Supervisor WALDRON offered the following Resolution and moved its adoption:

RESOLUTION REQUESTING THAT GOVERNOR ANDREW CUOMO DESIGNATE CENSUS TRACTS WITHIN THE CITY OF GLOVERSVILLE AS OPPORTUNITY ZONES AS AUTHORIZED BY THE TAX CUTS AND JOB ACTS OF 2017

WHEREAS, Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low income urban and rural communities nationwide; and

WHEREAS, the Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory; and

WHEREAS, six census tracts within the City of Gloversville are eligible for designation by Governor Andrew Cuomo as an Opportunity Zone, identified as the following tracts in the 2010 census: 36035970600, 36035970800, 36035970700, 36035971000, 36035970900, 36035971100; and

WHEREAS, the Mayor and Common Council of the City of Gloversville believe a positive impact that Opportunity Zone designation would have within the City of Gloversville and have requested County support for participation; now, therefore be it

RESOLVED, That the Board of Supervisors hereby respectfully request designation by Governor Andrew Cuomo of the above-referenced census tracts as Opportunity Zones in accordance with the federal Tax Cuts and Jobs Act of 2017; and, be it further

RESOLVED, That certified copies of this Resolution be forwarded to the County Treasurer, Governor Cuomo, Senator Tedisco, Assemblyman Butler, Mayor King, Gloversville Common Council, Mohawk Valley Regional Development Council, Budget Director/County Auditor and Administrative Officer/Clerk of the Board.

Seconded by Supervisor FAGAN and adopted by the following vote:
TOTAL: Ayes: 19 Nays: 0 Absent: 1 (Supervisor Callery)