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Go Zone Presentation

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Go Zone Presentation

  2. 2. Notice<br />Investment goals and tax liabilities differ for everyone. We make no representation as to an individual’s eligibility to receive GO Zone benefits and/or incentives. You must consult a tax professional to ensure your eligibility for GO Zone bonus tax deductions or other incentives. All information contained herein is deemed reliable but it is not guaranteed. The information is subject to errors, omissions, prior sale, changes and withdrawals without notice.<br />
  3. 3. AGENDA<br />Overview Of Hanover<br />GO Zone<br />Market <br />Presentation of Opportunity<br />Questions & Answers<br />
  4. 4. About Hanover<br /><ul><li> We specialize in residential property acquisitions and sales in the Gulf Opportunity Zone [GO Zone], one of the hottest real estate markets in the U.S. today.
  5. 5. The largest direct seller of GO Zone real estate in the country.
  6. 6. Our Members have over 40 years of experience as real estate investors, fund advisors, property managers and developers.
  7. 7. Our members have successfully converted over 11,000 multi-family residential apartments to condominium ownership.
  8. 8. Our Members have directed Operations for the Management of over 60,000 operating apartments in more than 250 multi family residential communities in 7 states. </li></li></ul><li>What Is The GULF OPPORTUNITY ZONE ACT OF 2005?<br />In 2005, The U.S. Congress passed a bill titled, "The Gulf Opportunity Zone Act." The purpose of The GO Zone Act is to help revitalize and stabilize regions of the U.S. that were affected by hurricanes Rita, Katrina, and Wilma.  As part of this effort, The GO Zone Act allows qualified real estate investors to take a 50% bonus depreciation incentive upon the purchase of qualified GO Zone property. <br />
  9. 9. Obama Extends Go Zone!<br />On December 17th 2010 President Obama signed the tax extension bill which extended GO Zone. “Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act” Section 765. <br />
  10. 10. The Experts Are Hot OnThe Mississippi Go Zone<br />“Today, when it comes to housing markets, the Biloxi-Gulfport metro area is the jewel of the bayou.”<br />“one of the top 10 fastest growing small metro areas”<br />On Biloxi/Gulfport<br />“Biggest home price increase projected in 2014: Gulfport-Biloxi metro area”<br />Gulfport / Biloxi Ranked #1 Risk Adjusted Market by Moody’s.<br />
  11. 11. Why Is Gulfport –Biloxi Booming?<br />The Go Zone lost 65,000 homes and11,000 short-term rental options in ONE DAY!<br />Most United States housing markets have a surplus of housing. In the Go Zone, demand is expected to vastly exceed the supply for the next 5 to 7 years.<br />
  12. 12. Bloomberg Article<br />
  13. 13. GAMING<br />New law enacted after Hurricane Katrina allows casinos to be LAND BASED and up to 800 feet from the mean high tide water mark<br />Gulfport-Biloxi is currently the No. 2 gaming center in the nation and its growing at record numbers.<br />More gaming visitors than Atlantic City, and is redefining itself a regional destination for travelers looking for multiple casino-resort offerings.<br />Two casino’s just passed site approval and are set start construction in 2011:<br />Can-Can Casino & Jimmy Buffet’s Margaritville on Biloxi’s Back Bay.<br />
  14. 14. CASINOSThese 11 Casinos Employover 17,000 People<br /><ul><li> Beau Rivage Casino & Resort
  15. 15. Hard Rock Hotel & Casino
  16. 16. IP Casino Resort & Spa
  17. 17. Boomtown Casino
  18. 18. Island View
  19. 19. Treasure Bay</li></ul>Beau Rivage Casino &<br />Resort is an MGM Property.<br />It is largest completed and open<br />casino in Biloxi. Twin sister and<br />spitting image of Bellagio (Las Vegas),<br />1,740 rooms95 Suites, and employs<br />over 4,000 people.<br /><ul><li> Palace Casino & Resort
  20. 20. Hollywood Casino
  21. 21. Silver Slipper
  22. 22. Biloxi Grand
  23. 23. Isle Of Capri</li></li></ul><li>PORT OF THE FUTURE<br />“This port [expansion] is an economic gold mine for all of South Mississippi”
<br />~ Haley Barbour, Mississippi Governor<br />Mississippi Business Journal, July 20, 2009<br />
  24. 24. PORT FACTS<br /><ul><li> July 2009 Kicked off a $1.6 BILLION expansion that will transform the Port of Gulfport into one of the largest in the US.
