As used in this chapter, the term:

(1) "Authority" means the Georgia Medical Center Authority.

(2) "Cost of the project" means the cost of construction; the cost of all lands, properties, rights, easements, and franchises acquired; the cost of all machinery and equipment; financing charges; interest prior to and during construction and for one year after completion of construction; the cost of engineering, architectural, and legal expenses and of plans and specifications and other expenses necessary or incident to determining the feasibility or practicability of the project; administrative expenses; the cost of intellectual property; and such other expenses as may be necessary or incident to the financing authorized in this chapter, the construction of any project, the placing of the same in operation, and the condemnation of property necessary for such construction and operation. Any obligation or expense incurred for any of the foregoing purposes shall be regarded as a part of the cost of the project and may be paid or reimbursed as such.

(3) "Project" means and includes one or any combination of the following: biomedical and biotechnical research centers, facilities, and programs based in Augusta, Georgia, to include office space, laboratories, treatment centers, and other related buildings, structures, equipment, as well as associated facilities such as parking facilities and common areas; and improvements of every kind and character deemed by the authority necessary or convenient for its purposes.