447.700. Definitions.
Definitions.
447.700. As used in sections 447.700 to 447.718, the following termsmean:
(1) "Abandoned property", real property previously used for, or whichhas the potential to be used for, commercial or industrial purposes whichreverted to the ownership of the state, a county, or municipal government,or an agency thereof, through donation, purchase, tax delinquency,foreclosure, default or settlement, including conveyance by deed in lieu offoreclosure; or a privately owned property endorsed by the city, or countyif the property is not in a city, for inclusion in the program which willbe transferred to a person other than the potentially responsible party asdefined in chapter 260, RSMo, and has been vacant for a period of not lessthan three years from the time an application is made to the department ofeconomic development;
(2) "Allowable cost", all or part of the costs of project facilities,including the costs of acquiring the property, relocating any remainingoccupants, constructing, reconstructing, rehabilitating, renovating,enlarging, improving, equipping or furnishing project facilities,demolition, site clearance and preparation, backfill, supplementing andrelocating public capital improvements or utility facilities, designs,plans, specifications, surveys, studies and estimates of costs, expensesnecessary or incident to determining the feasibility or practicability ofassisting an eligible project or providing project facilities,architectural, engineering and legal service fees and expenses, the costsof conducting any other activities as part of a voluntary remediation andsuch other expenses as may be necessary or incidental to the establishmentor development of an eligible project and reimbursement of moneys advancedor applied by any governmental agency or other person for allowable costs.Allowable costs shall also include the demolition and reconstruction of anybuilding or structure which is not the object of remediation as defined insection 260.565, RSMo, but which is located on the site of an abandoned orunderutilized property approved for financial assistance pursuant tosections 447.702 to 447.708, provided that any such demolition is containedin a redevelopment plan approved by the director of the department ofeconomic development and the municipal or county government havingjurisdiction in the area in which the project is located;
(3) "Applicant", the person that submits an application forconsideration of a project or location or real property for financial, taxcredit or other assistance pursuant to sections 447.700 to 447.718; anapplicant may not be any party who intentionally or negligently caused therelease or potential release of hazardous substances at the eligibleproject as that term is defined pursuant to chapter 260, RSMo;
(4) "Eligible project", abandoned or underutilized property to beacquired, established, expanded, remodeled, rehabilitated or modernized forindustry, commerce, distribution or research, or any combination thereof,the operation of which, alone or in conjunction with other facilities, willcreate new jobs or preserve existing jobs and employment opportunities,attract new businesses to the state, prevent existing businesses fromleaving the state and improve the economic welfare of the people of thestate. The term "eligible project", without limitation, includes voluntaryremediation conducted pursuant to sections 260.565 to 260.575, RSMo. To bean "eligible project" pursuant to sections 447.700 to 447.718, theobligations of the prospective applicant and the governmental agency shallbe defined in a written agreement signed by both parties. The facility,when completed, shall be operated in compliance with applicable federal,state and local environmental statutes, regulations and ordinances. An"eligible project" shall be determined by consideration of the entireproject. The definition or identification of an "eligible project" shallnot be segmented into parts to separate commercial and industrial uses fromresidential uses. Any property immediately adjacent to any abandoned orunderutilized property may also be an "eligible project" pursuant tosections 447.700 to 447.718, provided that the abandoned or underutilizedproperty otherwise meets the qualifications of this subdivision;
(5) "Financial assistance", direct loans, loan guarantees, and grantspursuant to sections 447.702 to 447.706; and tax credits, inducements andabatements pursuant to section 447.708;
(6) "Governmental action", any action by a state, county or municipalagency relating to the establishment, development or operation of aneligible project and project facilities that the governmental agency hasauthority to take or provide for the purpose under law, charter orordinance, including but not limited to, actions relating to contracts andagreements, zoning, building, permits, acquisition and disposition ofproperty, public capital improvements, utility and transportation service,taxation, employee recruitment and training, and liaison and coordinationwith and among governmental agencies;
(7) "Governmental agency", the state, county and municipality and anydepartment, division, commission, agency, institution or authority,including a municipal corporation, township, and any agency thereof and anyother political subdivision or public corporation; the United States or anyagency thereof; any agency, commission or authority established pursuant toan interstate compact or agreement and any combination of the above;
(8) "Person", any individual, firm, partnership, association, limitedliability company, corporation or governmental agency, and any combinationthereof;
(9) "Project facilities", buildings, structures and otherimprovements and equipment and other property or fixtures, excluding smalltools, supplies and inventory, and public capital improvements;
(10) "Public capital improvements", capital improvements orfacilities owned by a governmental agency and which such agency hasauthority to acquire, pay the costs of, maintain, relocate or operate, orto contract with other persons to have the same done, including but notlimited to, highways, roads, streets, electrical, gas, water and sewerfacilities, railroad and other transportation facilities, and air and waterpollution control and solid waste disposal facilities;
(11) "Underutilized", real property of which less than thirty-fivepercent of the commercially usable space of the property and improvementsthereon, are used for their most commercially profitable and economicallyproductive use; or property that was used by the state of Missouri as acorrectional center for a period of at least one hundred years and whichrequires environmental remediation before redevelopment can occur, ifapproval from the general assembly has been given for any improvements to,or remediation, lease or sale of, said property;
(12) "Voluntary remediation", an action to remediate hazardoussubstances and hazardous waste pursuant to sections 260.565 to 260.575,RSMo.
(L. 1995 H.B. 414, A.L. 1998 S.B. 827, A.L. 2001 H.B. 133)