In <cite data-path="17.04.01">this chapter</cite>, the following terms have the meanings indicated. Terms Defined.“Beneficiary” means any person who:has a contract with the City for more than $300,000; or will benefit from more than $5,000,000 in assistance for a City subsidized project. “City-subsidized project” means any project for which the City or any of its agents or contractors provides funds, resources, or financial assistance, including:the sale or transfer of land substantially below its appraised value. payment in lieu of taxes, tax increment financing, grants or loans that equal or exceed 15% of total projected project costs; or installation or repair of physical infrastructure directly related to the project and with value equal to or exceeding 5% of total projected project costs. “Good faith effort’ as used in Article 5, §27-6(b)(1) means a set of activities conducted by the contractor, vendor or other person demonstrating multiple outreach efforts to City residents including:ads in local papers, paid local job boards, information to local educational and workforce organizations, and an objective review and rating of resumes of City residents. “Local hiring law” means the provisions of Article 5, Subtitle 27 and these regulations. “MOED” means the Mayor’s Office of Employment Development. “Person” means:an individual; a partnership, firm, association, corporation, or other entity of any kind; or a receiver, trustee, guardian, personal representative, fiduciary, or representative of any kind. "Satisfactory special workforce development training or placement arrangement" as used in Article 5, §27-6(b)(3) means a written agreementwith MOED or a recognized workforce partner for a customized training or on-the-job training opportunity leading to unsubsidized employment. “Substantially below appraised value” as used in Article 5, §27-1(c)(1) meansthe sale or transfer of land applicable to property that has been approved and sold for an amount below 30% of the appraised value.