Maine Revised Statutes Title 5 Sec. 13120-B – Definitions
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As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2001, c. 703, §6 (NEW).]
1. Carrying costs. “Carrying costs” means reasonable costs incurred for the maintenance, protection and security of a speculative industrial building prior to occupancy, including, but not limited to, insurance, taxes and interest.
[PL 2005, c. 425, §9 (AMD).]
Terms Used In Maine Revised Statutes Title 5 Sec. 13120-B
- Board of trustees: means the Maine Rural Development Authority Board of Trustees. See Maine Revised Statutes Title 5 Sec. 13120-B
- Carrying costs: means reasonable costs incurred for the maintenance, protection and security of a speculative industrial building prior to occupancy, including, but not limited to, insurance, taxes and interest. See Maine Revised Statutes Title 5 Sec. 13120-B
- Commercial: means related to or connected with the furtherance of a profit-making enterprise. See Maine Revised Statutes Title 5 Sec. 13120-B
- Commercial facility: means real estate and improvements used principally for commercial purposes or suitable for commercial use. See Maine Revised Statutes Title 5 Sec. 13120-B
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the Department of Economic and Community Development. See Maine Revised Statutes Title 5 Sec. 13120-B
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lease: means a contract providing for the use of a project or portions of a project for a term of years for a designated or determinable rent. See Maine Revised Statutes Title 5 Sec. 13120-B
- Lessee: means a tenant under lease and may include an installment purchaser. See Maine Revised Statutes Title 5 Sec. 13120-B
- Local development corporation: means any nonprofit organization created by a municipality that is incorporated under Title 13, chapter 81 or that is incorporated under Title 13?B or otherwise chartered by the State, which is designed to foster, encourage and assist the settlement or resettlement of industrial, manufacturing, fishing, agricultural, recreational and other business enterprises within the State. See Maine Revised Statutes Title 5 Sec. 13120-B
- Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
- Municipal officers: means the mayor and municipal officers or councilors of a city, the members of the select board or councilors of a town and the assessors of a plantation. See Maine Revised Statutes Title 1 Sec. 72
- Municipality: means any county, city or town in the State. See Maine Revised Statutes Title 5 Sec. 13120-B
- Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Speculative industrial building: means a building of flexible design and suitable for commercial use, for which the construction or carrying costs or both are financed through this subchapter for the purpose of creating new jobs in a municipality resulting from the sale or lease of the building. See Maine Revised Statutes Title 5 Sec. 13120-B
- Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72
2. Board of trustees. “Board of trustees” means the Maine Rural Development Authority Board of Trustees.
[PL 2001, c. 703, §6 (NEW).]
3. Commercial. “Commercial” means related to or connected with the furtherance of a profit-making enterprise.
[PL 2001, c. 703, §6 (NEW).]
4. Commercial facility. “Commercial facility” means real estate and improvements used principally for commercial purposes or suitable for commercial use. The term commercial facilities includes, but is not limited to:
A. Offices and office buildings; [PL 2001, c. 703, §6 (NEW).]
B. Manufacturing, processing, assembly and other industrial buildings and related improvements; [PL 2001, c. 703, §6 (NEW).]
C. Property used in connection with commercial fishing and other marine-related industries; [PL 2001, c. 703, §6 (NEW).]
D. Property used in connection with agricultural production, storage, processing, packing and transportation; [PL 2001, c. 703, §6 (NEW).]
E. Warehouses, transportation and distribution facilities; [PL 2001, c. 703, §6 (NEW).]
F. Service and repair facilities; [PL 2001, c. 703, §6 (NEW).]
G. Retail establishments; and [PL 2001, c. 703, §6 (NEW).]
H. Lodging, restaurant and entertainment facilities. [PL 2001, c. 703, §6 (NEW).]
[PL 2001, c. 703, §6 (NEW).]
5. Community industrial building.
[PL 2005, c. 425, §10 (RP).]
6. Department. “Department” means the Department of Economic and Community Development.
[PL 2001, c. 703, §6 (NEW).]
7. Lease. “Lease” means a contract providing for the use of a project or portions of a project for a term of years for a designated or determinable rent. A lease may include an installment sales contract.
[PL 2001, c. 703, §6 (NEW).]
8. Lessee. “Lessee” means a tenant under lease and may include an installment purchaser.
[PL 2001, c. 703, §6 (NEW).]
9. Local development corporation. “Local development corporation” means any nonprofit organization created by a municipality that is incorporated under Title 13, chapter 81 or that is incorporated under Title 13?B or otherwise chartered by the State, which is designed to foster, encourage and assist the settlement or resettlement of industrial, manufacturing, fishing, agricultural, recreational and other business enterprises within the State. A majority vote of the municipal officers is sufficient to form a local development corporation, notwithstanding Title 13, chapter 81. “Local development corporation” also means any nonprofit organization that is incorporated under Title 13, chapter 81 or that is incorporated under Title 13?B or otherwise chartered by the State, and is designed to foster, encourage and assist the settlement or resettlement of industrial, manufacturing, fishing, agricultural, recreational and other business enterprises within the State that applies for financial assistance for a project under this article, as long as that application is formally endorsed by a vote of the governing body of the municipality in which the project is to be located. “Local development corporation” also means a development authority under subchapter 3 that is acting under the authority of a memorandum of understanding with a municipality to carry out the authorized activities of a local development corporation under this subsection.
[PL 2011, c. 148, §2 (AMD).]
10. Municipality. “Municipality” means any county, city or town in the State.
[PL 2001, c. 703, §6 (NEW).]
11. Speculative industrial building. “Speculative industrial building” means a building of flexible design and suitable for commercial use, for which the construction or carrying costs or both are financed through this subchapter for the purpose of creating new jobs in a municipality resulting from the sale or lease of the building.
[PL 2005, c. 425, §11 (NEW).]
SECTION HISTORY
PL 2001, c. 703, §6 (NEW). PL 2005, c. 425, §§9-11 (AMD). PL 2011, c. 148, §2 (AMD).