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EDC seeks county letter supporting Opportunity Zone application for five census tracts
Summary
Mitch of the local Economic Development Council requested a county letter of support for an Opportunity Zone application covering five census tracts spanning Clallam and Jefferson counties; commissioners discussed outreach and welcome strategies for investors and agreed to place the letter on the consent agenda.
Mitch (S10) of the Economic Development Council asked the board for a letter of support for an Opportunity Zone application that would designate five census tracts across Clallam and Jefferson counties for investment incentives.
"We're planning to apply later this week on the 28th, and we're collecting letters of support," said Mitch. He described the program as incentivizing reinvestment of capital gains into census tracts in exchange for tax advantages and said the EDC would handle marketing and outreach to investors.
Commissioners discussed how county leaders could support investors by showing unified local-government engagement and providing public-investment planning so that Opportunity Funds can leverage private investment. A commissioner cited a past local example where an Opportunity Zone contributed to downtown revitalization.
The EDC noted one census tract identifier (5300900240) for internal reference and said they would roll out a marketing plan and website presence for the designated area. The board agreed to include a letter of support on the regular meeting consent agenda.
