(1) "Applicant" means any county, municipality, person or any combination of counties, municipalities or persons applying for a loan from the Oregon Business Development Fund under ORS 285B.050 to 285B.098.

(2)(a) "Business development project" means the acquisition, engineering, improvement, rehabilitation, construction, operation or maintenance of any property, real or personal, including working capital expenses, that is used or is suitable for use by an economic enterprise and that will result in, or will aid, promote or facilitate, development of traded sector activities.

(b) "Business development project" includes, but is not limited to, convention facilities, destination facilities and office buildings, including corporate headquarters, and is a project that:

(A) Is located in Oregon and in the traded sector or that supports traded sector activities; or

(B) If engaged in by a nonprofit organization:

(i) Will not compete with local for-profit businesses; and

(ii) Need not be in the traded sector nor support traded sector activities.

(c) "Business development project" does not include shopping centers, food service facilities or activities that are engaged in by retail and service businesses that are not in the traded sector unless otherwise allowed under ORS 285B.059 (5).

(3) "Collateral" has the meaning given that term in ORS 79.0102 for property subject to a security interest.

(4) "County" means any county or federally recognized Oregon Indian tribe.

(5) "Local development group" means any public or private corporation that has as one of its primary purposes, as stated in its articles of incorporation, charter or bylaws, the promotion of economic development in any part of the State of Oregon.

(6) "Municipality" means any city, municipal corporation or quasi-municipal corporation.

(7) "Person" means any individual, association of individuals, joint venture, partnership, limited liability company or corporation.

(8) "Traded sector" has the meaning given that term in ORS 285B.280.

(9) "Traded sector activities" means activities that produce goods or services for the traded sector. [Formerly 285.403; 2001 c.445 §171; 2003 c.167 §1; 2007 c.804 §40; 2009 c.830 §49; 2011 c.558 §1; 2017 c.37 §1]