Sec. 4. As used in this chapter, "project" means an undertaking that:
(1) furthers the purposes of this chapter;
(2) involves the acquisition of property for new and existing state and local parks, state historic or archeological sites, state forests, state and local nature preserves, fish and wildlife areas, wetlands, local conservation areas, trails, or river corridors; and
(3) is eligible to receive an expenditure from the fund.