Terms Used In Utah Code > Title 63H > Chapter 1 > Part 4 - Project Area Plan and Budget

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Authority: means the Military Installation Development Authority, created under Section 63H-1-201. See Utah Code 63H-1-102
• Base taxable value: means :
       (2)(a) for military land or other land that was exempt from a property tax at the time that a project area was created that included the military land or other land, a taxable value of zero; or
       (2)(b) for private property that is included in a project area, the taxable value of the property within any portion of the project area, as designated by board resolution, from which the property tax allocation will be collected, as shown upon the assessment roll last equalized:

            (2)(b)(i) before the year in which the authority creates the project area; or

            (2)(b)(ii) before the year in which the project area plan is amended, for property added to a project area by an amendment to a project area plan. See Utah Code 63H-1-102
• Board: means the governing body of the authority created under Section 63H-1-301. See Utah Code 63H-1-102
• Development: includes the demolition, construction, reconstruction, modification, expansion, maintenance, operation, or improvement of a building, facility, utility, landscape, parking lot, park, trail, or recreational amenity. See Utah Code 63H-1-102
• Development project: means a project to develop land within a project area. See Utah Code 63H-1-102
• Included municipality: means a municipality, some or all of which is included within a project area. See Utah Code 63H-1-102
• Land: includes :
       (18)(a) land;
       (18)(b) a tenement;
       (18)(c) a hereditament;
       (18)(d) a water right;
       (18)(e) a possessory right; and
       (18)(f) a claim. See Utah Code 68-3-12.5
• 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}
• Military: includes , in relation to property, property that is occupied by the military and is owned by the government of the United States, the authority, or the state. See Utah Code 63H-1-102
• Military land: includes land that is:
            (13)(b)(i) owned or leased by the authority; and
            (13)(b)(ii) held or used for the benefit of the military. See Utah Code 63H-1-102
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Project area: means the land, including military land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 63H-1-102
• Project area budget: means a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to a project area that includes:
       (18)(a) the base taxable value of property in the project area;
       (18)(b) the projected property tax allocation expected to be generated within the project area;
       (18)(c) the amount of the property tax allocation expected to be shared with other taxing entities;
       (18)(d) the amount of the property tax allocation expected to be used to implement the project area plan, including the estimated amount of the property tax allocation to be used for land acquisition, public improvements, infrastructure improvements, and loans, grants, or other incentives to private and public entities;
       (18)(e) the property tax allocation expected to be used to cover the cost of administering the project area plan;
       (18)(f) if the property tax allocation is to be collected at different times or from different portions of the project area, or both:

            (18)(f)(i)

                 (18)(f)(i)(A) the tax identification numbers of the parcels from which the property tax allocation will be collected; or

                 (18)(f)(i)(B) a legal description of the portion of the project area from which the property tax allocation will be collected; and

            (18)(f)(ii) an estimate of when other portions of the project area will become subject to collection of the property tax allocation; and
       (18)(g) for property that the authority owns or leases and expects to sell or sublease, the expected total cost of the property to the authority and the expected selling price or lease payments. See Utah Code 63H-1-102
• Project area plan: means a written plan that, after the plan's effective date, guides and controls the development within a project area. See Utah Code 63H-1-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Property tax: includes a privilege tax imposed under Title 59, Chapter 4, Privilege Tax, except as described in Subsection (20)(b), and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 63H-1-102
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5