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Pine County endorses ranking of three census tracts for Opportunity Zone designation
Summary
Economic development coordinator Leslie Soder recommended, and the board approved, ranking three census tracts (Sandstone; Hinckley/Brook Park; Finlayson/Askov/Rutledge) to send to the governor for Opportunity Zone designation consideration.
Leslie Soder, Pine County’s economic development coordinator, asked the board to approve the county’s ranking of three census tracts for possible Opportunity Zone designation under state selection rules.
Soder said the designation can help attract investors by offering capital-gains tax incentives and noted that Timber Pines Senior Living cited Opportunity Zone status as one factor that helped attract investment. She explained the ranking is based on census criteria such as poverty rate, population and median income, and that the county’s previous 2017 submittal had all tracts accepted but the reauthorization limits the governor’s choices to a subset.
"I'm asking for your consideration and approval of the ranking of the census tracts to be designated as opportunity zones," Soder said, listing the county’s recommended order: first the tract encompassing Sandstone; second, the tract covering Hinckley and Brook Park; and third, the tract including Finlayson, Askov and Rutledge.
The board moved, seconded, and approved the ranking to forward to the HRA/EDA board and the governor’s office. Commissioners offered general support and no substantive amendments; the vote was by voice and the ranking will be transmitted as the county’s recommendation.
