Business View Magazine | May 2019

212 BUSINESS VIEW MAGAZINE MAY 2019 www.charlesmarandinollc.com LEADERS IN CONCRETE! SERVING NEW JERSEY FOR OVER 38 YEARS Licensed, Fully Insured & Bonded to drive long-term, private investment into low-income communities. A census tract which has been designated as eligible, can receive private investments through Opportunity Funds, which allow their investors to receive certain tax benefits when they reinvest any unrealized capital gains into them for a minimum of five years. “We’re hoping to maybe benefit from investors looking to invest their capital gains in the Opportunity Zone,” says Silvers. “It’s something that we’re promoting even though we may or may not be involved in the projects.” Another ongoing project in downtown Millville is the repurposing of a local hotel and catering hall - the Country Inn & Suites and the Heritage House/ Paper Waiter restaurant - into an assisted living and adult medical day care facility near the Wheaton Arts and Cultural Center. “We think that there’s going to be some good synergy with Wheaton Arts,” says Silvers. Founded as Wheaton Village in 1968, the Wheaton Arts and Cultural Center is a nonprofit organization with a mission to “engage artists and audiences in an evolving exploration of creativity.”