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Ripon council authorizes staff to apply for Opportunity Zone 2.0 designation
Summary
Council authorized staff to prepare and submit an application for the state’s Opportunity Zone 2.0 program, citing potential private investment benefits for eastern Ripon and adjacent townships; staff noted there is no application cost and the deadline is the 31st.
The Ripon Common Council voted to authorize city staff to prepare and submit an application for Opportunity Zone 2.0, a federal capital-gains incentive program being administered at the state level.
Agency official summarized the program background and said the governor’s office will nominate zones in the state; Ripon’s packet shows portions of the city’s eastern side and nearby township areas are eligible. The official said the city has work already done — housing studies, economic development reports and comprehensive planning — that position it to be competitive in a second round of designations.
Council members expressed support and noted there is limited downside to applying because it carries no application cost and can provide another tool to attract private investment. The official said applications are due on the 31st and asked for council authorization to begin the work; the motion passed by voice vote.
What’s next: staff will prepare the application and submit it by the stated deadline if authorized. The council did not set any additional conditions in its authorization.
