their talents and skills to support innovation, job creation and
private investment.
"Economic development and mixed-use redevelopment." An
urban, suburban, village development or single building that
combines residential, commercial, cultural, institutional or
industrial uses to provide efficiency for the community in terms
of space, transportation and economic development.
"Local taxing authority." A county, municipal corporation,
institution district or school district having authority to levy
real estate taxes.
"Municipal corporation." A city, borough, incorporated town
or township.
"Project agreement." An agreement between a developer and a
local taxing authority stating the terms and conditions of the
redevelopment of a shopping mall authorized by the local taxing
authority for a tax exemption or special tax provision under
section 5.
"Property maintenance code." A municipal ordinance that
regulates the maintenance or development of real property. The
term includes a building code, zoning code, housing code and
public safety code.
"Real estate tax." A tax on a homestead imposed or
authorized to be imposed by a local taxing authority.
"Redevelopment." Repair, construction or reconstruction,
including alterations and additions, having the effect of
rehabilitating a shopping mall so that the shopping mall attains
higher standards of safety, health, economic use or amenity or
is brought into compliance with laws, ordinances or regulations
governing safety, health, economic use or amenity standards. The
term shall not include ordinary upkeep and maintenance.
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