CONTACT: Rebecca Podowski, (713) 392-9756
SAN ANTONIO (March 22, 2018) - San Antonio and Bexar County are now open for more opportunity with the recent nomination of 24 census tracts for Opportunity Zone designation, a new program created under the 2018 federal tax reform legislation enacted earlier this year.
Today, Texas Governor Greg Abbott announced his selection of several census tracts in Texas cities to be recommended for Opportunity Zone designation as a means to assist development in those areas through tax deferrals and other tax benefits. The San Antonio census tracts nominated for designation include three tracts in District 10 along the Northeast Corridor and Longhorn Quarry area.
Collaborative efforts between the Mayor’s Office and City Council, City Staff, along with business and community leaders narrowed down all eligible areas to target tracts that showed current and future private sector investment, a utilization of leveraging of public dollars for growth, inclusion in the SA Tomorrow Comprehensive Plan, and areas already under federal designations for economic development as priority for Opportunity Zone designation.
On March 14th, 2018, Councilman Clayton Perry led a delegation to Austin to meet with the Governor’s staff to lobby on behalf of San Antonio. The delegation included Councilwoman Shirley Gonzales, City staff, and business community members.
Councilman Perry championed for the inclusion of the Northeast Corridor (NEC) and the Longhorn Quarry area. These areas have been under coordinated revitalization efforts from public and private investment. Both the NEC and Longhorn Quarry are included in a Tax Increment Reinvestment Zone overlay, TIRZ #33. The Northeast Corridor is included in the SA Tomorrow Comprehensive Plan as a “Community Corridor”, is considered a regional employment center in San Antonio, and is also a component of the VIA Vision 2040 plan.
The NEC and Longhorn Quarry area had three qualified eligible census tracts selected by the Governor’s office. The selected census tracts are identified below:
- 48029121203 - 48029121204 - 48029121205
After hearing the announcement of the census tracts moving forward for Opportunity Zone designation, Councilman Perry remarked: “This is an incredible moment for the Northeast Corridor, Longhorn Quarry area and San Antonio as a whole. Expanding and enhancing the Northeast Corridor Revitalization Plan was one of my top priorities when taking office, and this designation proves that this corridor is special and worthy of investment.”
“The Governor’s office was incredibly gracious to take a meeting with us on short notice and listen to the needs of San Antonio, and I’d like to thank them for that. I know they had very difficult decisions to make regarding where these designations were going to be made across the state, and I sincerely appreciate the hard work and effort that the Governor’s team put into reviewing the information submitted by the various communities.”
“I’d also like to thank the staff at the Department of Planning and Community Development for helping us coordinate a solid presentation on the NEC for the Governor’s office, and for the support from the other leaders who joined me in Austin to advocate for their respective communities. Through the hard work done here at home by a talented group of City staff and community leaders, the City of San Antonio submitted a collaborative application which benefitted all areas of the city.”
“This is proof positive that investing back into our community works and can open doors for businesses and residents alike to experience positive growth in their community. The right people are involved and the right people are paying attention. There’s no better feeling than seeing those efforts recognized. I look forward to seeing great progress and private investment in these Opportunity Zones.”