HomeMy WebLinkAboutResolution 26-006 Authorizing an application for an Opportunity Zone DesignationCITY OF SPOKANE VALLEY
SPOKANE COUNTY, WASHINGTON
RESOLUTION NO.26-006
A RESOLUTION OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY,
WASHINGTON, AUTHORIZING AND SUPPORTING AN APPLICATION FOR AN
OPPORTUNITY ZONE DESIGNATION; AND PROVIDING FOR OTHER MATTERS
PROPERLY RELATING THERETO
WHEREAS, in July 2025, the President of the United States signed H.R. 1, the One Big Beautiful
Bill Act, which, among many other initiatives, made Opportunity Zones permanent and established
designation cycles to take place every ten years; and
WHEREAS, it is estimated that investments across the first round of designations are a staggering
$90-100 billion across 5,600 low-income neighborhoods in the U.S.; and
WHEREAS, the City had no designated Opportunity Zones under the first round; and
WHEREAS, the Washington Department of Commerce is accepting applications from April 28 to
May 28, 2026 for second round nominations; and
WHEREAS, the City strongly supports securing an Opportunity Zone designation for one of our
five eligible Census Tracts; and
WHEREAS, the City has determined that Census Tract 53063012300 (Tract 123) demonstrates the
strongest need for investment, has properly zoned land available, and offers additional incentives to further
leverage the investment. Investment in this Census Tract meets all Community Plans and goals.
NOW THEREFORE, be it resolved by the City Council of the City of Spokane Valley, Spokane
County, Washington, as follows:
Section 1. Authorization to submit Opportunity Zone Designation Application. City Council
authorizes the City Manager or designee to complete and submit an application to the Washington State
Department of Commerce for Tract 123. This Resolution and a Letter of Support may accompany the
application.
Section 2. Effective Date. This Resolution shall take effect immediately upon its passage and
approval.
ADOPTED by the City Council on this 12°i day of May 2026.
ATTEST: CITY OF SPOKANE VALLEY
URI t I' "'i
Marci atterson, ity Clerk Laura Padden, Mayor
Approved as to f
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Offic f the Ct Attorney
Resolution No. 26-006 - INTENTION TO APPLY FOR AN OPPORTUNITY ZONE DESIGNATION
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Spolia
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May 12, 2026
10210 E Sprague Ave. • Spokane Valley, WA 99206
(509) 720-5000 • Fax (509) 720-5075 o cityhall@spokanevalley.org
Dear Governor Bob Ferguson and Department of Commerce,
On behalf of the Spokane Valley City Council, we are writing in support of the City's
application for an Opportunity Zone nomination and future designation in the City of
Spokane Valley. An Opportunity Zone designation provides the City of Spokane Valley with
the unique opportunity to leverage our local public investments, state initiatives, and private -
sector investments in our lowest -income Census Tract, which is home to a large at -risk
population.
A designation will leverage WSDOT investments in I-90 and US 395, help implement new
GMA goals and policies to better serve disadvantaged communities, and spur investment in
new affordable housing. This designation will also leverage Spokane Transit's recent
investment in a High -Performance Transportation route serving a large proportion of
residents without cars. It will also build on the city's actions taken a few years ago to remove
barriers to housing infill development by adopting a SEPA Planned Action for housing
development in this area. This fall, the City intends to evaluate adding a WA State Multi -
Family Tax Exempt target area for this Census Tract to encourage homeownership, as well
as mixed -income rental projects targeting units for low-income and workforce households.
When adding rooftops to this area, we should see an expansion of our year-round indoor
farmers market at the Conservation District, and/or attract private investment to offer
groceries in this USDA -designated Food Desert.
As a city focused on fostering economic development, we greatly value what an Opportunity
Zone could bring to the community and look forward to actively promoting the incentive and
exploring new and innovative ways to make the area increasingly attractive to private
development. Our goal is to interrupt the cycle of poverty and improve the quality of life for
our citizens.
Though cities and organizations within our region are submitting individual applications,
please note that those of us in Spokane County have been working diligently to coordinate
our efforts and outreach, and to understand the benefits of each of the census tracts
nominated for your consideration. We believe you will find the nominations from Spokane
County will leverage community assets and resources, and are poised to attract private
investment.
We have enclosed Resolution 26-006 in support of our Nomination Application. Please
accept our heartfelt thanks for considering what this designation can do for our community.
Sincerel
Laura Padden, Mayor
On behalf of the City of Spokane Valley Council