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AgdaPkt 2018-04-09 Joint SA PFA
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AgdaPkt 2018-04-09 Joint SA PFA
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Last modified
4/10/2018 9:56:09 AM
Creation date
4/5/2018 11:39:15 AM
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CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
4/9/2018
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<br /> <br />April 4, 2018 <br /> <br />Hon. Governor Edmund G. Brown <br />State Capitol, Suite 1173 <br />Sacramento, CA 95814 <br /> <br /> <br />Re: Request to modify Governor Brown's nomination submitted to the U.S. <br />Department of the Treasury on March 21, 2018 designating 879 census tracts <br />as Qualified Opportunity Zones, to exclude Redwood City’s census tract <br />6102.01 and the parcels of census tract 6105 that <br />City. <br /> <br />With the support of the City Council of <br />to respectfully request that you petition Hon. Steven T. Mnuchin, Secretary of <br />U.S. Department of the Treasury to withdraw <br />6102.01 and the Redwood City parcels located in census tract 6105 <br />of 879 census tracts nominated as Qualified Opportunity Zones. <br /> <br />The Tax Cuts and Jobs Act of December 2017 authorizes a tax incentive for <br />investment in low-income <br />effective when reviewed and accepted by the U.S. Treasury. <br />submitted the list of nominated census tracts to the U.S. Treasury on March 21, <br />2018. In general, not later than the end of a 30 <br />that the Secretary of the Treasury (Secretary) receives notice of a nomination, <br />the Secretary may certify the nomination and designate the nominated tract as a <br />QOZ under § 1400Z-l(b)(2) of the <br />State CEO may request to amend the nomination list. <br /> <br />Census tracts 6102.01 and 6105 are located in southern Redwood City <br />many lower-income residents live <br />potential to increase pressure to redevelop th <br /> <br /> <br />Hon. Governor Edmund G. Brown <br />State Capitol, Suite 1173 <br />to modify Governor Brown's nomination submitted to the U.S. <br />Department of the Treasury on March 21, 2018 designating 879 census tracts <br />as Qualified Opportunity Zones, to exclude Redwood City’s census tract <br />6102.01 and the parcels of census tract 6105 that are located within Redwood <br />With the support of the City Council of Redwood City, I am writing you this letter <br />to respectfully request that you petition Hon. Steven T. Mnuchin, Secretary of <br />tment of the Treasury to withdraw Redwood City’s census tract <br />6102.01 and the Redwood City parcels located in census tract 6105 from <br />of 879 census tracts nominated as Qualified Opportunity Zones. <br />Tax Cuts and Jobs Act of December 2017 authorizes a tax incentive for <br />income neighborhoods. The nominated zones will become <br />effective when reviewed and accepted by the U.S. Treasury. Your Office <br />submitted the list of nominated census tracts to the U.S. Treasury on March 21, <br />2018. In general, not later than the end of a 30-day period beginning on the date <br />that the Secretary of the Treasury (Secretary) receives notice of a nomination, <br />tify the nomination and designate the nominated tract as a <br />l(b)(2) of the Internal Revenue Code. However, you, <br />State CEO may request to amend the nomination list. <br />6102.01 and 6105 are located in southern Redwood City <br />income residents live. The Opportunity Zone designation <br />pressure to redevelop the area, without any safeguards in <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />to modify Governor Brown's nomination submitted to the U.S. <br />Department of the Treasury on March 21, 2018 designating 879 census tracts <br />as Qualified Opportunity Zones, to exclude Redwood City’s census tract <br />are located within Redwood <br />, I am writing you this letter <br />to respectfully request that you petition Hon. Steven T. Mnuchin, Secretary of <br />census tract <br />from the list <br />Tax Cuts and Jobs Act of December 2017 authorizes a tax incentive for <br />neighborhoods. The nominated zones will become <br />Your Office <br />submitted the list of nominated census tracts to the U.S. Treasury on March 21, <br />iod beginning on the date <br />that the Secretary of the Treasury (Secretary) receives notice of a nomination, <br />tify the nomination and designate the nominated tract as a <br />Code. However, you, as the <br />6102.01 and 6105 are located in southern Redwood City, where <br />esignation has the <br />without any safeguards in <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />(650) 780-7301 <br />Fax (650) 780-7225 <br />6.1.E. - Page 5
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