§ 1121 — Definitions

New York § 1121

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 20: Manufactured Home Cooperative Fund Program

Text

§ 1121. Definitions. For the purposes of this article:\n 1. "Agency" shall mean the New York state housing finance agency\ncreated by section forty-three of this chapter.\n 2. "Cooperative project" or "project" shall mean any manufactured home\npark property which, subsequent to receiving assistance under this\narticle, will be owned as a cooperative by the owners of the\nmanufactured homes situated therein.\n 3. "Eligible applicant" shall mean a manufactured home residents'\nassociation representing a majority of the manufactured home residents,\na manufactured home park cooperative, a municipality, a housing\ndevelopment fund company incorporated pursuant to article eleven of this\nchapter, or any not-for-profit corporation or charitable organization\nwhich has as one of its primary purposes the improvement of housing.\n 4. "Infrastructure improvement" shall mean the construction,\nreconstruction, improvement, reconditioning, and preservation, including\nthe acquisition of real property and interests therein required or\nexpected to be required in connection therewith, of roads, bridges,\nsewage and water collection and disposal systems, lighting districts,\nsidewalks, and other capital projects which will benefit the cooperative\nas a whole.\n 5. "Manufactured home park" shall mean a manufactured home park as\ndefined in section two hundred thirty-three of the real property law.\n 6. "Manufactured home park cooperative" shall mean a corporation or\nother entity formed for the purpose of owning a manufactured home park\nwherein the ownership of such shares, membership interest or certificate\nof membership will entitle the owners or holders thereof to occupancy in\nsuch park pursuant to section three hundred fifty-two-e of the general\nbusiness law.\n