In this section the following words have the meanings indicated. “Business improvement district” means a business improvement district established under Title 12, Subtitle 4 of the Economic Development Article in the county. “Neglected property” means improved or unimproved real property that: is zoned for commercial, industrial, or nonresidential use by the district council; and has been abandoned, blighted, or condemned. “Purple Line” has the meaning stated in § 2–103.8 of the Transportation Article. “Transit–oriented development” has the meaning stated in § 7–101 of the Transportation Article. “Transit–oriented development” includes light rail stops that are located on the Purple Line in Prince George’s County. This section does not apply to State–owned property. The county may exercise the power of eminent domain on neglected property in an area that: has been designated as a transit–oriented development; and is located in a business improvement district. Neglected property obtained under this section is intended to be developed or redeveloped for an economic development purpose in the county. Land or property taken by the county through the exercise of eminent domain under this section: may only be taken for a public purpose, including for private development that is consistent with a public purpose; and may not be taken without just compensation, as agreed on between the parties, or awarded by a jury, being first paid or tendered to the party entitled to the compensation, in accordance with Title 12 of the Real Property Article.