Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Howard County officials briefed on Opportunity Zones 2.0 nomination covering three tracts
Summary
County staff told the commissioners that Big Spring has three census tracts identified as eligible for Opportunity Zones 2.0 and that a nomination packet is due to the governor's office this week; staff asked for the court's support and offered to provide the nomination materials.
Miss Sankey, speaking to the Howard County Commissioners Court, said the state has released an updated map for Opportunity Zones 2.0 and that Big Spring has been identified with three eligible census tracts: 48227950300, 48227950400 and 48227950500. She said the designation process is infrequent and can be a useful tool for rural economic development by encouraging investors and developers to consider projects in those tracts.
"These are typically 10 year time spans, but it's time to update the eligible tracts for Opportunity Zones," Miss Sankey said, and added that the nomination packet is due to the governor's office this week. She told commissioners she had provided a handout with more details and said she would keep the court posted on the application and who would serve as the county's representative on any review panels.
Why it matters: Opportunity zone designations can influence investor decisions and bring tax-incentivized capital to projects in designated census tracts. Miss Sankey urged the court to consider supporting the nomination packet while noting the governor makes the state's selection and then forwards recommendations federally. The court asked to receive any additional materials and offered to provide a letter of support if appropriate.
Next steps: Staff said they would circulate the application materials and asked commissioners to provide input quickly because of the filing deadline to the governor's office.
