Glossary Term Listing
Property owner who owns property at one location but lives or operates a business at another location.
Assessed Value (AV):
The amount used by the San Bernardino County Tax Assessor to value real property for tax purposes. Assessed value is generally the market value of property. Assessed value multiplied by the tax rate determines property tax.
The year in which the redevelopment plan was adopted.
The total assessed value of property within a project area in the year in which the redevelopment plan is approved.
Areas and/or structures in Fontana which constitute either physical, social, or economic liabilities requiring redevelopment in the interest of the health, safety, and general welfare of the people of Fontana.
California Community Redevelopment Law:
Redevelopment law of the state contained in California Health and Safety Code, Division 24, Part 1 (Section 33000 et seq.).
Refer to blighted areas.
Clearance or removal of a structure in order to carry out the redevelopment plan.
Authority of the Agency to acquire property at fair market value for public purposes (not to be confused with meaning public buildings and improvements only). Also known as condemnation.
Fair Market Value:
The highest price on the date of the valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for doing so, nor obligated to sell, and a buyer, being ready, willing, and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all uses and purposes for which the property is reasonably adaptable and available.
Federal Highway Administration (FHWA):
The FHWA establishes the priorities and direction for the nation's highways and national transportation system.
Public improvements which support development including: streets, traffic signals, street lighting, sewers, flood control facilities, water lines, gas lines, telephone lines, etc.
What a willing seller could reasonably expect to receive if he/she were to sell the property on the open market to a willing buyer.
When the price to be paid for land and improvements is mutually agreed upon by the buyer and seller.
The area that is designated in the redevelopment plan for redevelopment and revitalization.
Project Area Committee:
An elected citizens' committee composed of project area residents, business persons, and representatives of organizations to consult with and advise the Agency.
The amount of tax that a property owner pays on the value of his/her property. The tax is calculated by multiplying the assessed value of the property by the tax rate, which is 1% plus any voter approved increase.
Planning, development, re-planning, redesign, clearance, reconstruction, or rehabilitation of all or part of a project area.
The governing body in Fontana created to designate redevelopment project areas, supervise and coordinate planning for a project area, and implement the redevelopment plan.
Plan for revitalization and redevelopment of land within the project area in order to eliminate blight and remedy the conditions that caused it.
To improve, alter, modernize, or modify an existing structure to make it safe, sanitary, and decent and/or bring it up to Fontana building code standards.
The effort to assist and facilitate re-housing of families and single persons, businesses, or organizations who are displaced due to redevelopment activities.
Relocation payments intended to help assist families, individuals, businesses, and non-profit organizations that are displaced as a result of redevelopment activities. This includes aid in finding a new location, payments to help cover moving costs, and additional payments for certain other costs.
Tax Allocation Bond:
A bond or financial obligation issued by the Agency in order to generate funds to implement the redevelopment plan. The bond is repaid with tax increments flowing to the Agency as a result of actions of the Agency to revitalize the project area.
The increase in property taxes within the redevelopment project area that result from increases in the project area assessed value that exceeds the base year assessed value.
Transportation Equity Act for the 21st Century (TEA 21):
TEA-21 was enacted June 9, 1998, as Public Law 105-178. TEA-21 authorized the federal surface transportation programs for highways, highway safety, and transit for the six-year period from 1998-2003.