(a) all terms defined in article seventeen of this chapter shall have the same meanings herein as specified therein; and

(b) the following terms shall have the following meanings:

(1) "rural area revitalization project" means a specific work or series of works for the revitalization and improvement of a region of the rural area of the state through creation, preservation or improvement of housing resources; creation, preservation or improvement of local commercial facilities; restoration or improvement of public facilities or other aspects of the area environment; related community preservation or renewal activities; or any combination of the above.

(2) "qualified applicant" means a not-for-profit corporation under contract pursuant to article seventeen of this chapter or any other locally based organization which is either incorporated under the not-for-profit corporation law (or such law together with any other applicable law) or, if unincorporated, is not organized for the private profit or benefit of its members.

(3) "Corporation" means the housing trust fund corporation established in section forty-five-a of this chapter.