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Unless otherwise defined, for the purpose of this title the terms defined herein shall have the meanings provided below unless the context makes the meaning manifestly inapplicable thereto:

Classified” means set aside borough land for lease or sale, taking into account the highest and best use of the land at the time.

Fair market value” means the highest price, described in terms of money, which the property would bring if exposed for sale for a reasonable time in the open market, with a seller, willing but not forced to sell, and a buyer, willing but not forced to buy, both being fully informed of all the purposes for which the property is best adapted or could be used.

Improvements” means buildings and other similar types of structures permanently fixed to the land. In no event shall fill be considered a permanent improvement when placed on the land solely for the purpose of disposing of waste or spoils. However, fill material actually utilized for beneficial purposes shall be considered a permanent improvement.