As used in this chapter:
(a) "Average full valuation of taxable real property" means the valuation obtained by taking the assessed valuation of taxable real property in the district as it appears upon the last completed and four preceding assessment rolls of the city and dividing each by the applicable state equalization rate as determined by the state board of equalization and assessment pursuant to article twelve of the real property tax law for each of the assessment rolls and dividing the sum of the quotients thus obtained by five.
(b) "District" means a business improvement district established pursuant to this chapter.
(c) "District charge" means a levy imposed on behalf of a district as provided in the district plan.
(d) "District management association" means the association established pursuant to section 25-414 of this chapter.
(e) "District plan" or "plan" means a proposal as defined in section 25-405 of this chapter.
(f) "Owner" means owner of record.
(g) "Tenant" means an occupant pursuant to a lease of commercial space or a dwelling unit, other than an owner.
The district plan shall contain the following;
(a) a map of the district;
(b) the written report or reports of the city council containing:
(l) a description of the boundaries of the district proposed for establishment or extension in a manner sufficient to identify the lands included;
(2) a description of the present and proposed uses of such lands;
(3) the improvements proposed and the maximum cost thereof;
(4) the total annual amount proposed to be expended for improvements, maintenance and operation;
(5) the proposed source or sources of financing;
(6) the proposed time for implementation and completion of the district plan;
(7) any proposed rules and regulations to be applicable to the district;
(8) a list of the properties to be benefited, and a statement of the method or methods by which the expenses of a district will be imposed upon benefited real property, in proportion to the benefit received by such property, to defray the cost thereof, including operation and maintenance. Notwithstanding any inconsistent provision of section 25-407 of this chapter, the plan may provide that all or any class or category of real property which is exempt by law from real property taxation and which would not benefit from the establishment or extension of the district may nevertheless be included within the boundaries of the district but such property shall not be subject to any district charge;
(9) a statement identifying the district management association for the district; and
(10) any other item or matter required to be incorporated therein by the city council.
Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 1990/082.
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