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Fortuna council authorizes nomination of three census tracts for Opportunity Zone 2.0
Summary
Council voted unanimously to direct staff to submit three Fortuna census tracts for Opportunity Zone 2.0 consideration—priority site covering much of the Mill District/Redwood Village, a southern Mill tract, and a downtown/Riverwalk tract—so the city can pursue federal capital-gains tax incentives to attract private investment.
City planning staff outlined the Opportunity Zone 2.0 nomination process and recommended the council authorize submittal of three eligible census tracts for state consideration under the program. The staff presentation noted Opportunity Zones, established in 2017 under federal tax law and now codified, provide capital-gains tax incentives intended to attract private investment to economically distressed areas.
Staff recommended the highest-priority tract include about 57 of the mill site''s 68 acres and the areas around the Redwood Village Shopping Center; the second-priority tract covers southern portions of the mill site and undeveloped parcels near Strong Street Plaza and Ross Hill Road; the third covers the downtown Riverwalk area. Staff said nominating all three would maximize the city's chance of securing at least one designation and gave the council the option to prioritize. A council member asked how staff set the priority order; staff said it was based on potential benefit for large-scale redevelopment and barriers to private investment.
The council moved, seconded, and voted unanimously to adopt Resolution 2026-28 directing staff to submit nominations in the prioritized order.
