utility that this potential conversion would bring to a purchaser. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. Such grandfathered uses are generally legal even though they do not meet current zoning or other regulations. property is driven by this hypothetical conversion, even if it never takes place, due to the HBU acts like the perfect question for the acronym NMU since in both cases you are asking a question to the other person.
Definitions include: acronym for "love you like a brother". "Legally permissible" can be a tricky conceptual test, because even uses that are currently not permitted may be considered. Since their use predates these regulations, they are "grandfathered in". , Uniform Standards of Professional Appraisal Practice, the Uniform Standards for Federal Land Acquisition, Florida Times-Union: June 13, 2005- Rayonier: A different kind of forest products firm by Mark Basch, US Fish & Wildlife Service: October, 1998- Plum Creek Timber Company Higher and Better Use Lands and Implications for Native Fish Conservation by Jerry Sorensen. Highest and Best Use, or highest or best use (HBU), is a concept that originated with early economists such as Irving Fisher (1867-1947), who conceptualized the idea of maximum productivity. 38% (See the most vulgar words.
The Highest and Best Use as vacant may be the same or different as the Highest and Best use as improved.
on Aug 12 2018. In reality, short term constraints on availability of capital and labour, inevitable conflicts between the other key factors, as well as the predisposition and experience of the developers, often lead to developments that are not maximally productive, but are a compromise.
Find more definitions for HBU on Slang.org! A list of slang words and phrases, idioms, jargon, acronyms, and abbreviations. If you know of another definition of HBU that should be included here, please let us know. Vacant properties are generally only given the as vacant test. Definitions include: acronym for "kiss my teeth".
This may exclude uses that are not, and unlikely to become, permitted by zoning, land use planning, uses forbidden by government regulations, and uses prohibited by deed restrictions or covenants. Definitions include: an attractive person. What does HBU stand for in text In sum, HBU is an acronym or abbreviation word that is defined in simple language. Definitions include: acronym for "not work safe". Highest and Best Use, or highest or best use (HBU), is a concept that originated with early economists such as Irving Fisher (1867-1947), who conceptualized the idea of maximum productivity. Alternatively, the probable use of land or improved property – specific with respect to the user and timing of the use – that is adequately supported and results in the highest present value.". Definition of HBU in Slang/Internet Slang. The Test of Highest and Best Use is applied to an improved property both as improved and as if vacant. Online Slang Dictionary. Definitions include: in speech or writing, to be overly effusive. Other terms relating to 'Internet, texting, SMS, email, chat acronyms (list of)': Average of 2 votes: The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value of the HBU is the abbreviated term for the phrase How Bout You.  HBU definition. As the examples illustrate, even though the retail development results in the overall highest market value for the development, the residential development scenario results in the highest net return to the developer and this makes it the maximally productive use. Organizations such as the American Society of Farm Managers and Rural Appraisers (ASFMRA), the American Society of Appraisers (ASA) and the Appraisal Institute have issued guidance to their members stating that the use of non-economic valuation concepts such as the above must not be used in connection with concepts such as Market Value and Highest and Best Use when engaging in typical appraisal assignments. The economic concepts of utility and substitution drive the highest and best use analysis. If the value of the commercial lot as vacant in "House B" exceeds the value of house as a residence as improved plus demolition costs, the overall highest and best use of this property would be the as vacant value of the commercial lot. If you have any additional definitions of HBU that should be on this list, or know of any slang terms that we haven't already published, click here to let us know! Copyright 2016 Slang.org. Submitted by Walter Rader (Editor) from Sacramento, CA, USA
The slang word / phrase / acronym HBU means... . Public Interest Value”"”" is potentially the most well known alternate valuation concept and has been discussed by many authors and specifically addressed in the Uniform Standards for Federal Land Acquisition (UASFLA)”". The highest and best use of a property must be financially feasible: the proposed use of a property must generate adequate revenue to justify the costs of construction plus a profit for the developer. It’s time for some tea, fam — we’re going all out on another roll-call, and this time we’re focusing on the dankness that is Millennial slang. development of a fast food restaurant).. These three hypothetical development scenarios follow to illustrate the test of maximally productive use.
