1. (1) "Approve a redevelopment application" means:

   1. (a) entering a development agreement that includes, a minimum, of eight housing units per acre; or

   2. (b) modifying an existing development agreement that:

      1. (i) substantially increases the number of housing units, as determined by the executive director; and
      2. (ii) includes, a minimum, of eight housing units per acre;
2. (2) "Executive Director" means the executive director of the Governor's Office of Economic Opportunity;
3. (3) "Per Acre" means that on average the qualifying project has a minimum of eight residential housing units.

4. (4) "Spend" or "Spent" includes:

   1. (a) money paid directly toward the qualifying project;
   2. (b) fees waived by the land use authority;
   3. (c) land donated toward the qualifying project;
   4. (d) funds expended to improve areas immediately adjacent to the qualifying project where such improvements benefit the qualifying project; and
   5. (e) other expenses approved by the executive director.

The following terms are defined:

KEY: economic opportunity, high density housing

Date of Last Change: April 21, 2022

Authorizing, and Implemented or Interpreted Law: 63G-3-201(2)(d)