The Mower County Board of Commissioners today will consider – quickly – the ranking of eligible tracts they and others hope will be designated as Opportunity Zones, which could revitalize those areas.

The zones, nominated through the use of census tracts, are a new way to attract private investment into distressed areas, as outlined in the new Tax Cuts and Jobs Act. The new act has put application on the fast track: According to John Garry, executive director of the Development Corporation of Austin, the application with the rankings must be submitted by Thursday.

The hope is that if particular areas are designated Opportunity Zones, the tax benefits can attract new investment that will stimulate growth and create jobs.

Three areas have been identified by the Austin Housing and Redevelopment Authority and the city of Austin. The tract ranked the highest in need is an area that includes Austin’s downtown.

“While we realize that census tracking is the determination of the county,” wrote Mayor Tom Stiehm to County Coordinator Craig Oscarson, “we ask that you consider the city’s preference in ranking the eligible zones for the designation.”

Garry will speak to the issue during the meeting. He will note, according to documents attached to the board’s agenda, that Austin has three of the poorest 250 eligible tracts in Minnesota. Its priority tract is the poorest local tract compared to two others. The percent of income compared to the state median family income is 38.6 percent and the poverty level is 37.9 percent.

Garry noted that in addition to the city, county and the HRA, The Hormel Foundation and Hormel Foods Corp. both support the development of the zone.

“All rank (this census tract) … as the top priority with the greatest need and highest potential for future development potential.”

In other business, the board will hear a Turtle Creek Watershed District update.