  25. 25. Will create 6,500 direct, 8,400 induced and 1,700 indirect jobs with a $10 billion annual payroll with an overall economic impact that extends into the tens of billions. 
  26. 26. This economic driver is only poised to grow.  The Panama Canal is currently undergoing an ambitious project to greatly widen it.  The super-canal will be completed in 2014.
  27. 27. Port leaders in Mississippi say the expansion of their port coupled with the increased in freight traffic through Panama’s new super-canal will create economic synergy on massive scale.</li></li></ul><li>Sun Herald Article<br />
  28. 28. Keesler Air force Base& Medical Center<br />Keesler currently employs 11,200 people, including nearly 7,600 military positions. In addition, the base's presence created more than 3,500 local and contract jobs.  As one of the Air Force's major training centers, on any given day more than 3,500 students train at Kessler in more than 460 courses in technical subjects such as communication-electronics, medical, personnel, airfield management, weather forecasting and air traffic control.<br />Keesler Medical Center, is the second largest Air Force medical center in the United States.<br />
  29. 29. Sun Herald Article<br />
  30. 30. Aerospace &Defense Industry<br />Aerospace and defense industry jobs abound and are continually expanding in the Gulfport market area.<br />While the national job market is struggling, the Gulfport market is already stabilizing and growing. <br />The area is now home to major aerospace players like Lockheed Martin, Pratt & Whitney, Northrop Grumman, Rolls Royce among others.<br />The aerospace infrastructure also includes federal and university funded research units, aerospace parks, military aviation bases, technology transfer offices and test ranges.<br />The numerous military bases in the area employ tens of thousands of people and produce good tenants who need rental housing.<br />
  31. 31. Mississippi Gulf Coast Aerospace Snap-shot<br />Major Aerospace Companies:<br />BAE Systems<br />Lockheed Martin <br />Northrop Grumman<br />Pratt & Whitney<br />Rolls-Royce<br />Aerospace Research:<br />Center of Higher Learning<br />Enterprise for Innovative Geospatial Solutions<br />Joint Airborne<br />Lidar Bathymetry Technical Center of Expertise<br />SSC Engineering and Science Directorate<br />Aerospace Parks:<br /><ul><li> Aerospace Technology Park
  32. 32. Aviation Technology Park
  33. 33. Sunplex Light Industrial Park
  34. 34. General Aviation Industrial Park
  35. 35. Stennis International Airport
  36. 36. Mississippi Ammunition Plant Complex
  37. 37. Stennis Technology Park</li></li></ul><li>Sun Herald Article<br />
  38. 38. Gulfport – Biloxi Airport EXPANSION<br /><ul><li> Gulfport-Biloxi is the Mississippi Gulf Coast’s Commercial Airport.      
  39. 39. Post Katrina $51 million dollar airport expansion adding a total of 9 airlines.
  40. 40. New FAA Federal Air Tower Opened September 2010.
