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Other Links
Downtown Development Authority - downtownfortcollins.org
Northern Colorado Economic Development Corp - ncedc.com
Larimer County - larimer.org
State of Colorado - colorado.gov
Glossary of Planning Terms
Absentee Owner
Property owner who owns property at one
location but lives or operates a business at another location.
Assessed Value (AV)
The amount used by the county tax assessor to value real property
for tax purposes. Assessed value is generally the market value of
property.
Base Value
The total assessed value of property within a project area in the
year in which the redevelopment project is approved.
Base Year
The year in which the redevelopment plan is adopted.
Blighted Areas
Areas and/or structures of a community which constitute either physical,
social, or economic liabilities requiring redevelopment in the interest
of the health, safety, and general welfare of the people of the
community and the state.
Brownfields
Under utilized or abandoned properties with known or perceived environmental
contamination usually associated with past industrial or waste disposal
activities.
Citizen Advisory Group (CAG)
Committee composed of project area residents, businesspersons, and
representatives of organizations to provide advice to the decision
making authority.
Demolition
Clearance or removal of a structure in order to carry out the redevelopment
plan.
Eminent Domain
Authority of a government agency to acquire property for public
purposes (not to be confused with meaning public buildings and improvements
only). Also know as condemnation.
Greenfields
Property that has never been developed upon.
Greyfields
A shopping mall with a high vacancy rate or a low consumer traffic
level, or that is dated or deteriorating in some manner. The space
of the anchor store would often be empty.
Infrastructure
Public improvements which support development, including street
lighting, sewers, flood control facilities, water lines, gas lines,
telephone lines, etc.
Market Value
What a willing seller could reasonably expect to receive if he/she
were to sell the property on the open market to a willing buyer.
Negotiated Sale
When the price to be paid for land and improvements is mutually
agreed upon by the buyer and seller.
Project Area
The area which is designated in the redevelopment plan for redevelopment
and revitalization.
Property Tax
The amount of tax which a property owner pays on the value of his/her
property.
Redevelopment
Planning, development, re-planning, redesign, clearance, reconstruction,
or rehabilitation of all or part of a project area.
Rehabilitation
To improve, alter, modernize or modify an existing structure to
make it safe, sanitary, and decent and/or bring it up to building
code standards.
Relocation
The effort to assist and facilitate re-housing of families and single
persons, businesses or organizations who are displaced due to redevelopment
activities.
Tax Allocation Bond
A bond or financial obligation issued by the agency in order to
generate funds to implement the redevelopment plan. The bond is
repaid with tax increments flowing to the agency as a result of
the agency's revitalization of the project area.
Tax Increment
The increase in property taxes within the urban renewal project
area that result from increases in the project area assessed value
that exceeds the base year assessed value.
Urban Renewal Authority (URA)
The governing body created to designate
redevelopment project areas, supervise and coordinate planning for
a project area, and implement the revitalization program.
Urban Renewal Plan (URP)
Plan for revitalization and redevelopment of land within the project
area in order to eliminate blight and remedy the conditions which
caused it.
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