AAA tenant:
... a tenant with
an exceptionally high credit rating or one that lends prestige
to a lease-property or real estate development. AAA is
the strongest credit rating used by Standard & Poor's
(S&P) for example a
D credit rating is the weakest. For more information
about tenant credit ratings see STAG Tenant
Credit 101, published online by the Greater
Boston Real Estate Board (GBREB.com) and the Different
Lease Types file of NetLeasedRetail.com or Google
above for keywords: tenant credit ratings AAA AA
abatement:
... a reduction or decrease in the amount, degree,
intensity or worth. A tax abatements is an
example of an incentive offer that might be made to an
economic
development prospect.
absorption rate:
... measure or estimate of how much real estate
in a defined area is taken in to a projected or intended
use within a specified time-period, usually a year. Business
Dictionary.com uses the term to provide a definition
of recovery rate. The definition of absorption as it relates
to real estate is defined in the Business
Dictionary of Answers.com.
AC:
... initials that on the one hand may stand for Area
Code when used with contact
data listings on .network webpages.
AC stands for Air Conditioning also.
acre ... Site Location Assistance
website has real
estate measurement conversions.
accreditation:
... recognition that qualifying
standards have been met. The International
Economic Development Council, for example, may recognize
a local
development agency after it has certain standards.
Likewise, the association provides credentials to its members
as economic
developers. For more information about accreditation
in the fields of enterprise
development and site
selection as well as economic development, CLICK
HERE.
accretion:
... the gradual and imperceptible addition of
land by alluvial deposits of soil through natural causes,
such as a shoreline change caused by water movement.
acquisition:
... the act of gaining control or ownership of
all or part of an enterprise; the act
of obtaining a real estate site, property, supplies or
services by purchase or lease. An enterprise
developer may consider the acquisition of an existing
operation at the same time that he has a site
selector on the hunt for a property. A site
selector may seek to acquire an available
building at the same time he hunts for
a real
estate site. Buying a building is referred to as
a property acquisition. Likewise, a greenfield real estate purchase may be called a site acquisition.
actuary:
... someone who calculates values of life interests,
pension plans, and annuities.
adjusted basis:
... original cost minus certain deductions, plus
certain improvement costs
ad valorem:
... based on value (Latin) method of
assessing and taxing property: ad
valorem tax.
agreement in principle:
... a stage of negotiating or making a deal.
An AIP is generally a pre-legal commitments by all parties
to a negotiation that, although considered firm, is conditional
on, say, approvals by regulatory authorities.
AEDC:
... initials used to identify an EDO (economic
development organization), such as the Adirondack
Economic Development Corporation, Saranac Lake, NY,
or the Atikokan Economic Development Corporation,
Atikokan, ON. The initials also stood at one time for for American
Economic Development Council which was renamed from
the American Industrial Development Council in 1980.
AIDC was founded in 1930 under US Chamber of Commerce
sponsorship.
ADO:
... Area Development Organization,
an EDO that
is an area development agency.
affidavit:
... a legally authorized written statement made
under oath, a sworn statement.
affiliate:
... a working relationship having a
degree of control one over another
or by a third party which may include sharing management,
ownership, facilities,
or equipment as well as cooperating in marketing and sales
or exchanging information or personnelsee .network affiliations.
affordable housing:
... a calculation of the average cost of single
family residences as measured against the average income
of potential buyers or renters. As a rule of thumb the
cost of a residence for a buyer should be no more than
three times annual household income.
after-tax:
... income adjusted for the effect that taxes
due or paid have upon it'd.
agency:
... an organization authorized as a representativesee area
development agency. Agent usually refers to
an individual but can mean an organizationsee real
estate agent
air rights:
... the right to use the open space or clear
vertical plane above a property.
aleatory contract:
... a binding agreement that depends upon a contingency
or uncertain event.
ally:
... a supporter as a stakeholder but not an affiliate.
A stakeholder is affected by what goes on with an aim towards
benefiting from it but is not managed or controlled, only
influenced. Relationships are often touted as
partnerships in economic
development circles when allies
working together want to be noticed. Networking to
get things done is so basic to economic development that
building and maintaining ally
networks is an absolutely
essential task.
allodial system:
... a system allowing free and full ownership
of land with all rights pertaining to it by individuals.