  41. 41. Million Air opening new Fixed Based Operation hanger April 2011.</li></li></ul><li>What’s The Best Reason To Buy Now?<br />Qualifying buyers have the option of using the Go Zone bonus depreciation towards the last five years of filed taxes.<br />GO Zone incentives in Mississippi are available until the end of 2011 but demand created by the tax benefits and the success of the Biloxi Market has left little supply of qualifying properties.<br />The time to buy is NOW!<br />**PLEASE SEE YOUR ACCOUNTANT OR TAX ADVISOR REGARDING YOUR INDIVIDUAL TAX CONSIDERATIONS AND QUALIFICATIONS.<br />
  42. 42. HANOVER’S CORPORATE LEASING PROGRAM<br />After purchasing your property, you can lease<br />it (buyers option) to Hanover as your corporate<br />tenant for up to 24 full months.<br />During the lease term, the rent you receive for<br />your unit will exceed:<br />Your monthly principal and interest payments<br />Your monthly homeowner association fees<br />Your monthly real estate tax payments<br />Your corporate tenant also pays:<br />Utilities (electricity, gas, water and sewer)<br />Maintenance and repairs<br />Appliance replacement (if necessary)<br />
  43. 43. GO ZoneBonusDepreciationExample<br />***All items shown on this page are for illustration purposes only. No amount is meant to be specific to any individual buyer and every buyer should consult their own accountant and tax advisor as to whether Go Zone bonus depreciation is appropriate for their individual needs and whether they (as buyers) are specifically qualified as defined within the current federal tax rules and regulations. This slide is for discussion purposes only and is not intended to represent any incentives or benefits to be received by an individualbuyer from the purchase of a Hanover property.***<br />
  44. 44. QualifyingGO Zone Buyer Scenario<br />Buyer has AGI of 150,000 tax federal rate of 35% Buyer owes IRS $52,500<br />Buyer purchases $250K GO Zone Property from Hanover<br />Buyer gets a $116,591 write off in YEAR ONE<br />Buyer’s new AGI is $33,409, taxable liability is now 20%·        <br />Buyer now owes IRS $6,682<br />OVER $45,000 in tax dollars that the buyer gets to preserve and create long term wealth and cash flow<br />Remember, you’re going to write a check, either to the IRS or by purchasing GO Zone from Hanover with the potential of saving thousands!<br />*** This slide is for discussion purposes only and is not intended to represent any incentives or benefits from the purchase of a Hanover property.***<br />
  45. 45. Some Thingsto consider...<br />Did you do a ROTH Conversion in 2010? 2011?·       <br />This works for W2 and 1099’d*<br />How much have you paid in taxes the last 5 years?  <br />Using your 401k to loan yourself down payment         <br />Hanover has owner financing on select properties!<br />
  46. 46. Why Buy With Hanover In The Go Zone?<br />One of the Nation’s #1 emerging markets<br />Depreciation + Appreciation + Cash Flow + Timing<br />ALL Hanover’s Properties are located within the GO<br />Zone and are qualified for Tax Incentives.<br />You’re going to write a check, do you want to write it<br />to the IRS or would you like an appreciate asset?<br />5. Hanover’s Corporate Total Leasing Program<br />
  47. 47. The Village<br />The Village is located in a upscale bedroom community, Ocean Springs, the demand for housing in this area is high.  The development is located right down the street from the new Ocean Springs High School which is set to open in 2011.  Ocean Springs has some of the top rated schools in the state.  The development is a couple miles off of highway 90 which is located to all the shopping corridors and employment centers [Northrup Grumman and Chevron].  These are stick build homes with finishes found in custom homes,  4 brick sided with finishing touches all around, crown molding, granite, custom ceilings.<br />Special Circumstances: GO Zone Eligible<br />Location: A+ <br />City: Ocean Springs<br />State: Mississippi<br />Type: Single Family Homes<br />Stories: 1<br />Bedrooms: 3-4<br />Bath: 2-3<br />Home Size: 1500-1900 sq feet<br />
