What are Opportunity Zones?

An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the State and that nomination has been certified by the Secretary of the U.S. Treasury and the Internal Revenue Service.

An Opportunity Zone provides a new tool for investors, fund managers and communities by utilizing privately sourced funds into eligible economic development and community re-investment projects.

History

The Tax Cuts and Jobs Act of 2017 was signed into law on December 22, 2017. This act created qualified Opportunity Zones. 879 of the designated Opportunity Zones are in California. Of those 879, four census tracks are in the City of Pomona. These tracts were certified by the U.S. Treasury on April 9, 2018. Their certification is valid for 10 years.

 

Opportunity Zones in the City of Pomona

  • Four census tracks in the City are identified as Opportunity Zones
  • This applies to over 1,608 acres
  • Three census tracks overlap into the City of Pomona’s Corridors Specific Plan,  which provides greater development opportunities to potential developers
  • One census track overlaps into the City of Pomona's Downtown Specific Plan,  which provides greater development opportunities to potential developers

 

 Click on the map to open interactive application

Opportunity Zones Image

 

For More Information

Please visit the State of California, Department of Finance Opportunity Zones website

 

 

NOTICE OF CANCELLATION

PHILLIPS RANCH ASSESSMENT DISTRICT

AD HOC COMMITTEE

Meeting Date: DECEMBER 11, 2018

Meeting Time: 5:00 p.m. -7:00 p.m.

 

NEXT MEETING:

Tuesday, January 8, 2019   

5:00 p.m. – 7:00 p.m.

Administration Board Room

505 S. Garey Avenue, Pomona, CA 91766

 

PUBLIC NOTICE

NOTICE IS HEREBY GIVEN that a meeting will be held on Monday, December 17, 2018 at 7:00 p.m., in the City Council Chambers at City Hall, 505 South Garey Avenue, Pomona, on which there is an item concerning The City of Pomona Report on Development Impact Fees for Fiscal Year Ended June 30, 2018.

Written Report

The City has prepared a report containing details, which is available for Public Review in the City Clerk’s Office located at City Hall, 505 South Garey Avenue and on the City’s website at www.ci.pomona.ca.us.

Questions

For more information about this item, please contact the City of Pomona at (909) 620-2313.

Report for Development Impact Fees

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