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Board approves ranking of three census tracts for Opportunity Zone consideration
Summary
Economic development coordinator Leslie Soder presented recommended rankings for three census tracts; board approved sending the rankings to the governor for Opportunity Zone designation (Sandstone first, Hinckley/Brook Park second, Finlayson/Askov/Rutledge third).
Leslie Soder, Pine County’s economic development coordinator, asked commissioners to approve a recommended ranking of three census tracts for Opportunity Zone designation. Soder explained the designation encourages investment in low-income and rural areas by offering capital gains tax advantages to investors and noted the program was re-enacted in 2025. "What an opportunity zone is is a designation that we're hoping the governor will accept all three of our census tracts as opportunity zones because they provide a way for investors to invest in projects that might not otherwise be a good return on that investment," Soder said.
Soder reviewed criteria—poverty rate, population and median income—and told the board that the ranking was recommended by the county EDA. The board moved, seconded, and approved the rankings to file with the governor’s office: the tract including Sandstone ranked first; Hinckley and Brook Park second; Finlayson, Askov and Rutledge third. Commissioners noted the designation may help recruit developers for large projects and vacant land but cautioned that acceptance by the governor is not guaranteed.
Next steps: staff will forward the ranked list to the governor’s office for consideration; no fiscal action was required at the meeting.
