As used in the Redevelopment Plan, the following terms shall have the meanings indicated:
BUSINESS IMPROVEMENT DISTRICT (BID)The generic term that includes New Jersey's Special Improvement Districts (SID's) under the District Management Act of 1984. A legally defined method by which properties can be assessed for specified purposes, typically services, and under some conditions physical improvements. New Jersey law allows District Management Corporations to borrow for no more than 180 days.
CONCEPT PLANPlans that may precede Master Plan in which desired improvements are illustrated and suggestions made regarding land uses and other elements.
DENSITYThe relationship of a unit of geography (e.g., acres, miles) to the number of housing units or to some demographic data (e.g., persons per square mile) or economic statistics (e.g., purchasing power or stores or sales per square mile, etc).
ECO-TOURISMA branch of the tourism industry that specializes in travel and other arrangements that enable people to enjoy rare natural areas, e.g., safaris, climbing in the Rockies, undersea diving, etc. Two areas in New Jersey offering this possibility include the Brigantine Wildlife Refuge and fall birdwatching at Cape May.
ENTERPRISE ZONEState-approved area within designated municipalities in which tax incentives are available to encourage investment and, in selected instances, sales taxes (on selected items) are reduced by 50% and the receipts placed in a fund for state-approved projects. A state-mandated local Board makes recommendations for funding to the City Council and the State Enterprise Board.
FINDING OF NEED FOR REDEVELOPMENTThe step precedent to the adoption of a Redevelopment Plan is the process defined in the housing and redevelopment statutes by which an area is declared in need of redevelopment. To warrant the finding, a study must show evidence of meeting at least one of seven statutory tests. Recommended by the Planning Board and adopted by the governing body.
MASTER PLANTerm used in State Municipal Land Use Law to indicate an adopted general plan for a municipality to guide zoning, public investments and related matters. Required elements include land use, housing, circulation, etc. Should be reviewed every six years and updated as necessary.
REDEVELOPMENT AREAArea found in need of redevelopment for which a Redevelopment Plan has been adopted.
REDEVELOPMENT PLANA step in the process mandated by state housing and redevelopment statutes and the Constitution whereby localities can condemn properties for private redevelopment and can award tax incentives to encourage redevelopment. Plan provides guidance for land use and meets various statutory tests. Plan is prepared for the Planning Board and adopted or modified by the governing body.
REVITALIZATIONA popular word referring to the process of improving an area, usually commercial, economically visually or otherwise. Not a legally defined term.
TAX INCREMENT FINANCING (TIF)A method by which the added increment of taxes anticipated to be realized from a real estate project (above the existing revenue level) can be used as the basis to bond for acquisition of land, infrastructure or other purposes defined in each state law. New Jersey does not now have such legislation.
ZONEAn area of a City in which specific land use requirements regarding what can and what cannot be built are included in the adopted Zoning Code.
ZONINGAdopted codes that implement the Master Plan's directions regarding land use.