HomeMy WebLinkAboutOZ Presentation 6.23.26 FINALBozeman City Commission Tuesday, June 23, 2026
What is an Opportunity Zone?
•The Tax Cuts and Jobs Act of 2017 established a new economic
development program called Opportunity Zones designed to
encourage long-term private investments in low-income census
tracts. Opportunity Zones provide a federal tax incentive for
taxpayers who reinvest unrealized capital gains into “Opportunity
Funds,” which are specialized vehicles dedicated to investing in
low-income areas called “Opportunity Zones.”
•The zones themselves are comprised of federally eligible low-
income community census tracts and designated by governors in
every state and territory. The program has the potential to direct
private capital toward distressed community census tracts and
serve as a catalyst for long-term economic development. This may
include downtown revitalization, workforce development, affordable
housing, infrastructure, and business startup and expansion.
Why are Opportunity Zones important to
Bozeman?
•Catalyzes private investment and job creation: Opportunity Zone
designation can attract long-term private capital to Bozeman,
encouraging new business development, expanding the tax base, and
creating high-quality jobs for residents.
•Supports workforce and housing development: By incentivizing
investment in underutilized areas, Opportunity Zones can help finance
workforce housing, mixed-use developments, and infrastructure
improvements that address growth pressures.
•Strengthens regional economic resilience and competitiveness:
Opportunity Zone incentives can accelerate investment in emerging
industries, innovation hubs, and local entrepreneurs, diversifying
Bozeman’s economy and positioning the city for sustained long-term
growth, grow existing businesses and remain competitive as a
community within which to invest capital.
Staff Recommendation Priority 1
Gallatin County Tract 6
Gallatin County Tract 11.02
Staff Recommendation Priority 2
Gallatin County Tract 11.02
Staff Recommendation Priority 2
Short Timeline and Turnaround for
Application Materials
•Economic Development staff was wade aware of the Montana
Department of Commerce Opportunity Zone application deadline on
Tuesday, June 9, 2026.
•Staff could not prepare the materials in time to meet the packet
deadline for the June 16, 2026, City Commission meeting and the
June 30, 2026 City Commission meeting is cancelled. June 23rd
was the only City Commission meeting date we could get the
Opportunity Zone application to the City Commission before the
submittal deadline of July 7, 2026.
Motion Language
I move to authorize the City Manager to
sign the Opportunity Zone Proposal and
submit to the Montana Department of
Commerce.
Questions?
Mustang
by Jim
Dolan
A gift to the
people of
Kopychyntsi
Motion Language
I move to authorize the City Manager to
sign the Opportunity Zone Proposal and
submit to the Montana Department of
Commerce.