As used in §§ 14-169-708 — 14-169-713, unless the context otherwise requires:
(1) “Governing body” means the legislative body of a municipality;
(2) “Housing authority” means any public corporation created under § 14-169-207;
(3) “Municipality” means a city of the first class, a city of the second class, or an incorporated town; and
(4) “Undertaken” means: Real property has been purchased for the urban renewal project;
(5) A contract for the purchase of real property for the urban renewal project has been executed; or
(6) A housing authority has received funds for the planning or execution of the urban renewal project.