§ 401 — Definitions

New York § 401

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 8: Loans to Owners of Existing Multiple Dwellings

Text

§ 401. Definitions. As used in this article the following terms shall\nmean:\n 1. a. The term "existing multiple dwelling" shall mean any dwelling\nclassified as a multiple dwelling pursuant to the multiple dwelling law\nincluding class A and class B multiple dwellings, and in existence on\nthe date upon which an application for a loan pursuant to this article\nis received by the agency.\n b. The term "existing multiple dwelling" shall also mean any building\nin existence on the date upon which an application for a loan pursuant\nto this article is received by the agency and which is intended on such\ndate to be converted to a class A or class B multiple dwelling.\n c. The term "existing multiple dwelling" shall also mean a\nnot-for-profit institution with sleeping accommodations exclusively for\npermanent residential purposes or any building in existence on the date\nupon which an application for a loan pursuant to this article is\nreceived by the agency which is intended to be converted to a\nnot-for-profit institution with sleeping accommodations exclusively for\npermanent residential purposes.\n 2. The term "agency" shall mean any officer, board, commission,\ndepartment, or other agency of the municipality, or the authority or any\nother public authority, designated by the local legislative body to\ncarry out the functions vested in the agency under this article or\ndelegated to the agency by the local legislative body in order to carry\nout the purposes and provisions of this article.\n 3. a. The term "persons or families of low income" shall mean "persons\nof low income" or "families of low income" as defined in section two of\nthis chapter.\n b. Notwithstanding the provisions of paragraph a of this subdivision,\nthe term "persons or families of low income" shall also mean any person\nor family who, immediately prior to the date on which a contract for a\nloan with respect to an existing multiple dwelling is entered into\npursuant to the provisions of this article, occupies any dwelling unit\nin such multiple dwelling and who continuously occupies such unit during\nand after completion of central heating or other rehabilitation or\nimprovement performed pursuant to such contract provided, however, that\nany person or family required to remove from any such dwelling unit\nbecause of such installation, rehabilitation or improvement shall, for\nthe purpose of this section, be deemed to have continuously occupied\nsuch unit and shall have preference in re-entering such multiple\ndwelling upon completion of the aforesaid work.\n 4. The term "occupancy date" shall mean the date defined in the\ncontract for a loan pursuant to this article between the owner of an\nexisting multiple dwelling and a municipality as the date upon which\nsuch multiple dwelling is to be deemed ready for occupancy, or if such\nterm is not defined in such contract, the date of issuance of the\ntemporary certificate of occupancy.\n 5. The term "rehabilitation", in addition to any other meaning, shall\ninclude conversion of a class B multiple dwelling or a class A multiple\ndwelling used in whole or in part for single room occupancy to a class A\nmultiple dwelling not used in whole or in part for single room\noccupancy. The term "rehabilitation" shall also include the conversion\nof any existing building to a class A or class B multiple dwelling.\n 6. The term "owner" shall mean a person having record or beneficial\ntitle in fee simple to real property or the lessee thereof under a lease\nhaving an unexpired term of at least thirty years.\n