Glossary Terms - CW - Short Flashcards
(46 cards)
Absolute Advantage
Compares 2 economies
1 economy can produce more of a product, simply because it has more resources.
Ad Valorem Tax
Tax levied on the value of a taxed item
Adaptive Reuse
rehab of old property for new purpose
AFDC (Aid to Families w/ Dependent Children
income assistance to low-moderate income families
replaced TANF
Amortization
liquidation of debt
via schedule of payments
Anchor/Key Tenant
largest tenant
(lease) instrumental in securing project financing
& attracting other tenants
Affordable Housing
consumes no more than 30% of household income
Angel Investor
provides equity investment to start-ups
Assessed valuation
monetary worth of a property for the purposes of taxation
Assets
Business property acquired at measurable cost
use is related to business operations
BOTS
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
Bankable
person who qualifies for loan at commercial
Base Industries
export/primary industries
sell or export products/services outside the community
increase ‘new’ dollars spent on non-base industries
Benchmarking
quantifiable measures of economic competitiveness & quality of life
collected on a regular basis
measures region status/progress against comparative region
Bond
certificate of debt issued by gov or corporation
guarantees payment + interest by specified date
Bond Banks
State agencies
assist local gov in acquiring capital financing through debt issuance
Bond Rating
estimation of creditworthiness of a corporation or gov unit
AAA = most credit worthy borrowers
Brownfields
abandoned or underutilized commercial or industrial sites
have real or perceived contamination
Business Assistance Center
one stop center
streamlines local permitting, licensing, and fee payment processes
facilitates decision-making process
Business Climate
attitude of local gov toward business
attitude of labor force & local business networks
Business Incubator
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
Business Improvement Districts
legally defined entity where assessment or tax is levied for capital or operating improvements
supplements city funding
created by public law or ordinance
Business Recruitment & Attraction
-Traditional approach to ED
-get company to relocate or expand
-smokestack chasing
Central Business District
area where highest concentration of businesses are in locality