Wherever used in this chapter:

(1)  “Historic and industrial mill building” means an industrial building built prior to January 1, 1949 and meets one of the following:

(i)  Listed on the national register of historic places, as maintained by the U.S. Department of Interior;

(ii)  Eligible for listing on the local historic register, as established by the Pawtucket historic district commission;

(iii)  Not worthy to be nominated to the register, but determined to be eligible for the program by the Pawtucket city council.

(2)  “Housing unit” means a new residential unit created within a historic industrial mill building.

(3)  “Renovate” means conversion of a historic industrial mill building to create residential use by substantial rehabilitation.