§ 1281 — Definitions

New York § 1281

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 31: Housing Our Neighbors With Dignity Program

Text

§ 1281. Definitions. For the purposes of this article, the following\nterms shall have the following meanings:\n 1. "Corporation" shall mean the housing trust fund corporation\nestablished pursuant to section forty-five-a of this chapter.\n 2. "Appropriate nonprofit organization" shall mean a not-for-profit\ncorporation formed pursuant to the not-for-profit corporation law and\nexempt pursuant to section 501(c)(3) or 502(c)(4) of the Internal\nRevenue Code of 1984 as amended and that:\n (a) Has as one of such organization's primary purposes:\n (i) The provision of housing that is affordable to low-income\nfamilies; or\n (ii) The provision of services or housing for individuals or families\nexperiencing homelessness; or\n (b) Is otherwise considered by the state as a suitable housing\nmanagement organization, by a vetting process developed by the\ncorporation.\n 3. "Affordable housing" shall mean permanent housing that is\naffordable to low and moderate-income households, such that the new\nhousing achieves income averaging at or below sixty percent of the area\nmedian income, with residents' eligibility capped at a maximum of eighty\npercent of the area median income at the start of their lease.\nApplicants shall not be rejected from eligibility based on credit\nhistories or credit scores.\n 4. "Building service employee" shall mean any person who is regularly\nemployed at, and performs work in connection with the care or\nmaintenance of, a converted property in a city with a population of one\nmillion or more, including but not limited to, a watchman, guard,\ndoorman, building cleaner, porter, handyman, janitor, gardener,\ngroundskeeper, elevator operator and starter, or window cleaner.\n 5. "Distressed" shall mean an available asset that is financially\ndistressed as determined by the corporation.\n 6. "Exempt supportive housing" shall mean converted property for which\na nonprofit organization has:\n (a) entered into a regulatory agreement with a federal, state, or\nlocal government entity in a city with a population of one million or\nmore that requires:\n (i) at least fifty percent of the residential units in such converted\nproperty be reserved for homeless, disabled individuals or homeless\nfamilies with a disabled head-of-household; and\n (ii) the provision of on-site supportive services to the residents of\nat least fifty percent of the residential units; and\n (b) the remaining fifty percent of the residential units in such\nconverted property rented to households earning, on average, up to\neighty percent of the area median income, adjusted for household size.\n 7. "Experiencing homelessness" shall refer to those individuals\nresiding in shelters, transitional housing, public spaces, and other\ntypes of emergency housing.\n 8. "Fiscal officer" shall mean the comptroller of the city of New York\nor other analogous officer of such city.\n 9. "Prevailing wage" shall mean the rate of wages and supplemental\nbenefits paid in the locality to workers in the same trade or occupation\nand annually determined by the fiscal officer in accordance with the\nprovisions of section two hundred thirty-four of the labor law.\n 10. "Rent stabilized" shall mean collectively, the rent stabilization\nlaw of nineteen hundred sixty-nine, the rent stabilization code, and the\nemergency tenant protection act of nineteen seventy-four, all as in\neffect as of the effective date of the chapter of the laws of two\nthousand twenty-one that added this subdivision or as amended\nthereafter, together with any successor statutes or regulations\naddressing substantially the same subject matter.\n 11. "Small converted property" shall mean a converted property project\n(a) to improve no more than one hundred nineteen residential units in\none or more buildings; and (b) which has received financial assistance\npursuant to this article.\n