Whenever used in this article, unless a different meaning clearly appears from the context, the following words and phrases shall have the following meanings:
(a) Applicant: A not for profit organization which is recognized by the internal revenue service as a federally tax exempt organization described in section 501(c)(3) of the code and which owns or will own a qualified project.
(b) Project Or Qualified Project: Includes any physical facility, equipment, or in certain cases, intangible property or working capital, which is a capital project including one or more buildings and other structures, whether or not on the same site or sites; and any rehabilitation, improvement, renovation or enlargement of the same or any additional buildings or structures used by a not for profit organization which is qualified under section 501(c)(3) of the code in its ordinary course of business and which the village determines will improve the welfare of the village and better provide services for its citizens.
(c) Project Costs: Any costs associated with a qualified project that comply with the qualified use requirements of the code (to the extent applicable). (Ord. 0-06-21, 5-1-2006)