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Transylvania County nominates two tracts for Opportunity Zone consideration
Summary
The Board voted unanimously to nominate two census-tract areas — one including Rosman, Balsam Grove and part of Lake Toxaway, and a Brevard-area tract with more water/sewer infrastructure — for the State's Opportunity Zone submission due June 7, 2026, to seek potential tax-incentivized private investment.
The Transylvania County Board of Commissioners on May 26 voted unanimously to nominate two census tracts for potential Opportunity Zone designation in the next state submission cycle.
County Manager Jaime Laughter explained that governors will have 90 days beginning July 1 to nominate up to 25% of eligible low-income census tracts for new designations that take effect Jan. 1, 2027, and remain in place for 10 years. The Opportunity Zone program offers federal tax incentives for investors who reinvest capital gains into qualifying tracts, including tax deferral and, after certain holding periods, reduced or eliminated capital gains on appreciation.
The Board identified two candidate tracts: a larger tract that includes Rosman, Balsam Grove and a portion of Lake Toxaway, and a smaller Brevard-area tract extending toward the Pisgah Forest intersection. Laughter noted the Brevard-area tract has more properties with water and sewer infrastructure, which may make it more attractive to investors. Commissioner Jake Dalton and Commissioner Jason Chappell supported nominating both tracts; Commissioner Chappell said the Brevard-area tract might offer greater opportunity if only one could be chosen.
Commissioner Jason Chappell moved to nominate both tracts; Commissioner Chase McKelvey seconded the motion, and the Board approved the nominations unanimously. The Manager asked for Board input before the county’s submission to the State by the June 7, 2026 deadline.
