As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent:

(1)  “Economic development project” means a project undertaken by the economic development corporation for the acquisition, improvement and development of land and facilities thereon, for sale or lease to, and use by private industry and business (or for the discharge of indebtedness incurred by the port authority in connection with the foregoing activities) and shall include, without limiting the generality of the foregoing, the development of industrial parks, the acquisition of lands, buildings and other improvements, the installation, construction or reconstruction of site improvements, utilities, sewerage and water lines and systems, water towers, roads, rights-of-way, easements, engineering services, and other expenses related to the acquisition, improvement, and disposition of the project.

(2)  “Project area” means the area within which the development project is located.

(3)  “Rhode Island economic development corporation” means the public corporation and governmental agency and instrumentality of the state created pursuant to the Rhode Island Economic Development Corporation Act, or any subsidiary corporation approved by the general assembly.

(4)  “The Rhode Island Economic Development Corporation Act” means chapter 64 of this title, as amended or supplemented from time to time.