1. “Blighted conditions” means conditions which, because of the presence of a majority of the following factors, substantially impair or arrest the sound development and growth of the municipality or constitute an economic or social liability or are a menace to the public health, safety, morals or welfare in its present condition and use:

2. “Governing body” means the city council, city commission or town board of trustees;

3. “Neighborhood” means a contiguous geographic area within a city or town that is characterized by a predominant building style or function, and may apply to residential, commercial or industrial areas;

4. “Program plan” means a plan for the redevelopment of all or a portion of a redevelopment district, which the governing body of a city or town has found to contain blighted conditions, so that the clearance, replatting, rehabilitation or reconstruction thereof is necessary to effectuate the purposes of this act;

5. “Project plan” means a specific work or improvement to effectuate all or a portion of a program plan;

6. “Redevelopment” shall mean the clearance, planning, construction, rehabilitation, or renovation of all or a portion of a redevelopment district, and the provision for such industrial, commercial, retail, residential or public structures and spaces as may be appropriate, including recreational and other facilities incidental or appurtenant thereto;

7. “Redevelopment district” means that portion of a city or town which the governing body of such city or town has found to contain blighted conditions;

8. “Redevelopment plan” means a plan for the redevelopment of all or a portion of a redevelopment district; and

9. “Redevelopment trust” means a public trust established in accordance with Section 176 et seq. of Title 60 of the Oklahoma Statutes which has the power to undertake redevelopment activities.