[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR314.1]

[Page 635-636]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 314_PROPERTY--Table of Contents
 
                            Subpart A_General
 
Sec.  314.1  Definitions.


    In addition to the defined terms set forth in Sec.  300.3 of this 
chapter, the following terms shall have the following meanings:
    Adequate Consideration means the fair market value at the time of 
sale or lease of any Property, as adjusted, in EDA's sole discretion, by 
any services, property exchanges, contractual commitments, acts of 
forbearance or other

[[Page 636]]

considerations that are in furtherance of the authorized purposes of the 
Investment Assistance, which are received by the Recipient or Owner in 
exchange for such Property.
    Disposition or Dispose means the sale, lease, abandonment or other 
disposition of any Property and also includes the Unauthorized Use of 
such Property.
    Estimated Useful Life, as used in this part, means the period of 
years that constitutes the expected useful lifespan of a Project, as 
determined by EDA, during which EDA anticipates obtaining the economic 
development benefits of its Investment.
    Federal Interest has the definition ascribed to it in Sec.  
314.2(a).
    Federal Share has the definition ascribed to it in Sec.  314.5.
    Owner means a fee owner, transferee, lessee or optionee of any 
Property. The term Owner also includes the holder of other interests in 
a Property where the interests are such that the holder effectively 
controls the use of such Property.
    Personal Property means all tangible and intangible property other 
than Real Property.
    Property means Real Property, Personal Property and mixed property.
    Real Property means any land, whether raw or improved, and includes 
structures, fixtures, appurtenances and other permanent improvements, 
excluding moveable machinery and equipment. Real Property includes land 
that is improved by the construction of Project infrastructure such as, 
but not limited to, roads, sewers and water lines that are not situated 
on or under the land, where the infrastructure contributes to the value 
of such land as a specific purpose of the Project.
    Successor Recipient means an EDA-approved transferee of Property 
pursuant to Sec.  314.3(d). A Successor Recipient must be an Eligible 
Recipient of Investment Assistance.
    Unauthorized Use means any use of Property acquired or improved in 
whole or in part for purposes not authorized by EDA Investment 
Assistance, PWEDA or this chapter, as set forth in Sec.  314.4.