City Council

7.d. CONSIDERATION AND APPROVAL OF RESOLUTION NO. 26-055, SUPPORTING NOMINATION OF FOUR CENSUS TRACTS FOR FEDERAL OPPORTUNITY ZONE 2.0 DESIGNATION recommend the nomination of four qualifying census tracts to the California Governor’s Office of Business and Economic Development (GO-Biz) for designation as Federal Opportunity Zones 2.0. This designation is a critical strategic component of the City’s robust economic development efforts, designed to leverage millions of dollars in recent and planned capital improvement projects to attract high-value industrial and commercial investment, including new headquarters and overseas business operations. RECOMMENDED ACTION: Staff recommends that the City Council adopt the Resolution No. 26-055, recommending the nomination of four identified census tracts for Opportunity Zone 2.0 designation by the State of California.