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Oregon Revised Statutes Title 26A. Economic Development § 285B.050

Current as of January 01, 2023 | Updated by Findlaw Staff

As used in ORS 285B.050 to 285B.098, unless the context requires otherwise:

(1) “Applicant” means any county, municipality, person or any combination of counties, municipalities or persons applying for a loan from the Oregon Business Development Fund under ORS 285B.050 to 285B.098.

(2) “Business development project” means the acquisition, engineering, improvement, rehabilitation, construction, operation or maintenance of any property, real or personal, that is used or is suitable for use by an economic enterprise and that will result in, or will aid, promote or facilitate, development of one or more of the following activities:

(a) Manufacturing or other industrial production;

(b) Agricultural development or food processing;

(c) Aquacultural development or seafood processing;

(d) Development or improved utilization of natural resources;

(e) Convention facilities and trade centers;

(f) Transportation or freight facilities; and

(g) Other activities that represent new technology or type of economic enterprise the Oregon Business Development Commission determines is needed to diversify the economic base of an area but not including:

(A) Construction of office buildings, including corporate headquarters; and

(B) Retail businesses, shopping centers or food service facilities.

(3) “Collateral” has the meaning given that term in ORS 79.0102 for property subject to a security interest.

(4) “County” means any county or federally recognized Oregon Indian tribe.

(5) “Local development group” means any public or private corporation that has as one of its primary purposes, as stated in its articles of incorporation, charter or bylaws, the promotion of economic development in any part of the State of Oregon.

(6) “Municipality” means any city, municipal corporation or quasi-municipal corporation.

(7) “Person” means any individual, association of individuals, joint venture, partnership, limited liability company or corporation.

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Cite this article: FindLaw.com - Oregon Revised Statutes Title 26A. Economic Development § 285B.050 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-26a-economic-development/or-rev-st-sect-285b-050/

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