Form Rev 9/30/2025
RESOLUTION NO. __________
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA RECOMMENDING THAT THE GOVERNOR’S
OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT
INCLUDE EIGHT (8) CENSUS TRACTS LOCATED IN
WESTERN CHULA VISTA AS PART OF THE STATE’S
RECOMMENDATION FOR THE OPPORTUNITY ZONE 2.0
PROGRAM
WHEREAS, since 2018, Opportunity Zones have been allowed under the 2017 Tax Cuts and Jobs Act and consist of economically distressed communities where investments in development projects can earn preferential federal tax benefits, such as capital gains deferral and tax-free appreciation; and
WHEREAS, under the existing Opportunity Zones 1.0 program established under the 2017 Tax Cuts and Jobs Act, three (3) census tracts in western Chula Vista have bee n designated as Opportunity Zones; and
WHEREAS, the Opportunity Zones initiative has recently been made permanent by the 2025 Working Families Tax Cuts Act, which allows for new Opportunity Zones 2.0 to be created for the period beginning January 2027 through December 2036; and
WHEREAS, the California Governor’s Office of Business and Economic Development has preliminarily recommended that three (3) census tracts in Chula Vista be included for consideration by the U.S. Department of the Treasury for consideration as part of the Opportunity Zones 2.0 program; and
WHEREAS, in addition to the three (3) census tracts preliminarily recommended by the Governor’s Office of Business and Economic Development , five (5) additional census tracts warrant consideration for inclusion in the Opportunity Zones 2.0 Program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, that it recommends that the California Office of Business and Economic Development recommend to the U.S. Department of the Treasury that the following eight (8) census tracts be included in the Opportunity Zones 2.0 Program: 06073012302, 6073012501, 06073012502 , 06073012600, 06073012700, 06073013104, 06073013205, and 06073013206.
Presented by Approved as to form by
Tiffany Allen Marco A. Verdugo
City Manager City Attorney