As used in this article:

Terms Used In N.Y. Private Housing Finance Law 921

  • Commissioner: shall mean the commissioner of the state division of housing and community renewal. See N.Y. Private Housing Finance Law 921
  • Corporation: shall mean the housing trust fund corporation established in section forty-five-a of this chapter. See N.Y. Private Housing Finance Law 921
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Division: shall mean the division of housing and community renewal. See N.Y. Private Housing Finance Law 921
  • Municipality: shall mean any unit of local government within the state with a population of more than twenty thousand persons. See N.Y. Private Housing Finance Law 921

1. “Commissioner” shall mean the commissioner of the state division of housing and community renewal.

2. “Division” shall mean the division of housing and community renewal.

3. “Eligible applicant” shall mean a not-for-profit corporation or charitable organization, organized for a period of one or more years, which is either incorporated under the not-for-profit corporation law (or such law together with any other applicable law) or, if unincorporated, is not organized for the private profit or benefit of its members and has been engaged primarily in community preservation activities.

4. “Municipality” shall mean any unit of local government within the state with a population of more than twenty thousand persons.

5. “Neighborhood” shall mean an area within the municipality identified by recognized or established boundaries consistent with a determination of neighborhood eligibility under article sixteen of this chapter.

6. “Urban initiatives projects” or “projects” shall mean a specific work or series of works for the revitalization and improvement of a neighborhood through creation, preservation or improvement of residential housing units; preservation or improvement of local commercial facilities and public facilities or other aspects of the area environment which include as part of its project the creation, preservation or improvement of residential housing units.

7. “Persons of low income” shall mean those persons and families whose incomes do not exceed eighty percent of the median income for the metropolitan statistical area in which a project is located.

8. “Corporation” shall mean the housing trust fund corporation established in section forty-five-a of this chapter.

9. “Division urban initiatives program” shall mean the program heretofore administered by the division pursuant to appropriations and reappropriations for the purposes of urban initiatives programs.