{"id":69466,"date":"2018-03-24T07:04:16","date_gmt":"2018-03-24T15:04:16","guid":{"rendered":"https:\/\/eastcountytoday.net\/?p=69466"},"modified":"2018-03-26T06:01:55","modified_gmt":"2018-03-26T14:01:55","slug":"antioch-land-tract-area-approved-for-inclusion-in-state-opportunity-zones-initiative","status":"publish","type":"post","link":"https:\/\/eastcountytoday.net\/antioch-land-tract-area-approved-for-inclusion-in-state-opportunity-zones-initiative\/","title":{"rendered":"Antioch: Somersville Towne Center Area Approved For Inclusion in State Opportunity Zones Initiative"},"content":{"rendered":"<p>Brentwood, CA &#8212; Contra Costa County Board of Supervisor <strong>Diane Burgis<\/strong> is pleased to announce that Antioch land tracts nominated for Governor Brown\u2019s designation as Opportunity Zones were included in the March 22nd submission to the federal government.<\/p>\n<p>Opportunity Zones incentivize development by deferring or eliminating federal capital gains taxes. A successful designation could lead to improvements and redevelopment at the mall and in the surrounding areas.<\/p>\n<p>Supervisor Burgis remarked, \u201cI\u2019ve spoken with Antioch business and city leaders and I know that the Somersville mall area is a priority for the city. We worked together with the City, State Senator Steve Glazer\u2019s office, the Antioch Chamber of Commerce, and the mall\u2019s executive team to coordinate comments to California\u2019s Department of Finance. I\u2019m pleased that our collaboration proved successful.\u201d<\/p>\n<p>\u201cWe&#8217;re pleased that the Governor&#8217;s office has recognized the benefit of increasing the number of Opportunity Zones in Antioch. We&#8217;re doing all we can to partner with our business owners to redevelop underperforming commercial centers and neighborhoods. This financial incentive for investors is another tool that can be used toward achieving continued economic development and job creation in Antioch and our region,\u201d said <strong>Ron Bernal<\/strong>, City Manager.<\/p>\n<p>Antioch Mayor<strong> Sean Wright<\/strong> adds, &#8220;I am excited to see collaboration pay off in a big win for Antioch.\u00a0 Our inclusion in the opportunity zones will help to create investment and redevelopment of vital areas in our community.&#8221;<\/p>\n<p>From the business community, Somersville Towne Center General Manager <strong>Julie Neward<\/strong> offers, \u201dSomersville Towne Center is appreciative of the efforts made by the local Community Leaders to add the census tracts in the Somersville District to the Federal Opportunity Zone Program, which will offer a driver for economic growth in the area, thereby supporting the local community through employment and business offerings. \u201c<\/p>\n<p>According to the <a href=\"http:\/\/dof.ca.gov\/Forecasting\/Demographics\/opportunity_zones\/documents\/California_Opportunity_Zones_Designation.pdf\">March 21 letter<\/a> by Governor Jerry Brown, California has a total of 3,5 qualified census tracts, the governor has developed the list down to 879 census tracts that represent 57 of California\u2019s 58 counties.<\/p>\n<p>For more information about the Opportunity Zones in California visit: <a href=\"http:\/\/dof.ca.gov\/Forecasting\/Demographics\/opportunity_zones\/index.html\">http:\/\/dof.ca.gov\/Forecasting\/Demographics\/opportunity_zones\/index.html<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brentwood, CA &#8212; Contra Costa County Board of Supervisor Diane Burgis is pleased to announce&hellip;<\/p>\n","protected":false},"author":2,"featured_media":69377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[229,8910],"tags":[855,559,35,110,21861,21862,549,18570,7413,17976],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.2.1 - 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