The Association of Equipment Manufacturers (AEM) is a North American-based international trade group representing off-road equipment manufacturers and suppliers, with a focus on sectors such as agriculture, construction, forestry, mining, and utilities.
A Blue Top Lot refers to a parcel of land that has achieved specific legal and physical readiness for development, typically including entitlements, grading, and close proximity to utilities. Variations exist in definitions regarding the presence and status of street improvements.
A Finished Lot refers to a parcel of land that has been prepared for immediate construction with essential infrastructure, legal clearances, and utilities in place.
Infrastructure refers to the fundamental public works and physical organizational structures needed for the functioning of a society or neighborhood, including roads, bridges, water and sewer systems, drainage systems, and essential public utilities.
An irrigation district is a special-purpose, quasi-governmental entity designed to provide water and other utilities to rural areas, primarily for agricultural use.
A Municipality Utility District (MUD) is a special purpose district designed to provide utility services such as water, sewage, drainage, and sometimes other services to a limited geographic area. Established as a municipality rather than a private entity, MUDs can leverage lower interest rates available to municipal bonds to finance infrastructure development.
Operating expenses in real estate refer to the costs incurred to operate and maintain a property. These include expenses like property taxes, utilities, hazard insurance, and maintenance, while excluding financing expenses and depreciation.
Proration refers to the division of expenses or income proportionally based on the time used or the amount consumed between parties in a real estate transaction. This ensures fair allocation of costs such as property taxes, utilities, and homeowner association fees based on the agreed terms.
Site improvements refer to modifications and enhancements made to a parcel of land to increase its usability, safety, and appearance, facilitating better utility of any structures built on it.
Utilities refer to essential services like water, sewer, gas, electricity, and telecommunications that are needed for the operation of a building. Understanding utilities is crucial for managing operational costs in both residential and commercial properties.
A utility easement is a legal right granted to a utility company or public service entity to use or access specific portions of a property for the purpose of laying and maintaining infrastructure such as electric, gas, water, and sewer lines.
