Agenda Item # 3
Columbus Consolidated Government
Council Meeting
01/27/2015
Agenda Report # 71
TO: Mayor and Council
SUBJECT: Opportunity Zone Application
INITIATED BY: Planning Department
Recommendation: Adopt the resolution authorizing the Planning Department to
submit an Opportunity Zone application to the Georgia Department of Community
Affairs.
Background: The opportunity zone is a tax credit program sponsored by the
Georgia Department of Community Affairs. This is a program that offers state
tax credits based on job creation in low to moderate income areas. The intent
is help redevelop blighted areas in older neighborhoods or commercial corridors
and to attract jobs. To be considered for this zone, an area must be within the
Enterprise Zone; contain 15 percent or more of the population in poverty; be an
area of pervasive poverty, blight underdevelopment, and general distress; and,
an area that has a high crime rate, unemployment, or low education and income.
The Planning Department has assembled an application which is required in order
to be designated.
Analysis: On January 13, City Council was briefed on the opportunity zone
application. The benefits for such a program would encourage the development
of new businesses in these areas, while offering a maximum of $3,500 tax credit
per job created. Only the state can authorize the designation and approval of
these zones.
Financial Considerations: If approved, the Opportunity Zone would provide
state tax abatements to qualified businesses, while promoting economic
development in low to moderate income areas.
Projected Annual Fiscal Impact Statement: There is no anticipated annual
fiscal impact to city's budget.
Legal Considerations: The City Attorney has reviewed and approved the
submission for this application.
Recommendations/ Actions: Adopt the resolution authorizing the Planning
Department to submit an Opportunity Zone application to the Georgia Department
of Community Affairs
A RESOLUTION
NO. _____
A RESOLUTION AUTHORIZING THE SUBMISSION OF AN OPPORTUNITY ZONE APPLICATION TO
THE GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS.
WHEREAS, the Council of Columbus, Georgia, desires to create the proper
economic and social environment to induce the investment of private resources
in productive business enterprises located in an area meeting criteria
determined by the Georgia Department of Community Affairs; and,
WHEREAS, the Council hereby authorizes the application authored by the Planning
Department to be submitted to the Department of Community Affairs.
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY RESOLVES AS FOLLOWS:
That the Planning Department is hereby authorized to submit on behalf
of the Columbus Consolidated Government an application for the establishment of
an Opportunity Zone to the Georgia Department of Community Affairs. The Mayor
and City Manager or their representatives are further authorized to execute any
documents necessary to facilitate said application.
_____________
Introduced at a regular meeting of the Council of Columbus, Georgia, held
the _________ day of _____________ 2015, and adopted at said meeting by the
affirmative vote of
_____________ members of said Council.
Councilor Allen voting __________.
Councilor Buck voting __________.
Councilor Henderson voting __________.
Councilor Huff voting __________.
Councilor McDaniel voting __________.
Councilor Turner Pugh voting __________.
Councilor Woodson voting __________.
______________________________
_________________________
Tiny B. Washington, Clerk of Council , Mayor
Attachments
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