Definitions

For purposes of this Section, except as otherwise specifically provided, the following words and phrases, together with all of the common derivatives thereof (i.e. verbs, plurals, feminine, gender, etc.) shall have the meaning ascribed to them in this Section.

(a)“applicant” means a small or midsize business;

(b)“Administrator” means the Administrator of the Guam Economic Development Authority;

(c)“eligible government project” means a project that will affect one or more small or mid-size businesses as a result of construction work because the construction is anticipated to impair access for a minimum period of one month;

(d)“project” means any improvement or alteration to real property, including demolition work to clear a site;

(e)“government” means the government of Guam or its instrumentality; CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY

(f)“small business” means a business that generates gross profit less than or equal to Two Hundred Thousand Dollars ($200,000) on an annual basis, and is located in an area that is adjacent to an eligible government project;

(g)“mid-size business” means a business that generates gross profit less than or equal to One Million Dollars ($1,000,000) and gross sales less than or equal to Two Million Dollars ($2,000,000) on an annual basis, and is located in an area that is adjacent to an eligible government project; and

(h)“Program” means the Government of Guam Mitigation Program for Business Interruption.