§ 451 — Definitions

New York § 451

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 8-A: Small Loans to Owners of Multiple Dwellings to Remove Substandard or Insanitary Conditions

Text

§ 451. Definitions. As used in this article the following terms shall\nmean:\n 1. "Existing multiple dwelling." Any dwelling classified as a multiple\ndwelling pursuant to the multiple dwelling law and in existence on the\ndate upon which an application for a loan pursuant to this article is\nreceived by the municipality. For purposes of this article an existing\nmultiple dwelling shall be deemed to include any garden-type maisonette\ndwelling project consisting of a series of dwelling units which together\nand in their aggregate were arranged or designed to provide three or\nmore apartments and are provided as a group collectively with all\nessential services such as, but not limited to, water supply, house\nsewers and heat, and which are in existence and operated as a unit under\nsingle ownership on the date upon which an application for a loan\npursuant to this article is received by the municipality,\nnotwithstanding that certificates of occupancy were issued for portions\nthereof as private dwellings.\n 2. "Occupancy by persons of low income." Occupancy by "persons of low\nincome" or "families of low income," as such terms are defined in\nsection two of this chapter.\n 3. "Owner." An individual, partnership, corporation or other entity,\nincluding a non-profit company, a mutual company, or a housing\ndevelopment fund company, which holds record or beneficial title in fee\nsimple to the multiple dwelling and the real property upon which it is\nsituate or the lessee thereof under a lease the unexpired term of which\nshall be not less than the term of the loan to be made under this\narticle.\n 4. "Federal grant funds." Any grants received from the United States\nof America for community development activities or for the\nrehabilitation or conservation of multiple dwellings.\n