For purposes of this section, the following terms shall have the meanings set forth:
IMMEDIATE RISK
A condition or circumstance which poses an immediate threat to the health or safety of individuals or their property.
SHORT-TERM RISK
A condition or circumstance which, while posing a serious threat to the health or safety of individuals or their property, is not likely to occur so soon as to be an immediate danger.
LONG-TERM RISK OR NUISANCE
A condition or circumstance which does not pose an immediate threat to the health or safety of individuals or their property, but could cause a hazard or create a physical or esthetic nuisance if not corrected.