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Port Orchard authorizes staff to prepare Opportunity Zones 2.0 nominations; short application window noted
Summary
Staff briefed council on Opportunity Zones 2.0 eligibility and the March–April application window. Council asked staff to prepare applications for one or both eligible census tracts, coordinate letters of support (county/tribal partners) and weigh capacity and community benefits before final submission.
City staff told council that the state is accepting nominations for Opportunity Zones 2.0 and that Port Orchard has two eligible census tracts that could be nominated for the program's reboot.
Nick explained the application timeline and stakes: the Department of Commerce application window opens March 11 and closes April 10, and the state has fewer slots than eligible tracts statewide. He noted Port Orchard's prior experience with opportunity-zone designations and investment activity during the first round.
Council members discussed whether to nominate one or both tracts, how much of each tract lies inside city limits, and the importance of letters of support from county commissioners and potentially tribal partners. Staff said the application involves staff time (no application fee) and urged quick coordination. One council member voiced concerns about capacity and about whether opportunity-zone investment can raise property values without delivering commensurate community benefits.
Council direction: move forward with staff preparing applications and seek letters of support while ensuring the city can articulate the intended community benefit. Staff will coordinate outreach and return with a draft application and recommended tract prioritization.
