§ 1972 — Definitions

New York § 1972

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 12: No title
• Art. 8: Miscellaneous Authorities

Text

§ 1972. Definitions. As used in this title, the following words and\nphrases shall have the following meanings unless the context shall\nindicate another or different meaning or intent:\n (1) "Authority". The corporate governmental agency created by section\nnineteen hundred seventy-three of this title.\n (2) "Bonds" and "Notes". The bonds, notes and obligations issued by\nthe authority pursuant to this title.\n (3) "City". The city of New York.\n (4) "Comptroller". The comptroller of the State of New York.\n (5) "Battery Park project area". All that portion of the City of New\nYork, County of New York, State of New York generally bounded by the\neasterly line of West Street, the northerly line of lot number 10 in\nblock 130 as shown on the tax maps of the City of New York, borough of\nManhattan, and its extensions easterly to West Street and westerly to\nthe United States pierhead line as now constituted, the said United\nStates pierhead line, the lands of Battery Park and the southerly line\nof Battery Place.\n (6) "Project". One or more works or improvements including lands,\nbuildings, improvements, real, personal or mixed property or any\ninterest therein, acquired, owned, constructed, reconstructed,\nrehabilitated or improved by the authority, or caused to be acquired,\nowned, constructed, reconstructed, rehabilitated or improved by the\nauthority within the project area as defined herein, all as the\nauthority shall deem necessary, together with lands, buildings and\nimprovements outside the project area required for relocation of city\nfacilities and for vehicular and pedestrian access roads, rights of way,\nutility and other easements to and from the project area all as the\nauthority shall deem necessary and as shall be determined by agreement\nwith the city.\n (7) "Project cost". The sum total of all costs incurred by the\nauthority in carrying out all works and undertakings which the authority\ndeems reasonable and necessary for the development of the project. These\nshall include but are not necessarily limited to the costs of all\nnecessary studies, surveys, plans and specifications, architectural,\nengineering or other special services, acquisition of land and any\nbuildings thereon, site preparation and development, construction,\nreconstruction, rehabilitation and improvement of the project area; the\nnecessary expenses incurred in connection with the initial occupancy of\nthe project; the administrative and operating expenses of the authority;\nthe cost of financing the project, including interest on bonds and notes\nissued by the authority to finance the project from the date thereof to\nthe date when the authority shall determine that the project be deemed\nsubstantially complete; the cost of other necessary items, including any\nindemnity and surety bonds and premiums on insurance, legal fees, fees\nand expenses of trustees, depositories and paying agents for the bonds\nand notes issued by the authority; relocation costs, all as the\nauthority shall deem necessary and the costs of acquisition and\nconstruction of lands, buildings and improvements outside the project\narea for relocation of city facilities whether such costs are incurred\nby the authority or by the city for and on behalf of the authority and\nfor vehicular and pedestrian access roads, rights of way, utility and\nother easements to and from the project area, all as the authority shall\ndeem necessary and as shall be determined by agreement with the city.\n (8) "Real property". Lands, structures, improvements, franchises and\ninterests in land, including lands under water, waterfront property,\nmarginal streets and riparian rights, space rights and air rights and\nany and all other things and rights usually included within said term\nand any fixtures, equipment and article of personal property affixed to\nor used in connection therewith. Real property shall also mean and\ninclude any and all interests in such property less than full title,\nsuch as easements, incorporeal hereditaments and every estate, interest\nor right, legal or equitable, including terms for years and liens\nthereon by way of judgments, mortgages or otherwise, and also all claims\nfor damages for such real estate.\n (9) "State". The state of New York.\n (10) "State agency". Any officer, board, department, commission,\nbureau, division, public corporation, agency or instrumentality of the\nstate.\n (11) "Subsidiary". A corporation created pursuant to section nineteen\nhundred seventy-four-a of this title.\n (12) "Residential housing facilities". One or more works or\nimprovements containing one or more residential dwelling units,\nincluding, but not limited to, single room occupancy units, and\nincluding the real and personal property acquired, owned, constructed,\nequipped, improved, enlarged, rehabilitated or renovated to provide such\naccommodations and such incidental and appurtenant commercial, social,\nrecreational or communal facilities, to be located without the Battery\nPark project area and within the city.\n (13) "Excess revenues". All revenues from the Battery Park project\narea in excess of those needed (i) to satisfy bond and note covenants\n(other than as they relate to bonds and notes issued pursuant to section\nnineteen hundred seventy-four-c of this title and section six hundred\nfifty-four-c of the private housing finance law) including those\ncovenants which require that the authority maintain its revenues and\nreserve funds in an amount necessary to permit it to discharge its debt\nservice obligations, (ii) to fulfill its legal and financial\ncommitments, and (iii) to pay its operating and maintenance expenses.\n (14) "Housing New York program". The housing New York program\nestablished by section four of the housing New York program act.\n (15) "Housing New York corporation". The subsidiary corporation of the\nNew York city housing development corporation created by section six\nhundred fifty-four-c of the private housing finance law.\n