Sec. 2. As used in this chapter, "bordering property" means a parcel of land:
(1) of which any part lies within one thousand (1,000) feet from any part of the right-of-way of Meridian Street; and
(2) that:
(A) is within a radius of seven hundred fifty (750) feet from; and
(B) lies north or south of;
the north or south terminus of Meridian Street.