Transformative project definition
Transformative project means a property that is:
Transformative project means a specific construction project or improvement or phase of a project or improvement undertaken by a business entity that includes the rehabilitation of a transformative property.
Transformative project means a redevelopment project that has a project financing gap, that has a total project cost of at least $100,000,000, and that includes 500,000 or more square feet of new or substantially renovated industrial, commercial, or residential space or that includes 250,000 or more square feet of film studios, professional stages, television studios, recording studios, screening rooms, or other infrastructure for film production and which is of special economic importance as measured by the level of new jobs, new capital investment, opportunities to leverage leadership in a high-priority targeted industry, or other state priorities as determined by the authority pursuant to rules and regulations promulgated to implement this section.
More Definitions of Transformative project
Transformative project means a redevelopment project with a project financing gap that includes one or more of the following:
Transformative project means a mixed-use redevelopment
Transformative project means a mixed-use redevelopment project with a project financing gap that includes 500,000 or more square feet of new or substantially renovated or commercial or residential space, and which is of special economic importance as measured by the level of new jobs, new capital investment, and opportunities to leverage leadership in a high-priority targeted industry, as determined by the authority pursuant to rules and regulations promulgated to implement sections 17 through 25 of P.L. , c. (C. ) (pending before the Legislature as this bill), and which is located in a distressed municipality.
Transformative project shall have the meaning assigned to it in G.S. §l43B-437.51.