Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.
Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.
Expandable condominium means a condominium project to which additional
Economic Development Property means those items of real and tangible personal property of the Project which are eligible for inclusion as economic development property under the FILOT Act and this Fee Agreement, and selected and identified by the Company or any Sponsor Affiliate in its annual filing of a SCDOR PT-300S or comparable form with the Department (as such filing may be amended from time to time) for each year within the Investment Period.
Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.
Said Land shall have the meaning ascribed to such term in Recital IVof this Agreement and which is more fully and particularly described in the Second Schedule written hereunder and delineated and demarcated in Annexure – A hereto;
Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.
Common Property , in relation to a scheme, means-