Today we’re diving deep with some of the most lit terms from 2017. of an Asian female, attractive. For example, house A in an area zoned for residential use may have a highest and best use as vacant and a highest and best use as improved that are both residential. Any potential use must be physically possible given the size, shape, topography, and other characteristics of the site. 1 definitions of HBU. A similar house B in a commercially zoned area may have a highest and best use as vacant as development to a commercial development, and the highest and best use as improved may be for continued use as a single family residence.
This page illustrates how HBU is used in messaging and chat forums, in addition to social networking software like VK, Instagram, Whatsapp, and Snapchat. lot, the highest and best use is the commercial lot use. Be warned: some of these terms have been around since before MMXVII, but our Slang.org experts have made sure to include only words that have either had a revival or are at least relevant to current slang-biosphere.  One of the earliest citations of the term is found in the Minutes of the Maine Legislature as early as 1831 in speaking about the assessment and valuation of real estate: "...the land was classified preceding such change of use, had such real estate been assessed at its highest and best use..." It is the concept in real estate appraisal that shows how the highest value for a property is arrived at. Further, there are three potential actions that can be undertaken regarding the existing improvements: Retention of the existing improvements, modification of the improvements or the development scheme of the site, or demolition and removal of the improvements. In some cases, a proposed use might be the highest and best use but for some cost that changes the net economics. According to an article prepared by an entity working with the US Fish and Wildlife Service, which was posted on the United States Fish and Wildlife Service website: “These (HBUs) are defined as lands which have higher values for their non-timber amenities such as for recreation and conservation.”. In the case of an improved property, with obvious remaining economic life, the question of financial feasibility is somewhat irrelevant. In any case where the market value of real property is sought, that value must be based on its highest and best use. This slang is mainly used to ask about the other person’s well-being and is considered to be one of the politer abbreviations. Slang squad! Do you want to find out what HBU means, the meaning of HBU, the definition of HBU, the acronym of HBU, the abbreviation of HBU? If so, then you are absolutely in the right place, because here we are going to provide you the HBU slang meaning, the HBU definition, the HBU acronym, the HBU abbreviation. To link to this term in a wiki such as Wikipedia, insert the following. See more. A property that could hypothetically be developed with residential, commercial or industrial development might only have one of those uses as its highest and best use. Definitions include: abbreviated form of "people", used in electronic communication. All of our slang term and phrase definitions are made possible by our wonderful visitors. Price of Site: $100,000 (remains unchanged in all three examples), Cost to construct 10,000 sq ft (930 m2) industrial warehouse: $750,000, Market Value of 10,000 sq ft (930 m2) industrial warehouse: $910,000, Cost to construct 10,000 sq ft (930 m2) retail strip center: $1,500,000, Market Value of 10,000 sq ft (930 m2) retail strip center: $1,840,000, Cost to construct 10,000 sq ft (930 m2) of residential condominiums: $1,200,000, Market Value of 10,000 sq ft (930 m2) of residential condominiums: $1,534,000. Finally, the use must generate the highest net return (profit) to the developer. For example, a 40,000-square-foot (3,700 m2) single story warehouse would not fit on a 10,000-square-foot (930 m2) site; therefore, that use would fail the physical possibility test. can be changed to permit the proposed use. The Appraisal Institute of Canada defines the term highest and best use as: The reasonably probable and legal use of property, that is physically possible, appropriately supported, and financially feasible, and that results in the highest value. About HBU Mission Statement The mission of Houston Baptist University is to provide a learning experience that instills in students a passion for academic, spiritual and professional excellence as a result of our central confession, "Jesus Christ is Lord." purchaser. There are many other similar concepts that are used in fields related to, yet outside of real estate appraisal as instructed in the Uniform Standards of Professional Appraisal Practice (USPAP). Definitions include: acronym for "that feeling when". Login, Register, Login instantly with Facebook. Logged-in users can add themselves to the map. Even if the house is not razed and the site sold as a commercial There are no example uses of HBU at this time.
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