Recently I asked the City of Greensboro to provide me with a couple of legal definitions for some terms often tossed around downtown. They are as follows:
Economic development generally refers to the sustained, concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area.
Real estate development, or property development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others.
You'll notice that neither mentions the other.
They also provided me with the Agenda Preparation Form for the Good Repair Ordinance Loan Program.
