The Delta Development Corporation (DDC) will serve as an experienced business and development partner for investors wishing to take advantage of investment opportunities in Delta County.
The DDC is a for-profit limited liability corporation that is focused on the following objectives:
- Identify low-risk real estate opportunities in Delta County based on land and market economics. Assist with project packaging when appropriate.
- Identify new business start-ups or existing business expansion opportunities that demonstrate long-term growth potential and provide support when appropriate.
- Raise investment capital which will foster growth and enhance quality of life assets in Delta County within its Opportunity Zones.
The DDC is operated by local business executives and governed by a board comprised of public-private community leaders from Delta County. It will operate a Qualified Opportunity Fund (QOF) in compliance with provisions of Section 1400Z-2 of the Internal Revenue Code of 1986, as amended. The equity find will operate as a limited liability company (LLC).
The fund will prepare an offering memorandum, investor’s subscription agreements, an operating statement, agreement, and due diligence include: questionnaires providing investors with objectives, risks, and terms of investments. The fund will rely on SEC Regulation D as an unregulated private placement offering.
ROI and Initial Conditions
Investors will receive a 12% preferred return on investment. The overall return on investment will be subject to real estate and business final terms. A total return on investment of between 15-20% will be the DDC’s goal for its investors.
OPPORTUNITY TYPE
Investor, Investor-Partner, Investor-Developer
DDC’s primary mission is to build a portfolio of investment-worthy real estate and business opportunities that will result in the attraction of equity capital to Delta County. Key roles:
- Market Delta County’s OZ prospectus to investors with the goal of attracting equity capital that aligns with an investment strategy developed by the DDC.
- Attract investors that wish to partner with selected developers or businesses to expand a project’s capacity and expertise.
- Assist selected developers in raising investment capital utilizing the experience and credibility of the DDC to link and manage the investor-developer deal structure.
Financial Overview
The DDC will operate with a goal of raising up to $20,000,000 in equity capital to support Riverfront Redevelopment, development of targeted publicly owned land, and other Opportunity Zone properties and businesses. It will establish effective public-private partnerships intended to manage investment risk and to produce quality development and business outcomes over a 10-year period. Estimated total project investment $500,000,000 over a 10-20-year period.
KEY PARTIES
The DDC is operated by a CEO and President. In addition, its Board of Directors includes several key business and government leaders.
The key point of contact is the Director of One Delta County, Greg Pope: (970) 275-0717.
