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EDC to apply for five opportunity-zone tracts; three nominations are in Clallam County
Summary
EDC staff told the committee they will apply for five census tracts under the state's opportunity-zone program — three in Clallam County — and requested letters of support. The deadline for letters is May 28; members discussed how letters increase scoring and the rural/rural-step-up tax basis incentives.
Economic development staff told the committee the Emerald Coast EDC intends to apply to nominate five census tracts for the state's opportunity-zone designations, and that the application process rewards letters of support from local governments. Staff said three of the tracts under consideration are in Clallam County, describing one area around the Makah/Scribe property and a large Port Angeles tract stretching from the airport through downtown.
Staff noted the state's rules offer a larger step-up in basis for qualifying rural investments (30%) versus urban tracts and outlined other tax-incentive mechanics. Staff also cautioned that letters of support are scored and can improve an application’s competitiveness; the state deadline was announced as May 28.
Committee members asked for the packet of tract maps and asked staff to circulate draft letters in time for council and commission consideration. No formal county commitment was made at the meeting; staff said jurisdictions and tribes would be asked to provide letters of support as the EDC’s application deadline approaches.
