(a)      In this title the following words have the meanings indicated.

      (b)      "Administration" means the Community Development Administration.

      (c)      "Division" means the Division of Development Finance.

      (d)      "Elderly rental housing project" means a project that meets the qualifications in § 4-407 of this title.

      (e)      "Nonprofit sponsor" means a sponsor that is:

            (1)      a nonprofit organization; or

            (2)      a limited partnership, if:

                  (i)      1.      each general partner is a nonprofit organization; or

                        2.      each general partner is a wholly owned subsidiary of a nonprofit organization;

                  (ii)      the limited partnership is formed to undertake a project that is eligible as a whole or in part for a federal program or incentive, including low-income housing tax credits; and

                  (iii)      a nonprofit organization manages the project or will receive the net cash flow or residual sale proceeds on the sale of the project.