment in a Business and/or Property Located in the City of Wichita?

Is Your Business or Property Located in a Qualified Opportunity Zone?

If so, there can be significant tax savings realized for investors with access to capital gains who are focused on business ownership and/or long-term real property ownership within one of the City of Wichita’s 5 Qualified Opportunity Zones!

If you or your investors have capital gains dollars available to deploy within one of Wichita’s Opportunity Zones, through the utilization of a Qualified Opportunity Fund (QOF), business and real estate investors can realize the following tax benefits:

• Temporary deferral of taxes on previously earned capital gains. Opportunity Zone Investors can place existing assets with accumulated capital gains into Qualified Opportunity Funds. Those existing capital gains are not taxed until (at the earliest) the end of 2026 or when the asset is disposed of.
• Basis step-up of previously earned capital gains invested. For capital gains placed in Qualified Opportunity Funds for at least 5 years, investors’ basis on the original investment increases by 10 percent. If invested for at least 7 years, investors’ basis on the original investment increases by 15 percent.
• Permanent exclusion of taxable income on new gains. For investments held for at least 10 years, investors pay no taxes on any capital gains produced through their investment in Qualified Opportunity Funds.

Where are the Opportunity Zones located within the City of Wichita?​

There are 9 census tracts that make up the 5 Opportunity Zones within the City of Wichita.

Featured City of Wichita Opportunity Zone Investment Opportunities!

(Click on an image for more information)

The Historic Dunbar Theatre

College Park Plaza & College Park Place