Rhode Island General Laws Title 42. State Affairs and Government § 42-64.24-3. Definitions

(1) “ Applicant” means a developer or occupant applying for a loan or conditional loan under this chapter.

(2) “ Business” means a corporation as defined in § 44-11-1, or is a partnership, an S corporation, a nonprofit corporation, sole proprietorship, or a limited liability corporation.

(3) “ Capital investment” in a redevelopment project means costs or expenses by a business or any affiliate of the business incurred after application for:

(4) “ Commission” means the I-195 district commission.

(5) “ Developer” means a person, firm, corporation, partnership, association, political subdivision, or other entity that proposes to divide, divides, or causes to be divided real property into a subdivision or proposes to build, or builds a building or buildings or otherwise improves land or existing structures, which division, building, or improvement of land qualifies for benefits under this chapter.

(6) “ I-195 land” means the surplus land within the city of Providence owned by the I-195 district commission and any other property any portion of which abuts, is located across the street from, or is within five hundred feet (500′) of said surplus land.

(7) “ Occupant” means a business as a tenant, owner, or joint venture partner, occupying space pursuant to a lease or other occupancy agreement on the I-195 land or a project developed on such land.

(8) “ Personal property” means furniture, fixtures, and equipment, except automobiles, trucks, or other motor vehicles, or materials that otherwise are depreciable and have a useful life of one year or more, that are utilized for the redevelopment project for any given phase of the redevelopment project inclusive of a period not to exceed six (6) months after receipt of a certificate of occupancy for the given phase of the development.

(9) “ Project cost” means the costs incurred in connection with a project by an applicant until the issuance of a permanent certificate of occupancy, or until such other time specified by the commerce corporation.

(10) “ Project financing gap” means: