Area needing redevelopment definition

Area needing redevelopment means an area that meets certain statutory criteria, including a finding that the area is an area in which normal development and occupancy are undesirable or impossible because of factors such as lack of development; cessation of growth; deteriorated or deteriorating improvements; environmental contamination; character of occupancy; age; obsolescence; substandard buildings; or other factors that impair property values or prevent a normal use or development of property. Such areas were previously called “redevelopment areas” or “redevelopment project areas.” Prior law permitted the use of eminent
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Area needing redevelopment means an area in which normal development and occupancy are undesirable or impossible because of any of the following:
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Related to Area needing redevelopment

  • Redevelopment means areas where development is replacing older development.

  • Redevelopment project means any work or undertaking

  • Redevelopment Plan means the “Lincoln Center Redevelopment Plan” passed, adopted and approved by the City pursuant to the Resolution, and shall include any amendment of said Redevelopment Plan heretofore or hereafter made by the City pursuant to law.

  • Redevelopment Agreement means an agreement between the

  • Building Energy Benchmarking means the process of measuring a building’s Energy use, tracking that use over time, and comparing performance to similar buildings.

  • Redevelopment Commission means the Fishers Redevelopment Commission.

  • New Project means (a) each facility which is either a new facility, branch or office or an expansion, relocation, remodeling or substantial modernization of an existing facility, branch or office owned by the Borrower or its Subsidiaries which in fact commences operations and (b) each creation (in one or a series of related transactions) of a business unit to the extent such business unit commences operations or each expansion (in one or a series of related transactions) of business into a new market.

  • Modular building retailer means any person who purchases or acquires a modular building from a

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.

  • Capital Improvements mean the purchase, renovation, rehabilitation, or construction of permanent land, buildings, structures, equipment and furnishings used directly for or in the Project, and any goods or services for the Project that are purchased and capitalized under GAAP, including any organizational costs and research and development costs incurred in Illinois. Capitalized lease costs for land, buildings, structures or equipment shall be included in “Capital Improvements” only if the lease term, including any extensions or options to extend, equals or exceeds the term of this Agreement, and provided that such lease costs are valued at their present value using the corporate interest rate prevailing at the time the Company filed its Application with the Department.

  • Development Site means any parcel or lot on which exists or which is intended for building development other than the following:

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.