RESOLUTION NO. 2026-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CAMARILLO SUPPORTING THE CITY'S APPLICATION FOR
OPPORTUNITY ZONE 2.0 NOMINATION AND AUTHORIZING
SUBMITTAL OF A LOCAL AUTHORITY RECOMMENDATION
FORM FOR CENSUS TRACT 06111005502
The City Council of the City of Camarillo (“City”) resolves as follows:
SECTION 1. Findings. The City Council finds as follows:
A. The federal Opportunity Zone program was established to encourage reinvestment of capital gains into economically distressed communities by offering preferential federal tax treatment for qualified investments located within designated low- income census tracts.
B. The Opportunity Zone program has been extended and expanded through federal legislation commonly referred to as Opportunity Zone 2.0, and new census tract designations are expected to take effect on January 1, 2027, for a ten-year designation period.
C. The State of California, through the Governor's Office of Business and Economic Development and the California Department of Finance, is conducting a competitive process to evaluate eligible census tracts for nomination to the United States Department of the Treasury.
D. The California process allows local jurisdictions to submit Local Authority Recommendation Forms in support of eligible census tracts located within their boundaries, together with local information regarding economic need, investment readiness, housing capacity, regional priorities, and other factors that may support designation.
E. Census Tract 06111005502 is located within the incorporated boundaries of the City and is eligible for consideration through the Opportunity Zone 2.0 nomination process.
F. Census Tract 06111005502 includes a targeted commercial and redevelopment area that is strategically located near the U.S. 101 corridor, North Lewis Road, and the Camarillo Commons Specific Plan area, and contains underutilized properties that may benefit from long-term private investment.
G. The City Council has established a goal to focus on the potential incremental redevelopment of the Camarillo Commons Specific Plan area by affirmatively engaging property owners in the Plan area and identifying incentives or market-based solutions that could facilitate redevelopment.
H. Consistent with that City Council goal, staff has conducted outreach with Camarillo Commons property owners, developers, and brokers to understand ownership conditions, redevelopment interest, site constraints, and factors affecting potential reinvestment, sale, or repositioning of long-held properties.
I. That outreach has consistently indicated that existing property owners' tax basis, potential capital gains exposure, and related property disposition considerations are the single largest market-based hurdle to reinvestment, sale, or repositioning of long- held properties within the Camarillo Commons Specific Plan area.
J. An Opportunity Zone 2.0 designation is directly responsive to this hurdle because the federal incentive is tied to capital gains tax treatment and long-term private investment, and could therefore help address a market condition that traditional land use planning tools alone do not resolve.
K. Opportunity Zone 2.0 designation could complement other public financing, infrastructure, and redevelopment tools by attracting tax-advantaged private equity capital to support reinvestment in underutilized commercial corridors, mixed-use development, workforce and affordable housing feasibility, local business growth, and infrastructure-supportive redevelopment.
L. The Camarillo Commons Specific Plan area supports additional housing opportunities and the City's Regional Housing Needs Allocation objectives, including through sites identified in the City's housing planning documents for future residential capacity.
M. The City's nomination request also supports regional and statewide economic development priorities, including California Jobs First priorities, business-ready sites, aerospace and defense innovation, advanced air mobility, workforce development, and related regional assets such as the HIVE Autonomous Innovation Center and Area 805 Advanced Air Mobility Test Range.
N. Based on the staff report accompanying this Resolution, which is incorporated herein by reference, the City Council finds that supporting the City's application for Opportunity Zone 2.0 nomination of Census Tract 06111005502 is in the public interest and advances the City's economic development, housing, redevelopment, and regional partnership objectives.
SECTION 2. Support for Opportunity Zone 2.0 Nomination. The City Council supports the City's application for Opportunity Zone 2.0 nomination of Census Tract 06111005502 and authorizes submittal of a Local Authority Recommendation Form for the census tract.
SECTION 3. Authorization. The City Manager, or designee, is authorized to execute and submit the Local Authority Recommendation Form and any related application materials, maps, data, letters, or supplemental information necessary to support the City's Opportunity Zone 2.0 nomination request.
SECTION 4. Additional Administrative Actions. The City Manager, or designee, is authorized to coordinate with the Governor's Office of Business and Economic Development, the California Department of Finance, regional partners, legislative representatives, property owners, developers, brokers, and other stakeholders to support the City's nomination during the competitive state review and any subsequent process related to the nomination.
SECTION 5. Conflicts with Earlier Resolutions. To the extent any provision of this Resolution is incompatible or varies with any resolution previously adopted, this Resolution will take precedence, and all earlier resolutions will be interpreted to harmonize with and not change this Resolution.
SECTION 6. Effective Date. This Resolution will take effect immediately upon adoption.
SECTION 7. CEQA Determination. The City Council finds that this action is not a project as defined under the California Environmental Quality Act because it authorizes support for a nomination application and administrative submittal only and does not approve or commit the City to any physical development. Independently, the City Council finds that this action is exempt from environmental review pursuant to Section 15061(b)(3) of the California Environmental Quality Act Guidelines because it can be seen with certainty that the action will not have a significant effect on the environment.
SECTION 8. That the City Clerk is directed to certify the adoption of this Resolution.
PASSED AND ADOPTED July 8, 2026.
Mayor
Attested to on _____________________.
Acting City Clerk
I, Silvia Jaquez, Acting City Clerk of the City of Camarillo, certify Resolution No. 2026-____ was adopted by the City Council of the City of Camarillo at a regular meeting held on July 8, 2026, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
Acting City Clerk
c: Finance (2)
Public Works