920 3RD STREET W

Fantastic Opportunity for AFFORDABLE HOUSING in this downtown Bradenton area. Great downtown zoning allows setback of 5-10 ft leaving plenty of room for a nice 3/2 and a garage in the back. Seller has survey that has been completed very recently. It is located in Opportunity Zone (Low-Income Community - #12081000103). The Opportunity Zone Program aims to foster economic development and job creation in economically distressed communities.It was created by the Federal Tax Cuts and Jobs Act of 2017 to encourage businesses, developers and financial institutions to invest long-term capital in low-income census tract areas. These areas were designated as Qualified Opportunity Zones by the U.S. Department of Treasury in June 2018. Treasury has approved 8,760 Qualified Opportunity Zones, which are in all 50 states, five territories and the District of Columbia. Investments are made in Opportunity Zones through U.S. Treasury Qualified Opportunity Zone Funds, which must invest over 90 percent of their assets in Qualified Opportunity Zone properties and businesses. Qualified Opportunity Zone Funds attract investors through possible tax benefits. Tax benefits can accrue once unrealized capital gains from other investments are rolled into Qualified Opportunity Zone Funds. Check out Opportunity Zones Programs for further information.