US real property law is based on an allodial system as
opposed to a feudal system, wherein ownership of rights
in land are vested in a sovereign.
alternative workweek:
... a substrate chosen to replace what is established
as the accepted schedule of hours and/or days that the
majority of workers
and employers
adhere to in a location.
ambient:
... the immediately surrounding area. Ambient
temperature is air temperature measured in extremes and
averaged in an immediately surrounding area for a specified
time, such as a hot month or cold month. When selecting
a site for an industrial operation that the public will
suspect is an air polluter, whether true or not, the assumption
can be made at the outset that locations with frequent
temperature inversions should not be considered. Temperature
inversions are atmospheric conditions in which air temperatures
increase vertically upward thorough layers as reversals
of normal conditions. Locations in which they occur are
more likely to experience air quality problems.
amenity:
... a tangible/intangible feature that enhances
and adds to value or perceived value.
amortize:
... the act of reducing a debt through installments.
Amortization is the reduction of a financial obligation
by making payments against the principal balance in installments
or regular
transfers in order to to write off the cost of an asset
over a period of time in a statement of accounts.
anchor:
... a buyer or lessee strategically located in
a real estate development or property in order to enhance,
bring attention to or increase traffic, for
example a retail development's anchor tenant.
ancillary labor:
... workers not actually in a labor
market such
as retirees, separating military personnel, students or
spouses that have no record of seeking a job in a market
under analysis labor, a classification of auxiliary workers
counted in a labor pool for their potential as workers.
Labor pools containing potential supplemental workers are
sometimes referred to as ancillary labor pools.
Angel Investor:
... an individual not classified as a speculator but
who nevertheless commits money to something without the
normal expectation of financial
return
and
who has less concerned for risk;
a term used to describe those who provide financial support
for non-profit entrepreneurial startups, business incubators,
innovative enterprise development and the like.
annex:
... the act of joining or adding one property,
area or thing to another; annexation.
annuity:
... a contract that creates
an asset which, when called upon (annuitized) as agreed,
pays a constant amount for a fixed period of time or for
a lifetime to its named depositor. It's best know use is
for building retirement income. To annuitize
is to begin withdrawal. The length of the interval
that the contract establishes between payments is called
an annuity period.
ANSI:
... initials used to identify the American
National Standards Institute (www.ansi.org)
antitrust law:
... a means of regulating monopolies and preserving
business competition. Laws in the USA view economic
competition as a condition in which fair prices can be
determined through market forces without the interference
from interests that would control them for private gain.
Lawsuits brought against alleged violators of antitrust
laws are called antitrust suits.
apples to apples:
... an expression that indicates a valid comparisonsee comparative
analysis.
apples to oranges
... an expression that indicates that a comparison
is not validsee
apples to apples.
appraisal:
... a valuation estimate by a person with acceptable
credentials, for example an official who estimates the
worth or value of property (see ad
valorem) on behalf of a taxing authority. In
the case of the example, the official comes up with an appraised
value that can be taxed at the rate established by
the taxing authority in order to generate revenues for
its
jurisdiction. There are three approaches to value: (1)
cost;
(2) sales
comparison; and, (3) income
capitalization. A definition
of appraisal in Site Location Assistance.com list them
as simply the coast approach, the market approach, and
the income approachsee
appraised
value (real estate).
arbitrage:
... an attempt to profit by price
differential exploitationmore from
InvestorWords.com.
area:
... as in a demarcated region or geographic
area which
is defined here as having locations;
a region with
its people and/or outsiders interested in its economic
development; a region selected for
a site
search by a prospectsee
the definition of local
economic development.
area developer / area development ... definitions in
economic development.net
area development agency:
... an ADO; authorized representative
for a number of places seeking
economic
development.
area development directory:
... a list of resource
and service providers,
with contact
data, engaged in enterprise
and economic development in a defined geographic
area; an economic
development directory, for
example, Economic Development.net has an area
development section. Its area is global.
