§ 1221. Definitions. As used in this article:\n 1. "Corporation" shall mean the housing trust fund corporation\nestablished in section forty-five-a of this chapter.\n 2. "Eligible applicant" shall mean a unit of local government or\nnot-for-profit corporation in existence for a period of one or more\nyears prior to application, which is, or will be at the time of award,\nincorporated under the not-for-profit corporation law and has been\nengaged primarily in community development activities.\n 3. "Eligible area" shall mean an area:
(i)that has experienced\nsustained physical deterioration, decay, neglect, or disinvestment;
(ii)\nhas a number of substandard buildings or vacant residential or\ncommercial units; and (iii) in which more than fifty percent of the\nresidents are persons of
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§ 1221. Definitions. As used in this article:\n 1. "Corporation" shall mean the housing trust fund corporation\nestablished in section forty-five-a of this chapter.\n 2. "Eligible applicant" shall mean a unit of local government or\nnot-for-profit corporation in existence for a period of one or more\nyears prior to application, which is, or will be at the time of award,\nincorporated under the not-for-profit corporation law and has been\nengaged primarily in community development activities.\n 3. "Eligible area" shall mean an area: (i) that has experienced\nsustained physical deterioration, decay, neglect, or disinvestment; (ii)\nhas a number of substandard buildings or vacant residential or\ncommercial units; and (iii) in which more than fifty percent of the\nresidents are persons of low income, or which is designated by a state\nor federal agency to be eligible for a community or economic development\nprogram.\n 4. "Main street program" or "program" shall mean a proposal by an\neligible applicant for a specific work or series of works for the\nrevitalization and improvement of an eligible area through the creation,\npreservation or improvement of residential housing units; local\ncommercial facilities; public facilities or other aspects of the area\nenvironment. Not less than eighty percent of the total amount awarded\npursuant to this article in any fiscal year shall be allocated to main\nstreet programs that include the creation, preservation or improvement\nof residential housing units as an objective.\n 5. "Persons of low income" shall mean those persons and families whose\nincomes do not exceed ninety percent of the area median income for the\ncounty in which a project is located as calculated by the United States\ndepartment of housing and urban development.\n