Case File 26-0569
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Discussion and action authorizing City Manager, or designee, to submit nominated census tracts within the City of El Paso to the Texas Governor's Economic Development and Tourism Office for consideration for designation as Opportunity Zones in alignment with the City’s Strategic Planning process.
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Actions
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Verify amended Opportunity Zone tract meets IRS rules
Context: Representative Niño's amendment altered Item 6 before an 8-0 final vote to 'Approve as Revised,' meaning the nominated tract's boundaries changed between introduction and passage.
Recommended: Pull the Item 6 amendment language and confirm the revised census tract boundaries still satisfy federal low-income-community eligibility under IRC Section 1400Z-1 — a technical defect here would void the tax deferral benefit for anyone relying on this designation.
Check if your site landed in the amended tract map
Applies if: you own or are evaluating a site within the city's nominated census tract
Context: Item 6 was amended 8-0 and then adopted 'as Revised' 8-0 in the same May 11 session, confirming the boundaries in the final version differ from what was originally filed.
Recommended: Request the final boundary map attached to Item 6 as approved (not the original filing) to see whether specific parcels were added or dropped in the amendment — inclusion qualifies capital gains reinvestment there for Opportunity Zone deferral and basis step-up.
Get Niño's statement behind the Opportunity Zone amendment
Context: Minutes note Representative Niño requested an abstract of his statements be attached even though his own amendment and the final item both carried 8-0 with no dissent.
Recommended: File a records request for the abstract of Representative Niño's remarks that he specifically asked to have attached to the minutes — an unusual move for the sponsor of an amendment that passed unanimously, and worth knowing what he wanted preserved on the record.
Key Entities
Timeline
A motion was made by Representative Fierro, seconded by Representative Limón, to Approved as Revised the item. The motion carried by the following vote:
Discussion and action authorizing City Manager, or designee, to submit nominated census tracts within the City of El Paso to the Texas Governor's Economic Development and Tourism Office for consideration for designation as Opportunity Zones in alignment with the City’s Strategic Planning process.
Vote: 8 for, 0 against
approve Opportunity Zone resolution as amended, authorizing City Manager to submit nominated census tracts to Texas Governor's office
Representative Niño requested an abstract of his statements be attached to the minutes