QOZ enterprise property is tangible property owned or leased by a QOF or QOZ enterprise that satisfies quite so much of standards. The first of those two “substantially all” references means at least ninety p.c, and the second means no less than 70 %. Thus, during a minimal of ninety % of the time during which the QOF or QOZ enterprise holds or leases the tangible property, a minimum of 70 p.c of using that property by the QOF or QOZ enterprise have to be in a QOZ. Applying these two definitions collectively signifies that, during the entire time during which the QOF or QOZ business owns or leases tangible property, a minimal of 63% of using that tangible property should be in a QOZ. In this regard, important bodily work doesn’t embrace preliminary activities such as planning or designing, securing financing, exploring, or researching. For instance, if a manufacturing facility is to be constructed on a site, preliminary activities embrace clearing or testing of soil condition.