§ 17-78-101 — Definitions.

As used in this chapter:
(1) "Adjusted present value" means:
(1)(a) the disposition price; plus
(1)(b) the anticipated future value.
(2) (2)(a) "Anticipated future value" means the total value of all reasonably anticipated future benefits to a county from the disposal of a significant parcel of real property, including:
(2)(a)(i) increased tax revenues; and
(2)(a)(ii) job creation or maintenance.
(2)(b) "Anticipated future value" does not include the present fair market value of the significant parcel of real property.
(3) "Dispose" means to sell or lease.
(4) "Disposition price" means the price a potential purchaser or lessee offers to pay in exchange for the sale or lease of a significant parcel of real property.
(5) "Federal agency" means any department of the executive branch of the federal government.
(6) "Flood plain" means the land along the course of a river or stream which is periodically flooded and for which flood control protective works would normally be provided or desirable.

Legislative History

Enacted by Chapter 14, 2025 Special Session 1