13.18.020 Definitions.
As used in this ordinance, the following terms shall have the following meanings.
Economic Improvement. The meaning as set forth in ORS 223.112, as it may be amended from time to time.
EID. An Economic Improvement District created or proposed under this ordinance.
Economic Improvement Plan. A plan prepared by the property or business owner(s) within the proposed district, or their designee(s), setting out:
1. A description of economic improvements proposed to be carried out;
2. The number of years, to a maximum of five, in which assessment are proposed to be levied and/or participant fees are proposed to be collected;
3. A preliminary estimate of the total cost of the proposed economic improvements;
4. The proposed boundaries designated by map or perimeter description of an economic improvement district within which subject properties would be assessed and/or businesses from whom participant fees would be collected to finance the cost of the economic improvement;
5. The proposed formula for assessing the cost of economic improvements against properties in the district, which may be based on the assessed value of the property, the square footage, or other fair method of apportionment, and/or establishing the participant fee on any business, trade, occupation or profession carried on or practiced in the economic improvement district, or both such property assessment and participant fee; and
6. A statement whether a property assessment will be a voluntary assessment or mandatory assessment; and
a. if voluntary, that the scope and level of improvements could be reduced depending on the amount of money collected; or
b. if mandatory, that the assessment will be considered a tax under the Oregon Constitution, Article XI Section 11(b) and may be reduced to fit within the property tax limitation thereby affecting the level and scope of services described.
Lot. A lot, block or parcel of land.
Owner. The record holder of legal title or the purchaser where land is being purchased under a land sale contract recorded or verified in writing by the record holder of legal title to the land.