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File Number: 19-453 <br />years prior to December 31, 2026, the tax liability can be reduced by 15% total. <br />3. Permanent Exclusion (Year 10) <br />A permanent exclusion from taxable income of capital gains from the sale or exchange of <br />an investment in an Opportunity Fund if the investment is held for at least 10 years. This <br />exclusion only applies to gains accrued after an investment in an Opportunity Fund. <br />Those who hold their Opportunity Fund investment for at least 10 years can expect to pay <br />no capital gains taxes on any appreciation in their Opportunity Fund investment. That’s <br />because Opportunity Fund gains earned from Opportunity Zone investments can qualify for <br />permanent exclusion from the capital gains tax if the investment is held for at least 10 <br />years. <br />Current Agency Policies <br />City Council Goals: <br />·Advance projects and programs promoting sustainable economic development, including <br />transforming San Leandro into a center for innovation. <br />·Support and implement programs, activities and strengthen communication that enhances <br />the quality of life and wellness, celebrates the arts and diversity and promotes civic pride. <br />Applicable General Plan Policies <br />Policy ED-1.1 Leveraging San Leandro’s Assets. Build on San Leandro’s strengths, including its <br />central location, transportation infrastructure, affordability, industrial land supply, and <br />business-friendly reputation to leverage economic growth and private investment in the city. <br />Policy ED-1.4 Emerging Industries. Promote and support the growth of new and emerging <br />industries, especially industries requiring work space that is consistent with San Leandro’s <br />building stock and industries with the potential to provide quality jobs at all skill levels and wage <br />levels for San Leandro residents. <br />Policy ED-1.9 Marketing and Branding. Promote positive media coverage, branding, and <br />marketing campaigns that build civic pride and create a favorable image of San Leandro on a <br />regional, national, and global scale. <br />Policy ED-4.1 Retail Diversity. Encourage a diverse range of commercial uses, offering goods <br />and services that fully meet the needs of San Leandro residents and businesses. The City should <br />recruit new businesses that: (a) fill gaps in the range of goods and services currently available; <br />and (b) act as catalysts for attracting other retailers to the City. <br />Policy ED-4.6 Shopping Centers and Neighborhood Business Districts. Support and encourage <br />the repositioning of San Leandro’s shopping centers and neighborhood business districts to <br />remain competitive and meet the changing needs of the community, including the provision of <br />merchandise and services for an increasingly diverse population. <br />Policy ED-4.8 Bayfair Center. Support continued reinvestment in Bayfair Center, restoring the <br />center’s role as a regional destination while reinventing it to reflect modern retail trends and <br />incorporate a more pedestrian-oriented, mixed use format. <br />PREPARED BY: Mariana Garcia, Economic Development Specialist, Community Development <br />Department <br />Page 3 City of San Leandro Printed on 8/28/2019 <br />15