area development resource guide:
... an area development directory that
has information about resources and services available
in addition contact
data, for example, the Global
Registry of Contacts. Its a global guide to resource
and service providers that is used to deliver
on the search promise of The Network. Those who
are engaged in enterprise
and economic development are
offered to opportunity
of having a record in the GRC for free. To
apply for or update a record in the GRC one is requested to provide
information about services and service area.
arm's length:
... a transaction during which the parties deal
from equal bargaining positions and stand upon the strict
letter of the law or act in a formal manner on all exchanges.
assessment:
... an official valuation of real property for
tax purposes. It's generally based on an appraisal.
assessment ratio:
... the relative assessed value of a property
to what it might bring if offered for sale as used to establish
taxabilityan
ad valorem tax burden
which is a capital amount calculated for collection by
a taxing
authority. Answers.com has more
information about assessment ratio. Also, see appraised
value (real estate) in Site Location Assistance.com.
asset:
... something owned that can be converted to
capital (a capital
asset); a possession that has value in an exchange.
See
the definition
of asset provided by InvestorWords.com.
asset manager:
... one who administers of the assets of
an enterprise in order to maximize return; a real estate
assets manager. Asset managers are specialist in
large corporations, for example, the terms as applied in
the business of site selection is an update of the now
passe corporate real
estate
executivesee
National Association of Corporate Real Estate Executives.
Site Selection Magazine is the official publication of
an association
of industrial real estate asset
managers. Asset management as applied today in the business
of enterprise development
is an extension of a generally accepted definition of the
term simply stating that it
is money management.
association:
... an organization with a membership having
interests in common; an organized body of people who come
together as a special
interest group. The activity of networking is
basic to the associationmembers
get together and talk to one another at
meetings. Chambers
of commerce as business associations
(for
example) and trade
associations worldwide are most important to
the
mission of
The Network. The glossary you are using has
a
page where
you can find definitions of various types of networks.
CLICK
HERE to search for a specific association (examples).
.
assumptions:
... specifications tentatively stated with a
plan or at the beginning of a project so that they can
be challenged; matches for a set of site selection criteria
or project justifications that are to be challenged in
support of the decision making process. See, for example,
the assumption under ambient as
if it were applicable to a specific location under consideration.
Assumptions must eventually be proved to be true or capital
invested in expansion, relocation or startup projects is
at risk.
at risk
... a condition that signals the possibility
of loss. See the definitions of risk
analysis and risk
management, two things that enterprise
developers must do to avoid having at-risk companies on their hands. More
information about risk in Site Location Assistance.com.
attraction
... a responsibility that economic
developers have when representing locations;
i.e., they work at developing prospects.
The responsibility stems from a principle stating:
(The) the entire set of approaches to (the
practice) may be considered a specialized form
of marketing. Attraction is also a tourism term;
e.g., IAAPA is an acronym for the International
Association of Amusement Parks and Attractions,
a trade association that is important
to tourism as economic developmentSee
the resource paper: Tourism
as Economic Development: A Brief Guide for Communities
and Enterprise Developers.
attractiveness of the area:
... AKA attractiveness of the region,
attractiveness of the location, attractiveness
of the community or the like. Such expressions are used in promoting the
livability
appeal or quality
of life factors of a place
of interest to economic
development prospects.
attrition:
... the gradual reduction in the number of employees.
Attrition is brought about by not replacing those who leave
an employer or a workforce. The personnel loss from the
workforce of a relocating company or operation, at its
original location, and replaced at the new location, is
sometimes counted as attrition, although the loss my not
be so gradual.
available building:
... a structure offered for sale or lease. Available
buildings include shells which are only partially constructed
so that they can be completed to specifications. Buildings
speculatively constructed are called spec buildings. A
spec isn't necessarily a shell, however. It may be built
so that it can be occupied as is or with little finishing
work left to do. Want to begin a search from here for an
available building in a location of
interest to you? Copy and paste the following words in
italics in the search
box at the top of this page,
then select the search the Web button. Be sure to replace
the word location with the name of the place you
want to search for. If this were more than a demonstration
you would need to make contact with someone, such as a
local economic
development representative and provide more
information about what you want; i.e. square footage,
ceiling height, other selection
criteria:
Search the Web for ... available building location
economic development
avulsion:
... the sudden and unexpected loss or removal
of land that occurs due to a violent action of nature,
such as a flood.
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