As used in this act:

  (a) “Borrower” means either of the following:

  (i) The city, village, township, or county operating under this act.

  (ii) A commission created under this act if empowered by ordinance of the creating governing body to act as a borrower for purposes of issuing bonds or notes under this act.

  (b) “Business activity” means that term as defined in section 3(2) of the former single business tax act, 1975 PA 228, or in section 105 of the Michigan business tax act, 2007 PA 36, MCL 208.1105.

  (c) “Commission” means the housing commission created under this act.

  (d) “Governing body” means in the case of a city, the council or commission of the city; in the case of a village, the council, commission, or board of trustees of the village; in the case of a township, the township board; and in the case of a county, the board of supervisors or county commissioners.

  (e) “Incorporating unit” means the city, village, township, or county that creates a commission.

  (f) “Ordinance” means either of the following:

  (i) An ordinance of a city, village, township, or county.

  (ii) To the extent the incorporating unit has granted or empowered a commission to take those actions otherwise required to be taken by the incorporating unit by ordinance, a resolution of the commission.

  (g) “Township” means a township having a population over 100.