Terms Used In Rhode Island General Laws > Chapter 23-19.16 - Brownfields Revolving Loan Fund

• Agency: means the Rhode Island infrastructure bank as set forth in Rhode Island General Laws 23-19.16-2
• Approved project: means any project approved by the agency for financial assistance;

  (3)  "Brownfield project" means a project proposed by a city, town, person or corporation that would provide for the remediation and/or development of a site within the state of Rhode Island defined as a brownfield site pursuant to § 101 of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended;

  (4)  "Corporation" means any corporate person, including, but not limited to, bodies politic and corporate, corporations, societies, associations, partnerships, limited liability companies, sole proprietorships and subordinate instrumentalities of any one or more political subdivisions of the state;

  (5)  "Department" means, for purposes of this chapter, the department of environmental management;

  (6)  "Eligible borrower" or "borrower" means a person, corporation, city, town, or other political subdivision or instrumentality of the state;

  (7)  "Eligible project" means a brownfield project, or portion of a brownfield project, that meets the project evaluation criteria;

  (8)  "Financial assistance" means any form of financial assistance provided by the agency to an eligible borrower in accordance with this chapter for all or any part of the cost of an approved project, including, without limitation, temporary and permanent loans, with or without interest, grants, guarantees, insurance, subsidies for the payment of debt service on loans, lines of credit, and similar forms of financial assistance;

  (9)  "Person" means any natural person;

  (10)  "Project evaluation criteria" means the criteria used by the department to evaluate and rank eligible projects and shall include the extent to which the project generates economic benefits, the extent to which the project would be able to proceed, the cost effectiveness of the project; and

  (11)  "Revolving fund" means the brownfields revolving fund established under this chapter. See Rhode Island General Laws 23-19.16-2

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Lien: A claim against real or personal property in satisfaction of a debt.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• Trustee: A person or institution holding and administering property in trust.