§ 11-46. Definitions.

The following words, terms and phrases, when used in this division, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Base year assessment roll means the base year assessment roll prepared by the city assessor in accordance with section 11-49.

Captured assessed value means the amount in any one (1) year by which the current assessed value as finally equalized of all taxable property in the development area exceeds the initial assessed value.

Development area means the area legally described in Exhibit G of the development plan dated September, 1984, as amended on April 15, 2002, December 15, 2003, and November 20, 2006 and which is hereby made a part of this division.

Development fund means the downtown development authority development fund established pursuant to section 11-51.

Development plan means the tax increment financing and development plan for the city dated September, 1984, as amended, and as transmitted to the council by the downtown development authority for public hearing, copies of which are on file in the office of the city clerk.

Downtown development authority means the city downtown development authority.

Initial assessed value means the most recently assessed value as finally equalized of all the taxable property within the boundaries of the development area on November 5, 1984.

Taxing jurisdiction shall mean each unit of government levying an ad valorem property tax on property in the development area.

(Ord. No. 430, § 1, 11-5-84; Ord. No. 455, 11-21-88; Ord. No. 654, § 1, 1-20-04; Ord. No. 683, § 1, 11-20-06)