HomeMy WebLinkAbout033-26 - Resolution - Opportunity ZoneDocusign Envelope ID: 68B4373C-8B69-8100-83EE-E3E5B9E2394A
RESOLUTION NO. 033-26
A RESOLUTION OF THE CITY OF PORT ORCHARD, WASHINGTON, DIRECTING STAFF TO
PREPARE AND SUBMIT AN APPLICATION FOR OPPORTUNITY ZONE DESIGNATION FOR
CENSUS TRACT 932
WHEREAS, the federal Opportunity Zone (OZ) program was established under the Tax Cuts and
Jobs Act of 2017 to encourage long-term private investment in designated census tracts, and subsequent
federal legislation including the Consolidated Appropriations Act of 2021 has strengthened reporting and
compliance requirements for Qualified Opportunity Funds; and
WHEREAS, the U.S. Department of the Treasury has authorized a new Opportunity Zone
designation cycle in 2026, and updated federal eligibility rules have narrowed qualifying areas statewide;
and
WHEREAS, Census Tract 932 is one of only two census tracts within Port Orchard city limits that
qualifies under the revised 2026 federal eligibility criteria, and designation may provide access to economic
development incentives intended to attract private capital investment, support job creation, and strengthen
local community development outcomes; and
WHEREAS, the City of Port Orchard held a public hearing on April 21, 2026, to solicit community
input regarding whether the City should pursue designation for Census Tract 932, and documented
legislative and community support strengthens the City's competitiveness under the Washington State
Department of Commerce scoring process; and
WHEREAS, the City Council finds pursuing the Opportunity Zone designation for Census Tract 932 is
in the best interests of the City because it aligns with multiple goals contained in the City's Comprehensive
Plan and subarea plans for Sedgwick-Bethel and Bethel -Lund, and carries no direct fiscal impact to the City
but potentially provides economic development as set forth herein; now, therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, HEREBY RESOLVES AS
FOLLOWS:
THAT: It is the intent of the Port Orchard City Council that the recitals set forth above are hereby
adopted and incorporated as findings in support of this Resolution.
THAT: The City of Port Orchard shall prepare, complete, and submit an application to the
Washington State Department of Commerce seeking Opportunity Zone designation for Census
Tract 932, including all required materials necessary to support a competitive nomination during
the 2026 designation cycle. The Mayor or his designee is authorized to take all action consistent
with this authorization to effectuate the direction herein.
PASSED by the City Council of the City of Port Orchard, SIGNED by the Mayor and attested by the
City Clerk in authentication of such passage this 12th day of,.
Robert Putaansuu, Mayor
ATTEST:
Brandy Wallace, MMC, City Clerk