Wisconsin § 234.01 - Definitions.

§ 234.01. Definitions.

In this chapter: 234.01(1) (1) “Authority” means the Wisconsin Housing and Economic Development Authority. 234.01(2) (2) “Authority cost” means any costs incurred by the authority in carrying out and administering any of its powers, duties and functions including, but not limited to, costs of financing by the authority, service charges, insurance premiums and administrative and operating costs of the authority. 234.01(3) (3) “Business incubator” means a facility designed to encourage the growth of new businesses, if at least 2 of the following apply: 234.01(3)(a) (a) Space in the facility is rented at a rate lower than the market rate in the community. 234.01(3)(b) (b) Shared business services are provided in the facility. 234.01(3)(c) (c) Management and technical assistance are available at the facility. 234.01(3)(d) (d) Businesses using the facility may obtain financial capital through a direct relationship with at least one financial institution. 234.01(3m) (3m) “Collateral” means a 3rd-party note, mortgage, guaranty, insurance policy, bond, letter of credit, security agreement or other instrument securing the repayment of an economic development loan or a mortgage loan. 234.01(4) (4) “Development costs” mean the costs which have been approved by the authority as appropriate expenditures including but not limited to: 234.01(4)(a) (a) Payments for options to purchase properties on the proposed housing project site, deposits on contracts of purchase, or with the prior approval of the authority, payments for the purchase of such properties; 234.01(4)(b) (b) Legal, organizational and marketing expenses, including payment of attorney fees, project manager and clerical staff salaries, office rent, and other incidental expenses; 234.01(4)(c) (c) Payment of fees and preliminary feasibility studies and advances for planning, engineering and architectural work; 234.01(4)(d) (d) Expenses for surveys as to need and market analyses; 234.01(4)(e) (e) Necessary application and other fees to federal and other government agencies; and 234.01(4)(f) (f) Such other expenses incurred by the eligible sponsor as the authority deems appropriate to effectuate the purposes of this chapter. 234.01(4m) (4m) “Economic development loan” means an advance of moneys, supported by a written promise of repayment, to finance an economic development project. 234.01(4n) (4n) “Economic development project” means any of the following: 234.01(4n)(a) (a) Land, plant or equipment for any of the following: 234.01(4n)(a)1. 1. Facilities for manufacturing or commercial real estate activities. 234.01(4n)(a)2. 2. National or regional headquarters facilities. 234.01(4n)(a)3. 3. Facilities for the storage or distribution of products of manufacturing activities, materials, components, or equipment. 234.01(4n)(a)3m. 3m. Facilities for the retail sale of goods or services. 234.01(4n)(a)4. 4. Facilities for research and development activities. 234.01(4n)(a)5. 5. Recreational and tourism facilities serving to attract visitors to this state. 234.01(4n)(a)6. 6. Facilities for the production, packaging, processing or distribution of raw agricultural commodities. 234.01(4n)(a)7. 7. Facilities for engaging in the business of operating a railroad. 234.01(4n)(a)8. 8. Facilities for recycling as defined in s. 287.13 (1) (h) . 234.01(4n)(b) (b) Activities of a long-term nature, such as research and development or long-term working capital. 234.01(4n)(c) (c) Equipment, materials or labor used to make an energy-conserving improvement to a commercial or industrial facility. 234.01(5) (5) “Eligible sponsor” means any housing corporation, limited-profit entity or nonprofit corporation or any other entity meeting criteria established by the authority and which is organized to provide housing for persons and families of low and moderate income. 234.01(5k) (5k) “Financial institution” means a bank, savings bank, savings and loan association, credit union, insurance company, finance company, mortgage banker licensed under s.