LD 858
pg. 2
Page 1 of 13 An Act To Establish a Municipal Affordable Housing Development District Tax Inc... Page 3 of 13
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LR 787
Item 1

 
means and objectives designed to encourage the development and
maintenance of affordable housing within an affordable housing
development district.

 
4.__Amenities.__"Amenities" means items of street furniture,
signs and landscaping, including, but not limited to,
plantings, benches, trash receptacles, street signs, sidewalks
and pedestrian malls.

 
5.__Authority.__"Authority" means the Maine State Housing
Authority.

 
6.__Captured assessed value.__"Captured assessed value"
means the amount, as a percentage or stated sum, of increased
assessed value that is utilized from year to year to finance
the project costs contained within the affordable housing
development program.

 
7.__Current assessed value.__"Current assessed value" means
the assessed value of the district certified by the municipal
assessor as of April 1st of each year that the affordable
housing development district remains in effect.

 
8.__Director.__"Director" means the Director of the Maine
State Housing Authority.

 
9.__Financial plan.__"Financial plan" means a statement of
the project costs and sources of revenue required to
accomplish the affordable housing development program.

 
10.__Increased assessed value.__"Increased assessed value"
means the valuation amount by which the current assessed value
of an affordable housing development district exceeds the
original assessed value of the district. If the current
assessed value is equal to or less than the original, there is
no increased assessed value.

 
11.__Maintenance and operation.__"Maintenance and operation"
means all activities necessary to maintain affordable housing
after development and all activities necessary to operate the
affordable housing, including, but not limited to,
informational, promotional, safety and surveillance
activities.

 
12.__Original assessed value.__"Original assessed value"
means the assessed value of an affordable housing development
district as of March 31st of the tax year preceding the year
in which it was designated.

 
13.__Project costs.__ "Project costs" means any expenditures
or monetary obligations incurred or expected to be incurred
that


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