(1) "Affordable housing" means residential housing that is rented or owned by a person who qualifies as a very low-income, low-income, or moderate-income household as those terms are defined in RCW 43.63A.510 as now written or hereafter amended.

(2) "Capitalized asset" means any fixed asset that meets the capitalization requirements established by the department of finance pursuant to SCC 2.100.030(5).

(3) "Civil forfeiture property" means property acquired or held by the county as a result of a civil forfeiture action authorized by chapter 10.46 SCC, unless and until the property is retained for official use.

(4) "Council" means the Snohomish county council.

(5) "Emergency" means a situation in which it is highly probable that county property will suffer material injury, loss or damage by delayed action.

(6) "Environmentally sensitive area" means property zoned as flood or slide hazardous property; wetlands; property that provides access to public lakes, rivers or creeks; and property containing hazardous material as determined by the department of public works.

(7) "Executive" means the Snohomish county executive or his or her designee.

(8) "Fair market value" means the amount of money that a well-informed person, willing but not obliged to enter into a transaction to purchase, lease, obtain an interest in or obtain a right to use property, would pay, and that a well informed property owner, willing but not obliged to entered into the transaction, would accept, taking into consideration all reasonable potential uses of the property.

(9) "Lot" means two or more properties of a like kind grouped together for purposes of management or disposition.

(10) "Worthless property" means property that when processed as surplus in the manner most advantageous to the county is not of sufficient value to recoup more than the cost of sale, recycling, or disposal. (Added by Res. adopted Dec. 18, 1978; Amended by Ord. 93-137, Dec. 22, 1993, Eff date Jan. 1, 1994; Amended by Ord. 04-014, Feb. 23, 2004, Eff date Mar. 4, 2004; Amended by Amended Ord. 07-102, Oct. 24, 2007, Eff date Nov. 8, 2007; Amended by Amended Ord. 08-139, Oct. 20, 2008, Eff date Nov. 16, 2008; Amended by Ord. 14-080, Sept. 24, 2014, Eff date Oct. 10, 2014).