  48. 48. South Breeze<br />South Breeze is located in a upscale bedroom community, Ocean Springs, the demand for this type housing in this area is high.  The development is a brand new with streets, water and sewer finished at the end of 2010.  We currently have 2 high end model style homes underway.  The development will feature all features of any upscale development.  The lots are set up with garages facing an alley way for a very clean neighborhood feel.  These are custom stick build homes with finishes found in custom homes,  4 brick sided with finishing touches all around, crown molding, granite, custom ceilings, walk in closets, etc.<br /> <br />Property Name: South Breeze<br />Special Circumstances: GO Zone Eligible<br />Location: A+ <br />City: Ocean Springs<br />State: Mississippi<br />Type: Single Family Homes<br />Stories: 1-2<br />Bedrooms: 3-4<br />Bath: 2-3<br />Home Size: 1400-2200 sq feet<br />
  49. 49. Orleans place<br />Orleans Place is located in a upscale bedroom community, Ocean Springs, the demand for this type housing in this area is high.  This development is perfect for any investor looking for a great return on investment.   Located just off of Washington Avenue with a vast amount of employers, easy access to Interstate 10.  The development has all the features including, pool, grounds management and security on site, balconies, with a true New Orleans style feel.   The properties are stick build with close attention to all finishes, units include 2 car parking in front<br /> <br /> <br />Property Name: Orleans Place<br />Special Circumstances: GO Zone Eligible<br />Location: A+ <br />City: Ocean Springs<br />State: Mississippi<br />Type: Duplexes<br />Stories: 2<br />Bedrooms: 3<br />Bath: 2<br />Home Size: 1400 per side, 2800 total<br />
  50. 50. Adam’s Road<br />Adams Road is located in the one of the hottest towns in Gulfport – Biloxi Metro, D’iberville.  D’iberville is located just North of Biloxi off the I-110 bridge.  D’iberville has been going through an economic boom since 2005.  This particular development is located just around the bend from the new Promenade Shopping Center with all of the big box stores we have all come accustom to having.  2 new casino’s are approved slated to begin construction in D’iberville this year.  The units have a nice open floor plan with 2 beds, 2 baths, tile floors for easy maintenance.  Easy access to parks, shopping, employers and Interstate 10.  <br /> <br /> <br /> <br />Property Name: Adam’s Road <br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: D’iberville<br />State: Mississippi<br />Type: Four Unit<br />Stories: 2<br />Bedrooms: 2<br />Bath: 2<br />Home Size: 1000 per door, 4,000 total<br />
  51. 51. Gulf haven<br />Gulf Haven is located in a upscale tucked away area of Gulfport, the possibility of finding rental housing in this area before was low but demand for it is high.  About an 8 min drive from the Interstate 10 and Hwy 49 Corridor.  We currently have high end model style homes underway.  The development is flanked by upscale horse and cattle ranch estates.  These are custom stick build homes with finishes found in custom homes,  4 brick sided with finishing touches all around, crown molding, granite, custom ceilings, walk in closets, etc.<br /> <br /> <br />Property Name: Gulf Haven<br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Gulfport<br />State: Mississippi<br />Type: Single Family Homes<br />Stories: 1-2<br />Bedrooms: 3-4<br />Bath: 2-3<br />Home Size: 1300-2200 sq feet<br />
  52. 52. Meadows of Gulfport<br />The Meadows is a  Family Community designed for convenience, comfort and safety.  Located off of Highway 49 close to all local attractions, schools, restaurants and fast growing employment centers.  Right across the street from Gulfport Sports Complex.  Located between Navy CB Base and Keesler Air Force Base.  Units include central air conditioning, heating and appliances with indoor, in unit laundry. <br /> <br /> <br />Property Name: Meadows of Gulfport<br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Gulfport<br />State: Mississippi<br />Type: Duplex<br />Stories: 2<br />Bedrooms: 3<br />Bath: 2<br />Unit Size: 2400 per building [1200 per 3 bed, 2 bath individual living level]<br /> <br />
  53. 53. May’s Place<br />May’s Place is located in a booming area of Gulfport with well known family neighborhoods surrounding the development.  Close to elementary and middle schools, a couple miles from Hwy 49 filled with new commercial development, restaurants and shopping.  About a 10 minute drive to fantastic Gulfport Outlet Shopping Center.  These are stick build homes with finishes found in custom homes,  4 brick sided with finishing touches all around, crown molding, granite, custom ceilings<br /> <br /> <br />Property Name: May’s Place<br />Special Circumstances: GO Zone Eligible<br />Location: A+ location<br />City: Gulfport<br />State: Mississippi<br />Type: Single Family Homes<br />Stories: 1<br />Bedrooms: 3-4<br />Bath: 2-3<br />Home Size: 1200-1900 sq feet<br /> <br />
