(1) "Department" means the South Carolina Department of Revenue.
(2) "Project" means any land and any buildings and other improvements on the land including, without limiting the generality of the foregoing, water, sewage treatment and disposal facilities, air pollution control facilities, and all other machinery, apparatus, equipment, office facilities, and furnishings which are considered necessary, suitable, or useful by a sponsor.
(3) "Sponsor" means one or more entities which sign the fee agreement with the county and also includes a sponsor affiliate unless the context clearly indicates otherwise.
(4) "Sponsor affiliate" means an entity that joins with or is an affiliate of a sponsor and that participates in the investment in, or financing of, a project.
(5) "Title to the property" as provided in Section 4-12-30 includes either record title or a leasehold or other interest including, without limitation, a sponsor or sponsor affiliate's interest in a nordic, synthetic, defeased tax benefit, or transfer lease.