Upcoming Workshop: Opportunity Zone Designation Process

The City of San Rafael is hosting a public informational workshop about the upcoming Opportunity Zone Nomination Process (OZ 2.0).

Date: April 30, 2026

Time: 10:00AM - 11:00AM

Location: Albert J. Boro Community Center, Room 3 at 50 Canal Street, San Rafael

What is this about?

This public informational workshop is an opportunity to learn more about how cities and communities may leverage Opportunity Zone investments. The Opportunity Zone (OZ) Program was established under the federal Tax Cuts and Jobs Act of 2017 to encourage the reinvestment of capital gains into economically distressed communities. The Opportunity Zone Program was originally scheduled to sunset on December 31, 2026. With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, the program is now a permanent part of the federal tax code. As part of this legislation, a new round of Opportunity Zone census tract designations-referred to as "Opportunity Zones 2.0"-will be introduced.

The program offers preferential federal tax treatment for capital gains invested in qualified projects located within designated low-income census tracts. Eligible investments may include new real estate construction, rehabilitation of vacant or underutilized properties, equity investments in operating businesses, and infrastructure or energy-related projects, among others. The Opportunity Zone incentive is designed to reward long-term, patient capital that generates sustained economic growth, job creation, and community revitalization in historically underserved areas.

What is Changing?

Changes in recent federal law make the OZ program permanent and set in motion a process which will enable the Governor to designate new or renewed Opportunity Zones as early as July 1, 2026. State of California's Business and Economic Development