LJ receives opportunity zone designation from state - Insurance News | InsuranceNewsNet

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March 28, 2018 Newswires
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LJ receives opportunity zone designation from state

La Junta Tribune-Democrat (CO)

March 27--On Monday, Otero County Economic Director Danelle Berg reported city limits of La Junta, plus west to Swink and along Highway 10, is one of opportunity zones designated by state. Only 126 such zones were awarded throughout the state. In the Southeastern area where Berg works, also designated were the entirety of Crowley, Bent and Las Animas Counties. Parts of Baca, Otero ad Prowers Counties were also so designated. The South East Colorado Economic District did the applications, said Berg. The tax incentive -- opportunity zone includes the La Junta Health Service District, so the nursing home project will be included if built within the La Junta City Limits, or along Highway 50 to Swink or along Highway 10 to the west.

The advantage gained by investors is to have capital gains taxes deferred. Also set to gain from the tax deferment would be the Creative Energies project, housing projects, and any such large-scale investment.

The contract for Consulting Services for Cooperative Personal Services doing business as CPS HR Consulting, in the amount of $43,505 was approved. This is a classification study to determine base pay for positions in the county government. The study is to be finished by December 31, 2018.

Steve Cordova of Tri-County Housing explained preliminary work on rehabilitation of 13 houses in Otero and Bent County, for an initial investment of $132,000, ultimately $564,000 over the entire time of the project. The 13 houses to be renovated are owner-occupied homes for people at 80 percent or below the median income for our area. Cordova said it is very difficult to qualify for the renovations because the median income in our area is so low. Also, the renovations are to be financed with loans, not grants.

Assessor Ken Hood was granted permission to rebate $2,429 to Banc of America Leasing and Capital, LLC for personal property tax on equipment located at Fresenius.

Julie Worley, representing the South East Colorado Creative Partnership, asked the commissioners and was granted a letter of support for her application to the Wallace Center in Arlington, Virginia, for a fellowship to be granted (six to eight across the US) for persons experienced in economic development interested in creating food hubs for marketing of agricultural products. This is one of the aims of the commercial kitchen to be established on the west side of the restored Plaza Building, and Worley has abundant experience in economic development. The local kitchen will not be ready until 2019-2020, but this grant is for the preliminary studies necessary.

Otero County Clerk Sharon Sisnroy enjoyed a luncheon meeting with Secretary of State Wayne Williams last week. She reports the renovation process on the Clerk's offices are going well, with tile being laid today and furniture ordered for April 9. The primary election will be more costly than usual, with Democrat and Republican ballots mailed to undeclared voters. However, they must choose which to submit to have their ballots counted. No permanent voter designation will be assigned, but a record kept of the ballot returned.

In observance of Good Friday, Otero County Offices and Landfill Site #2 will be closed on Friday, March 30. The Courts, Probation and Driver's License Office will remain open.

___

(c)2018 La Junta Tribune-Democrat, Colo

Visit La Junta Tribune-Democrat, Colo at www.lajuntatribunedemocrat.com

Distributed by Tribune Content Agency, LLC.

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