§ 352 — Definitions

§ 352. Definitions. As used in this article the following words and\nphrases shall have the following meanings unless a different meaning is\nplainly required by the context:\n 1. "Company", or "community senior citizens centers and services\ncompany". A company, duly incorporated pursuant to the provisions of the\nnot-for-profit corporation law and this article, for the purpose of\nproviding centers for the aging, and such facilities as may be\nincidental or appurtenant thereto.\n 2. "Project" or "community senior citizens services project". A\nspecific work or improvement, including lands, buildings, improvements,\nfixtures and articles of personal property, constructed, acquired,\nreconstructed, rehabilitated, managed, owned or operated by a company\npursuant to this article, to provide centers for the aging, including\nsuch facilities as may be incidental or appurtenant thereto.\n 3. "Project cost" or "community senior citizens services project\ncost". The sum total of all costs incurred by a company approved by the\ncommissioner as reasonable and necessary for carrying out all works and\nundertakings and providing all necessary equipment for the development\nof a project, less any private or federal, state or local financial\nassistance available for and received by the company for the payment of\nsuch project cost. These shall include but are not necessarily limited\nto the carrying charges during construction up to and including the\noccupancy date, working capital not exceeding three per centum of the\nestimated total cost or three per centum of the actual total final cost,\nwhichever is larger, the cost of all necessary studies, surveys, plans\nand specifications, architectural, engineering, legal or other special\nservices, the cost of acquisition of land and any improvements thereon,\nsite preparation and development, construction, reconstruction,\nrehabilitation, improvement and equipment, including fixtures,\nequipment, and articles of personal property required for the operation\nof such facilities, the reasonable cost of financing incurred by the\ncompany in the course of the development of the project, up to and\nincluding the occupancy date, the fees imposed by the commissioner and\nby the New York state housing finance agency; other fees charged, and\nnecessary expenses incurred in connection with the initial occupancy of\nthe project, and the cost of such other items as the commissioner may\ndetermine to be reasonable and necessary for the development of a\nproject, less any and all rents and other net revenues from the\noperation of the real property, improvements or personal property on the\nproject site, or any part thereof, by the company on and after the date\non which the contract between the company and the New York state housing\nfinance agency was entered into and prior to the occupancy date.\n 4. "Occupancy date". The date defined in the document providing for a\nmortgage loan between a company and the New York state housing finance\nagency.\n 5. "Commissioner". The commissioner of social services of the state of\nNew York.\n 6. "Department". The department of social services of the state of New\nYork.\n