As used in this title: (1) "Adjusted tax increment" means the percentage of tax increment, if less than 100%, that an agency is authorized to receive: (a) for a pre-July 1, 1993, project area plan, under Section 17C-1-403, excluding tax increment under Subsection 17C-1-403(3); (b) for a post-June 30, 1993, project area plan, under Section 17C-1-404, excluding tax increment under Section 17C-1-406; (c) under a project area budget approved by a taxing entity committee; or (d) under an interlocal agreement that authorizes the agency to receive a taxing entity's tax increment. (2) "Affordable housing" means housing owned or occupied by a low or moderate income family, as determined by resolution of the agency. (3) "Agency" or "community reinvestment agency" means a separate body corporate and politic, created under Section 17C-1-201.5 or as a redevelopment agency or community development and renewal agency under previous law: (a) that is a political subdivision of the state; (b) that is created to undertake or promote project area development as provided in this title; (c) that may, at the direction of the county or municipality that creates the agency, fulfill the duties described in Chapter 6, Regionally Significant Development Zones Act; and (d) whose geographic boundaries are coterminous with: (i) for an agency created by a county, the unincorporated area of the county; and (ii) for an agency created by a municipality, the boundaries of the municipality. (4) "Agency funds" means money that an agency collects or receives for agency operations, implementing a project area plan or an implementation plan as defined in Section 17C-1-1001, or other agency purposes, including: (a) project area funds; (b) income, proceeds, revenue, or property derived from or held in connection with the agency's undertaking and implementation of project area development or agency-wide project development as defined in Section 17C-1-1001; (c) a contribution, loan, grant, or other financial assistance from any public or private source; (d) project area incremental revenue as defined in Section 17C-1-1001; or (e) property tax revenue as defined in Section 17C-1-1001. (5) "Annual income" means the same as that term is defined in regulations of the United States Department of Housing and Urban Development, 24 C.F.R. Sec. 5.609, as amended or as superseded by replacement regulations. (6) "Assessment roll" means the same as that term is defined in Section 59-2-102. (7) "Base taxable value" means, unless otherwise adjusted in accordance with provisions of this title, a property's taxable value as shown upon the assessment roll last equalized during the base year. (8) "Base year" means, except as provided in Subsection 17C-1-402(4)(c), the year during which the assessment roll is last equalized: (a) for a pre-July 1, 1993, urban renewal or economic development project area plan, before the project area plan's effective date; (b) for a post-June 30, 1993, urban renewal or economic development project area plan, or a community reinvestment project area plan that is subject to a taxing entity committee: (i) before the date on which the taxing entity committee approves the project area budget; or (ii) if taxing entity committee approval is not required for the project area budget, before the date on which the community legislative body adopts the project area plan; (c) for a project on an inactive airport site, after the later of: (i) the date on which the inactive airport site is sold for remediation and development; or (ii) the date on which the airport that operated on the inactive airport site ceased operations; or (d) for a community development project area plan or a community reinvestment project area plan that is subject to an interlocal agreement, as described in the interlocal agreement. (9) "Basic levy" means the portion of a school district's tax levy constituting the minimum basic levy under Section 59-2-902. (10) "Board" means the governing body of an agency, as described in Section 17C-1-203. (11) "Budget hearing" means the public hearing on a proposed project area budget required under Subsection 17C-2-201(2)(d) for an urban renewal project area budget, Subsection 17C-3-201(2)(d) for an economic development project area budget, or Subsection 17C-5-302(2)(e) for a community reinvestment project area budget. (12) "Closed military base" means land within a former military base that the Defense Base Closure and Realignment Commission has voted to close or realign when that action has been sustained by the president of the United States and Congress. (13) "Combined incremental value" means the combined total of all incremental values from all project areas, except project areas that contain some or all of a military installation or inactive industrial site, within the agency's boundaries under project area plans and project area budgets at the time that a project area budget for a new project area is being considered. (14) "Community" means a county or municipality. (15) "Community development project area plan" means a project area plan adopted under Chapter 4, Part 1, Community Development Project Area Plan. (16) "Community legislative body" means the legislative body of the community that created the agency. (17) "Community reinvestment project area plan" means a project area plan adopted under Chapter 5, Part 1, Community Reinvestment Project Area Plan. (18) "Contest" means to file a written complaint in a court with jurisdiction under Title 78A, Judiciary and Judicial Administration, and in a county in which the agency is located if the action is filed in the district court. (19) "Development impediment" means a condition of an area that meets the requirements described in Section 17C-2-303 for an urban renewal project area or Section 17C-5-405 for a community reinvestment project area. (20) "Development impediment hearing" means a public hearing regarding whether a development impediment exists within a proposed: (a) urban renewal project area under Subsection 17C-2-102(1)(a)(i)(C) and Section 17C-2-302; or (b) community reinvestment project area under Section 17C-5-404. (21) "Development impediment study" means a study to determine whether a development impediment exists within a survey area as described in Section 17C-2-301 for an urban renewal project area or Section 17C-5-403 for a community reinvestment project area. (22) "Dormancy period" means a period that ends six months after the project area funds collection period ends. (23) "Dormancy period extension hearing" means the public hearing on a proposed extension of a dormancy period required under Subsection 17C-1-702(2)(a). (24) "Economic development project area plan" means a project area plan adopted under Chapter 3, Part 1, Economic Development Project Area Plan. (25) "Fair share ratio" means the ratio derived by: (a) for a municipality, comparing the percentage of all housing units within the municipality that are publicly subsidized income targeted housing units to the percentage of all housing units within the county in which the municipality is located that are publicly subsidized income targeted housing units; or (b) for the unincorporated part of a county, comparing the percentage of all housing units within the unincorporated county that are publicly subsidized income targeted housing units to the percentage of all housing units within the whole county that are publicly subsidized income targeted housing units. (26) "Family" means the same as that term is defined in regulations of the United States Department of Housing and Urban Development, 24 C.F.R. Sec. 5.403, as amended or as superseded by replacement regulations. (27) "Greenfield" means land not developed beyond agricultural, range, or forestry use. (28) "Hazardous waste" means any substance defined, regulated, or listed as a hazardous substance, hazardous material, hazardous waste, toxic waste, pollutant, contaminant, or toxic substance, or identified as hazardous to human health or the environment, under state or federal law or regulation. (29) "Housing allocation" means project area funds allocated for housing under Section 17C-2-203, 17C-3-202, or 17C-5-307 for the purposes described in Section 17C-1-412. (30) "Housing fund" means a fund created by an agency for purposes described in Section
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