Glossary Terms - CW - Short Flashcards

(46 cards)

1
Q

Absolute Advantage

A

Compares 2 economies
1 economy can produce more of a product, simply because it has more resources.

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2
Q

Ad Valorem Tax

A

Tax levied on the value of a taxed item

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3
Q

Adaptive Reuse

A

rehab of old property for new purpose

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4
Q

AFDC (Aid to Families w/ Dependent Children

A

income assistance to low-moderate income families
replaced TANF

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5
Q

Amortization

A

liquidation of debt
via schedule of payments

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6
Q

Anchor/Key Tenant

A

largest tenant
(lease) instrumental in securing project financing
& attracting other tenants

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7
Q

Affordable Housing

A

consumes no more than 30% of household income

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8
Q

Angel Investor

A

provides equity investment to start-ups

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9
Q

Assessed valuation

A

monetary worth of a property for the purposes of taxation

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10
Q

Assets

A

Business property acquired at measurable cost
use is related to business operations

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11
Q

BOTS

A

Process where private company finances, builds, operates infrastructure system
Gov plays regulatory & oversight role
At end of project (15-25 yrs) system transferred back to gov

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12
Q

Bankable

A

person who qualifies for loan at commercial

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13
Q

Base Industries

A

export/primary industries
sell or export products/services outside the community
increase ‘new’ dollars spent on non-base industries

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14
Q

Benchmarking

A

quantifiable measures of economic competitiveness & quality of life
collected on a regular basis
measures region status/progress against comparative region

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15
Q

Bond

A

certificate of debt issued by gov or corporation
guarantees payment + interest by specified date

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16
Q

Bond Banks

A

State agencies
assist local gov in acquiring capital financing through debt issuance

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17
Q

Bond Rating

A

estimation of creditworthiness of a corporation or gov unit
AAA = most credit worthy borrowers

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18
Q

Brownfields

A

abandoned or underutilized commercial or industrial sites
have real or perceived contamination

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19
Q

Business Assistance Center

A

one stop center
streamlines local permitting, licensing, and fee payment processes
facilitates decision-making process

20
Q

Business Climate

A

attitude of local gov toward business
attitude of labor force & local business networks

21
Q

Business Incubator

A

nurtures & supports young companies
provides space, technical assistance, equity & long-term financing, employment
Three basic objectives:
1) spur tech-based development
2) diversify local economy
3) revitalize community

22
Q

Business Improvement Districts

A

legally defined entity where assessment or tax is levied for capital or operating improvements
supplements city funding
created by public law or ordinance

23
Q

Business Recruitment & Attraction

A

-Traditional approach to ED
-get company to relocate or expand
-smokestack chasing

24
Q

Central Business District

A

area where highest concentration of businesses are in locality

25
Community Development Block Grant
-Title 1 Housing & Community Devlpt. Act 1974 -Replaces 8 grant/loan programs -communities w/more than 50K entitled to get funding -less than 50k apply for discretionary funds -purpose: broad comm. dev. projects/expand housing to low/mod income persons
26
Community Development Corporation
-non-profit 501 c 3 -obtains fed/private support -governed by locals through BOD
27
Bank-Sponsored Community Development Corporations
-way for banks to contribute to economic revitalization -by investing in biz/real estate that benefits low-mod income
28
Certified Development Corporation
-Originating & administering body for SBA 504 loan program -provides long-term fixed rate financing -to small biz for real estate, machinery, equip to expand /modernize facilities
29
Community Development Financial Institution
-works in market niche not adequately served by traditional fin. institutions -provide mortgage/commercial/etc. to low-income -must engage in comm develop, serve target pop, provide $$, and have comm rep on BOD -non-governmental
30
Community Housing Affordability Strategy
-federally mandated 5 yr low/mod income plan -describes needs/strategies/resources -required for state/local gov to get fed housing $$
31
Community Housing Development Organization
-Fed defined non-profit -provides low-mod income housing -eligible for 15% of HOME funds for housing development & 5% for operational costs
32
Community Reuse Organization
oversees transition of Dept. Energy faciity from gov - civilian use
33
Capacity Building
helps comm based neighborhood organization to design ED strategies -using tech assistance, networks/conferences/workshops
34
Capital Costs
cost of investment in physical improvements/infrastructure/equip etc.
35
Capital Projects Fund
money that accounts for acquisition of capital facilities can be raised through bonds/grants
36
Cap Rate
rate of return that deems investment in development project reasonable
37
Cash Flow
-Statement showing total cash receipts/disbursements -for a specific period in time
38
Clawbacks
punitive steps taken against a firm that breaks contract w/locality
39
Comparative Advantage
-compares economies of regions -produces a product more efficiently leading to higher opportunity cost
40
Competitive Niche
market business/region performs well in
41
Comprehensive Environmental Response, Compensation & Liability Act
sites w/ worst environmental damage put on NPL.
42
Consolidated Plan
combines all planning/ application/performance requirements required for programs that require CHAS
43
Cost Benefit Analysis
evaluates profitability of alternative uses of resources
44
Cost Effective Analysis
compares alternative projects/plans to determine cheapest way to achieve goals
45
Council-Manager
-form of city gov -admin authority = professional manager hired by elected council -mayoral duties ceremonial
46
Mayor-Council
-system of city gov -separates legislative & executive power -mayor can have exec powers or powers dispersed to separate agencies