Title
Approval of a Resolution to Submit an Opportunity Zone II application to the Georgia Department of Community Affairs (DCA).
Presented by Alice Wakefield, Community Development Director
Body
Item Summary:
A new Opportunity Zone II area was drafted coinciding with the boundaries of the 2013 Urban Redeveloment Plan. The area was chosen because it met the statutory criteria for inclusion. Situated at the northern end of the City along both sides of State Road 9, the area extends east to the city limits and south to the boundary of the original Opportunity Zone. By applying for a new zone, the 10-year effective period will start at the time of DCA zone approval. If the original Opportunity Zone had been amended, the effective period would have started in 2010 and ended in 2020. The application is expected to take one to two months to complete and submit to DCA.
Committee or Staff Recommendation:
On February 27, 2013, the Community Development and Transportation Committee recommended placing this Item on the March 11, 2013 Mayor and Council Agenda.
Financial Impact:
N/A
Presented by:
Alice Wakefield, Community Development Director