Title
A Resolution supporting the State of Missouri Opportunity Zone Designation for the City of Lee's Summit, Missouri.
Body
Issue/Request:
Approval of a resolution supporting submission of Census Tract 13706 to the State of Missouri for consideration for federal Opportunity Zone designation.
Proposed City Council Motion:
I move to approve the Resolution.
Background:
Opportunity Zones were created under the Tax Cuts and Jobs Act. Updated legislation allows for new designations.
In Missouri, the Missouri Department of Economic Development reviews nominations; the Governor makes final selections.
Presenter
Jessica Vandivort de Montiel, Assistant Director of Grants & Administration
Recommendation
Staff recommends approval of the resolution as presented