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Council authorizes joint Opportunity Zone 2.0 nomination for 71-acre Dror Road parcel with Kemah
Summary
The council authorized the Economic Development Corporation to work with the City of Kemah to nominate about 71 acres of Dror Road property in the shared ETJ for Federal Opportunity Zone 2.0 designation; Thomas Haaland said the designation would bring incentives and shared sales-tax benefits.
Clear Lake Shores authorized its Economic Development Corporation to work jointly with the City of Kemah to submit a nomination for a Federal Opportunity Zone 2.0 designation for roughly 71 acres along Dror Road that lies in the two cities' shared extraterritorial jurisdiction. Councilman Jeff Terrell moved to approve and Mayor Pro Tem Amanda Fenwick seconded; the council approved the motion unanimously.
Roads and Drainage member Thomas Haaland described the tax-incentive rationale, saying, "No capital gains - group of incentives to come to that area," and noted the two cities would share sales-tax revenue from future development. The minutes record authorization to apply for federal approval; the record does not state any specific developer proposals or timelines tied to the nomination.
