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Opportunity Zone Nominations

At a glance

  • What: The City's recommendations to the Governor for the next round of federal Opportunity Zone designations. An Opportunity Zone is an economically distressed community, designated by the Governor, where new investments may receive preferential tax treatment under certain conditions.
  • Where it stands: Briefed at the June 2, 2026 work session as an informational item. No vote was taken. Staff said recommendations were due to the Governor's Office by June 10, 2026.
  • Next: The Governor selects the zones; the record we have shows no later Council action.

What staff presented

Lorena Riffo-Jenson gave an overview of recent program changes, which focus incentives on long-term investment in low-income communities through local hiring, anti-displacement measures, anti-abuse protections and enhanced public reporting.

Colin Gibbs outlined the nomination process and timeline: one census tract from each of seven areas goes forward for the Governor's consideration. Evaluation criteria were targeted industry investment, alignment with regional economic development goals, transit access and community readiness, plus coordination with regional partners and developer outreach.

Proposed priority rankings: Ballpark; Poplar Grove North (including the Power District); Northwest Quadrant; Glendale; Fairpark; Rose Park; Central City Northwest.

Discussion

Council Members, Nick Norris, Riffo-Jenson and Rachel Otto discussed:

  • Zone boundaries based on census tracts and previously designated Opportunity Zones.
  • Tax incentives available to developers, which would not affect City tax revenue.
  • Ways to maximize long-term community benefit through stakeholder engagement and targeted investment.
  • Choosing the recommended Glendale tract based on community feedback and economic development readiness.

Sources

Log

2026-06-02 - City Council Work Session

Informational briefing on the Opportunity Zone program and the proposed ranking of seven areas for nomination.