duplexes: Still time for a great opportunity in the GO ZONE
- 04/06/08 02:44 PM
The U.S. Senate approved a measure Friday to extend the Gulf Opportunity Zone Act, giving new hope that lucrative tax incentives to build condos, apartments and businesses will last a few more years.U.S. Sen. Roger Wicker added an amendment to a housing bill, and his addition passed 74-5. U.S. Sen. Thad Cochran co-sponsored the bill. The new GO Zone plan would give tax breaks to builders of apartments, condos and businesses only in Hancock, Harrison, Jackson, Pearl River and Stone counties. When it passed just after Hurricane Katrina in 2005, the legislation had incentives for nearly 50 Mississippi counties but those are … (0 comments)
duplexes: GO Zone is more "No GO"-thanks to greed.
- 03/13/08 04:07 AM
August 29th 2005, not a great day if you happen to live on the gulf coast states of Mississippi, Alabama, and Louisiana. On that day, arguably the worst hurricane to hit the gulf coast came ashore. Hurricane Katrina roared in with 150+ mph winds and a tidal surge that towered over the buildings that it was about to crush.
So the cleanup began. The American Red Cross, the Southern Baptist Disaster Relief, the national Guard, and thousands of huge hearted volunteers arrived. The chore of clearing debris made even more difficult by the knowledge that as the next remnant … (2 comments)
duplexes: Good news for the GO Zone
- 03/10/08 01:52 AM
PASCAGOULA -- Irwin F. Edenzon, the new sector vice president over Northrop Grumman's Gulf Coast shipyards, said last week his role will be to support his workers so that they can build the best ships possible. But a priority will be to recruit workers. "We need to be able to find, recruit and retain a good work force," Edenzon said. "We need more people. And how do we make sure the ones that are here stay and continue doing a good job? And how do we go into the community and into the state to recruit people to come here to work? "I'd be … (2 comments)
duplexes: GO Zone for the ordinary person
- 02/29/08 05:42 AM
You can fing groups posting, blogging, webinars, seminars, e-campaigns, tours, rallies, media blitzes, faxes, carrier pigeons, smoke signals, drums, intelligence briefings, and virtually any other king of media summit all talking about the "GO Zone". But does it make sense to the average person? The IRS has all kinds of incentives and tax breaks such as bigger education credits, extended tax deadliines, bigger charitable giving deductions, and much more. But... the one that you as a real estate investor should pay attention to is the whopping bonus 50% depreciation allowance for investors purchasing property (not just real estate) after August 27, 2005. As … (0 comments)
duplexes: More news from the "GO Zone"
- 02/27/08 02:47 AM
If you thought that a good opportunity in real estate investing today consists of getting a property that isn't sinking in value faster than a sumo wrestler in quicksand, then the chances are you haven't looked at "the GO Zone". When Hurricane Katrina hit the country in August of 2005 it was one of the the most devastating natural disasters the country has ever experienced. The devastation had a far reaching impact on the affected states' economy. In reaction to this, the Congress approved the house bill number HR 4440 on December 16, 2005 which was days later signed by President Bush. HR 4440, otherwise known as the Gulf Opportunity … (0 comments)
duplexes: Why consider "the GO Zone"
- 02/26/08 05:37 AM
While the fallout of the sub-prime market and the slowdown in housing starts has been difficult for most of the United States, one area that is really feeling the crunch is the gulf coast of Mississippi. An area rocked by Hurricane Katrina is now faced with a new growing crisis. Consider these facts; Mississippi was a 35% rental state prior to Katrinahundreds of thousands of people have been displaced (most want to return home)Insurance payouts have been slow and/or nonexistentmany landlords chose not to rebuild rather choosing to accept the settlement checkgovernment programs designed to kickstart rental housing have been mired in bureaucracymany … (0 comments)
duplexes: GO Zone, tax season, and how can I benefit?
- 02/25/08 05:40 AM
With tax season here, could you be thinking "I could have done better?" Look at the "GO Zone". The two year anniversary of Hurricane Katrina went by, many media outlets are featuring articles and reports (MSNBC, Rising from the Ruin) reminding us how devasting that storm was by documenting the hardships of the rebuilding process in the Gulf region, a process that for some is taking far too long. Most people read or watch these reports and articles then look at the pictures and think to yourself, "could this truly be our country?". The answer is yes, this is our country. More importantly, what can we do about it? Very … (0 comments)
The U.S. Senate approved a measure Friday to extend the Gulf Opportunity Zone Act, giving new hope that lucrative tax incentives to build condos, apartments and businesses will last a few more years.U.S. Sen. Roger Wicker added an amendment to a housing bill, and his addition passed 74-5. U.S. Sen. Thad Cochran co-sponsored the bill.;)
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