  54. 54. Mill Landing<br />Mill Landing is a gorgeous waterfront townhome development located on beautiful upscale Bayou View.  Each townhome comes with its own deeded boat slip.  These are custom crafted townhomes with finishes you would find in the multi million dollar homes surrounding the development.  2 car large garages, down stairs porch, upstairs balcony off the great room.  Elevator shaft included, either add the elevator or use the extra storage, great possibility for exit to baby boomer or snow birds.  Professionally designed and decorated.  Perfect for vacation rental or annual corporate tenant.<br /> <br /> <br />Property Name: Mill Landing<br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Gulfport<br />State: Mississippi<br />Type: Townhomes<br />Stories: 3<br />Bedrooms: 2<br />Bath: 3<br />Home Size: 1,400<br />
  55. 55. Old Town Gardens<br />Old Town Gardens is located heart of gorgeous Long Beach.. Old Town gives you the most for you value with a gorgeous pond right in the development for the pure joy of that relaxing down South living.  Just a short drive from Downtown Gulfport, Casinos and the Navy CB Base and Keesler Air Force Base, award winning schools and USM Gulf Coast Campus.  Old Town is close to the beach, fishing piers, boat launch an absolute renters paradise perfect for small to midsize families. The homes feature upgraded appliances, front porches, garages and fantastic finishes not found in homes, especially new construction at this price point.<br /> <br /> <br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Long Beach<br />State: Mississippi<br />Type: Single Family Homes<br />Stories: 1<br />Bedrooms: 3<br />Bath: 2<br />Home Size: 1100-1200 sq feet<br />
  56. 56. Sheildsboro <br />Sheildsboro is a charming new subdivision in upscale Bay St Louis.  The neighborhood is steps to the beach and has a family feel with sidewalks all around.  Located just down the street from Old Town, Bay St Louis with shopping and restaurants.  Family center, clubhouse and pool set to open early 2011.  Homes come with porches, 10 foot ceilings, wood floors, crown molding, stainless appliances, one even has an entire in law apartment that could be rented for extra income! <br /> <br /> <br />Property Name: Sheildsboro<br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Bay St Louis<br />State: Mississippi<br />Type: Single Family Homes<br />Stories:1- 2<br />Bedrooms: 3-5<br />Bath: 3-4<br />Home Size: 1,400-2,500 <br />
  57. 57. Carre Court<br />Carre Court Town homes are located blocks from the beautiful beach and boat launch at the mouth of the St Louis Bay.  The development includes a private pool, cabana and grilling patio.  You’ll love the quiet secluded area of Bay St Louis, just a couple blocks from Old Town as well with restaurants and shopping.  Amazing finishes throughout, 10 foot ceilings, crown molding, tile floors and highly energy efficient design.  Makes for a great portfolio of GO Zone properties. <br /> <br /> <br />Property Name: Carre Court Townhomes <br />Special Circumstances: GO Zone Eligible<br />Location: A+<br />City: Bay St Louis<br />State: Mississippi<br />Type: Townhome<br />Stories: 2<br />Bedrooms: 3<br />Bath: 3<br />Home Size: 1,500<br />
  58. 58. Oak Shores<br />Oak Shores is a fantastic development located a few hundred feet from the white sand beaches on the Gulf of Mexico.  The property is located within minutes from Keesler Air Force Base, Casinos and tons of local shopping and restaurants.  This property goes with the old tag line, location, location, location!  We have one and two story two bedrooms available.  The property includes 2 resort style pools, fitness center and on site park.  The finishes are immaculate with granite counter tops, tile floors and stackable washer and dryer included.  We have the ability to provide owner financing on a few units in this fabulous GO Zone project.  Perfect for vacation rental or military personal in the private-public partnership program. <br /> <br /> <br /> <br />Property Name: Oak Shores<br />Special Circumstances: GO Zone Eligible, Owner Financing Available<br />Location: A+<br />City: Biloxi<br />State: Mississippi<br />Type: condos/2 story townhome style<br />Stories: 1-2<br />Bedrooms: 1-2<br />Bath: 1-2<br />Home Size: 600-1,000 <br />
  59. 59. CONTACT US TODAY<br />Preston M. Despenas, Partner<br />HANOVER COMPANIES<br />PHONE: 1(773) 305-1266<br />WEBSITE:<br />EMAIL:<br />