Loading...
HomeMy WebLinkAboutPCD 2026-05-11 Item 1C - Resolution - Support Designation of Certain Census Tracts as Opportunity ZonesCity of Tukwila Thomas McLeod, Mayor Marty Wine, City Administrator AGENDA BILL ITEM NO. 1.C. Agenda Item Sponsor Legislative History Resolution in Support to Designate Opportunity Zones Derek Speck, Economic Development Administrator May 11, 2026 May 18, 2026 Planning & Community Development Committee Regular Meeting Consent Recommended Motion ❑ Discussion Only ❑x Action Requested MOVE TO approve resolution expressing support to designate opportunity zones. EXECUTIVE SUMMARY This item seeks Council approval of a resolution requesting Governor Ferguson nominate eligible census tracts in Tukwila to be designated as opportunity zones. DISCUSSION Opportunity zones are federally designated census tracts approved for a special federal tax incentive to encourage investment in low-income communities. In 2025 the federal government revised the program to designate new census tracts effective January 1, 2027. Eligible census tracts must be nominated by each State's governor by September 28, 2026. The Washington State Department of Commerce is coordinating an application process to support the Governor and is accepting applications that nominate census tracts. Applications are due May 28, 2026 and the City has started working on our applications. Commerce's application process includes a point system and allocates up to 5 points (out of a possible total of 185) if the application includes a local government resolution or letter of support. The opportunity zone designation process will be very competitive because governors may only nominate 25% of the census tracts that are eligible in their state. Tukwila has eight eligible census tracts of which three are fully within the City and five include portions of our neighboring cities. Staff requests Council approval of the attached resolution to use in the application process. ATTACHMENTS • Draft Resolution 17 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, SUPPORTING THE NOMINATION OF CERTAIN ELIGIBLE CENSUS TRACTS FOR DESIGNATION UNDER THE NEW OPPORTUNITY ZONES PROGRAM (OZ 2.0) IN THE CITY OF TUKWILA. WHEREAS, the Federal Opportunity Zone Program is a Federal Tax Incentive created as part of the Tax Cuts and Job Acts in 2017 to encourage private investment in low-income census tracts ("Opportunity Zones"); and WHEREAS, in 2025, the Federal Government revised the Opportunity Zone Program and the new program ("OZ 2.0") will take effect on January 1, 2027; and WHEREAS, as a requirement of the new program, State Governors must nominate census tracts to become Opportunity Zones; and WHEREAS, Washington State requires submissions for consideration by the governor to be submitted by May 28, 2026; and WHEREAS, certain census tracts within the City of Tukwila continue to experience economic challenges; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. The City of Tukwila has experienced new development under the current Opportunity Zone Program and desires to attract future development under the revised Opportunity Zone Program. Section 2. The City Council of the City of Tukwila hereby endorses the nomination of the census tracts 530330-262-00, 530330-263-00, 530330-264-00, 530330-271-00, 530330-272-00, 530330-273-00, 530330-281-00, and 530330-282-00 to be designated as Opportunity Zones under the revised program as reflected on the map attached as Exhibit A and incorporated herein by reference. 2026 Legislation: Supporting Opportunity Zones Version: 05-05-2026 Staff: D. Speck Page 1 of 2 18 PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at a Regular Meeting thereof this day of , 2026. ATTEST/AUTHENTICATED: Andy Youn-Barnett, CMC, City Clerk Armen Papyan, Council President APPROVED AS TO FORM BY: Office of the City Attorney Attachment: Exhibit A — Map of Census Tracts 2026 Legislation: Supporting Opportunity Zones Version: 05-05-2026 Staff: D. Speck Filed with the City Clerk: Passed by the City Council: Resolution Number: Page 2 of 2 19 Census Tracts CT 280 CT 287 CT 109 CT 288.01 CT 246.01 0,02 \CT 111.0?,\ CT 111.02 T 110.0i It ivla^sr.a;t Nl mi CT 246.02 CT117 CT 288,02 CT 118.01 CT 118.02 WA 5 CT 119.02 CT 260.0 CT 261.02 CT 261.01 T 292.06 T 260.0 CT 253.04 CT 27.04 CT 257.0 CT 293.09 CT 293.05 Kent CT 255 CT 257 CT 258.04 CT 258.03 CT 247.03 T 250.!` T 250.0 CT 252.02 CT 254.0 1 j!` CT 254.02�a CT 256,01 CT 257.04 CT 258.05 CT 293.0 CT 293.06 02 CT 293.04 T 293.07 CT 292.07 i CT 294.03 CT 294.05 0 City Boundary - Eligible Census Tracts 0 I *IV"! 530330-262-00 (CT 262) 530330-272-00 (CT 272) o 530330-263-00 (CT 263) 530330-273-00 (CT 273) 530330-264-00 (CT 264) 530330-281-00 (CT 281) 530330-271-00 (CT 271) 530330-282-00 (CT 282) Tract Boundary 1;69,047 0.5 1 0.75 1.5 Source: U.S. Census Bureau, Sources: Esri. USGS, NOAA 2 mi 3 km 20 Created with: TIGERweb (c)Copyright 2026 • US Census Bureau