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Eureka council backs nomination of three census tracts for Opportunity Zone 2
Summary
City staff recommended and the Eureka City Council unanimously approved a resolution supporting state nomination of three local census tracts for the Opportunity Zone 2 program to attract private capital with capital‑gains tax incentives; staff emphasized the designation does not change zoning rules.
Sarah West, Eureka’s project manager for economic development, told the council the state’s Opportunity Zone 2 process is a competitive, 10‑year designation intended to spur private investment in low‑income communities through capital‑gains tax incentives. West said the program is a financial incentive only and does not alter local zoning or land‑use regulations.
West recommended the city submit three of its four eligible census tracts — abbreviated in staff materials as 100, 500 and 400 — and explained tract 100 (downtown/Old Town and waterfront areas) was the top pick because it contains more developable and housing‑element‑identified sites. She said tract 800 was not recommended because it includes wide areas of single‑family neighborhoods and baylands that weakened the competitiveness of that tract.
Council members asked how the city would draw investor interest if the designation is granted and whether the Opportunity Zone selection could pair with state incentives such as climate resilience districts. West said staff plans to test the new program locally, identify priority parcels, work with regional partners and, where applicable, highlight scoring points such as existing or planned resilience districts.
The council voted unanimously to adopt a resolution supporting the city’s nomination. West noted the state application period closes July 25 and that selected designations would run roughly 2027–2037.
