Act: "Act" means 5 MRSA
Chapter 383, Subchapter IX.
Applicant: "Applicant" means any municipality, any governmental
entity, any corporation, any partnership, any limited liability company, any
private, nonprofit or public entity, organization or association, any
individual or any other person which applies for assistance from the
"Authority" means the Maine Rural Development Authority, or as the context
requires, any agent, employee or other representative of the
Costs: "Carrying Costs" means reasonable costs incurred for the
maintenance, protection and security of a Project prior to its completion or
its occupancy or control by the Owner, including, but not limited to,
insurance, taxes and interest.
: "Commercial Facility" shall mean real estate
and improvements used principally for commercial purposes or suitable for
commercial use as defined in
. The term
commercial facilities includes, but is not limited to:
(1) Offices and office buildings;
(2) Manufacturing, processing, assembly and
other industrial buildings and related improvements;
(3) Property used in connection with
commercial fishing and other marine-related industries;
(4) Property used in conjunction with
agricultural production, storage, processing, packing and
transportation and distribution facilities;
(6) Service and repair facilities;
(7) Retail establishments; and
(8) Lodging, restaurant and entertainment
Comprehensive Plan: "Comprehensive Plan" shall mean a plan that is
determined by the Executive Department, State Planning Office to be consistent
§4326 (1-4), and has been adopted by the
city or town, as applicable.
Construction Costs: "Construction Costs" means any cost or
expenditure with respect to a Project, which is properly chargeable under the
Internal Revenue Code of 1986, as amended, to the capital account of any person
or state or local government. In no event shall "Construction Costs" include
either "Carrying Costs" or the cost of providing and maintaining and plowing an
adequate access road from a public highway to the Commercial Facility or
maintaining water, sewer and power facilities or paying any service charge for
water, sewer, power or other such services or utilities.
"Development Project" means the acquisition of property and development of a
Commercial Facility for subsequent sale or lease into private productive
Costs: "Eligible Costs" means Construction Costs.
Lease: "Lease", as defined at
5 MRSA §13120-8(7), means a contract providing for the use of a Project or
portions of a Project for a term of years for a designated or determinable
rent. A lease may include an installment sales contract.
Local Growth Management
Program: "Local Growth Management Program" shall mean the town has
adopted a growth management program that certified by the Executive Department,
State Planning Office, under
Corporation: "Local Development Corporation" shall have the meaning set
forth in the Act, 5 MRSA §13120-8(9).
as defined in 5 MRSA §13120-8 (1 0), means any county, city or town in the
"Owner" means the entity or association (a) designated by the Authority as the
recipient of financial assistance for a Project pursuant to the Program and (b)
in which the Authority may have an ownership interest.
Program: "Program" means the
Commercial Facilities Development Program.
Project: "Project" means (a)
a Redevelopment Project or (b) a Development Project.
"Redevelopment Project" means the acquisition and redevelopment of a
nonproductive Commercial Facility for subsequent return to productive use
through sale or lease.