Nebraska Administrative Code › Topic - REVENUE, DEPARTMENT OF › Title 350 - Nebraska Department of Revenue, Property Assessment Division › Chapter 18 - Community Development Project Regulations › Section 350-18-002 - DEFINITIONS

Current through June 17, 2024
002.01 Redevelopment Authority
Redevelopment Authority shall mean a public body corporate
				  and politic, exercising public and essential governmental functions and having
				  all the powers necessary or convenient to carry out and effectuate the purposes
				  and provisions of the Community Development Law.
002.02 Limited Redevelopment Authority shall
				mean a redevelopment authority created for the purpose of only one single
				specific limited pilot project.
002.03 City
City shall mean any city or incorporated village in the
				  state.
002.04 Public body
Public body shall mean the state, county, township, board,
				  commission, authority, district, or other political subdivision or public body
				  of the state.
002.05
				Governing body or local governing body
Governing body or local governing body shall mean the city
				  council, board of trustees, or other legislative body charged with governing
				  the municipality.
002.06
				Area of operation
Area of operation shall mean and include all real property
				  within the corporate limits of a city and such land outside the city as may
				  come under the purview of Neb. Rev. Stat. Section
				  18-2123.
002.07 Substandard area
Substandard area shall mean an area as defined in Neb. Rev.
				  Stat. Section
				  18-2103(10)
				  and generally refers to an area in which there are buildings and structures
				  that are detrimental to public safety and health.
002.08 Blighted area
Blighted area shall mean an area as defined in Neb. Rev.
				  Stat. Section
				  18-2103(11)
				  and generally refers to an area with high unemployment, the average age of
				  buildings and structures is over forty years, majority of the land is
				  unimproved, lower than city average per capita income and the area has had
				  either stable or decreasing population.
002.09 Redevelopment project
Redevelopment project shall mean a project as defined in Neb.
				  Rev. Stat. Section
				  18-2103(12)
				  and generally refers to any work or undertaking in a substandard or blighted
				  area, including clearing the area through demolition of existing buildings,
				  structures, or improvements and to make available through the leasing, or
				  selling of the land to developers for residential, recreational, commercial,
				  industrial or other uses.
002.10 Redevelopment plan
Redevelopment plan shall mean a plan as defined in Neb. Rev.
				  Stat. Section
				  18-2103(13)
				  and generally refers to a plan showing the boundaries of the redevelopment
				  area, proposed land uses, population densities, land and building intensities
				  within the area after development, statement of changes effecting zoning,
				  streets and building codes and other ordinances, site plan for the area, and a
				  statement as to the kind and number of public facilities and utilities needed
				  to support the area.
002.11
				Redeveloper
Redeveloper shall mean any person, partnership, or public or
				  private corporation or agency which shall enter or propose to enter into a
				  redevelopment contract.
002.12 Redevelopment contract
Redevelopment contract shall mean a contract entered into
				  between an authority and a redeveloper for the redevelopment of an area in
				  conformity with a redevelopment plan.
002.13 Real property for the purpose of this
				regulation
Real property for the purpose of this regulation shall mean
				  all lands, including improvements and fixtures thereon, and property of any
				  nature appurtenant thereto, or used in connection therewith, and every estate,
				  interest and right, legal or equitable, therein, including terms for years and
				  liens by way of judgment, mortgage, or otherwise, and the indebtedness secured
				  by such liens.
002.14
				Community redevelopment area
Community redevelopment area shall mean a substandard and
				  blighted area which the community redevelopment authority designates as
				  appropriate for a renewal project.
002.15 Redevelopment project valuation, also
				known as the base value, shall mean the assessed valuation on the taxable real
				property in a redevelopment project last certified to the political
				subdivisions in the year prior to the effective date of the provision
				authorizing the dividing of ad valorem tax pursuant to Neb. Rev. Stat. Sections
				18-2103(21)
				and
				18-2147.
002.16 Redevelopment project excess valuation
Redevelopment project excess valuation shall mean the total
				  assessed valuation on the real property in a redevelopment project for the
				  current year less the redevelopment project base valuation.