§ 572 — Definitions

§ 572. Definitions. As used in this article, the following terms shall\nmean and include:\n 1. "Commissioner." The commissioner of housing and community renewal\nof the state of New York.\n 2. "Comptroller." The comptroller of the state of New York in the\ncontext of the housing development fund established by section five\nhundred seventy-four of this article, or the comptroller or chief fiscal\nofficer of a municipality in the context of the municipal housing\ndevelopment fund established pursuant to section five hundred\nseventy-four-a of this article, as the case may be.\n 3. "Development cost." The cost approved by the commissioner or the\nsupervising agency, as the case may be, as appropriate expenditures\nwhich may be incurred prior to commitment and initial advance of the\nproceeds of a mortgage, including but not limited to: (a) payments for\noptions to purchase properties on the proposed housing project site,\ndeposits on contracts of purchase, or, with prior approval of the\ncommissioner or the supervising agency, as the case may be, payments for\nthe purchase of such properties; (b) legal and organizational expenses,\nincluding payment of attorneys' fees, project manager and clerical staff\nsalaries, office rent and other incidental expenses; (c) payment of fees\nfor preliminary feasibility studies, advances for planning, engineering\nand architectural work; (d) expenses for tenant or home ownership\nsurveys and market analyses; (e) necessary application and other fees;\n(f) bridge loans which shall mean such interim financing as may be\nnecessary for the development of residential properties and which shall\nbe repaid out of equity which may include proceeds from the syndication\nof the federal low income housing tax credit as established pursuant to\nthe federal internal revenue code; and (g) such other expenses incurred\nby the housing development fund company or housing corporation as the\ncommissioner or the supervising agency, as the case may be, may deem\nappropriate to effectuate the purposes of this article.\n 4. "Division." The division of housing and community renewal in the\nexecutive department of the state of New York.\n 5. "Federally-aided mortgage." A mortgage made or insured by the\nfederal government or any agency or instrumentality thereof, or a\nmortgage loan entered into in conjunction with a housing assistance\npayments contract in connection with new construction or substantial\nrehabilitation pursuant to section eight of the United States Housing\nAct of 1937, as amended.\n 6. "Fund." The housing development fund created by section five\nhundred seventy-four of this article, or a municipal housing development\nfund established pursuant to section five hundred seventy-four-a of this\narticle, as the case may be.\n 7. "Gross project cost." The sum total of all reasonable and necessary\ncosts incurred by a housing development fund company for carrying out\nall works and undertakings for the development of a housing project.\nThese shall include but not necessarily be limited to the cost of all\nnecessary studies, surveys, plans and specifications, architectural,\nengineering, legal or other special services, financing, acquisition,\ndemolition, construction, equipment, and site development of new and\nrehabilitated buildings, rehabilitation, reconstruction, repair or\nremodeling of existing buildings, and the cost of tenant placement and\ntenant relocation services in connection with a project.\n 8. "Housing project." A specific work or improvement undertaken by a\nhousing development fund company to provide dwelling accommodations,\nincluding the acquisition, construction and/or rehabilitation of lands,\nbuildings and improvements, and such commercial, social, recreational,\ncommunal or other non-housing facilities as may be incidental or\nappurtenant thereto.\n 8-a. "State urban development corporation project." A project\nacquired, owned, constructed, managed or operated by a housing\ndevelopment fund company which is a subsidiary of the New York state\nurban development corporation, as the term "subsidiary" is defined in\nthe New York state urban development corporation act.\n 8-b. "Farmworker housing project." A specific work or improvement that\nis undertaken by one or more agricultural producers for the construction\nor improvement of dwelling accommodations for farmworkers who are not\nfamily members of the agricultural producers. For the purposes of this\nsection only, an "agricultural producer" shall mean a person or entity\nwhich owns or operates land eligible for an agricultural assessment\npursuant to section three hundred five or section three hundred six of\nthe agriculture and markets law and which produces food by the tillage\nof the soil, or raises, sheers, feeds or manages animals or other\ndairying processes.\n 9. "Housing development fund company." A company incorporated and\norganized pursuant to section five hundred seventy-three of this\nchapter.\n 10. "Local legislative body." In a city, the board of aldermen, common\ncouncil, commission, or other board or body now or hereafter vested with\njurisdiction to enact ordinances or local laws, except that if there be,\nin a city of one million population or more, a board of estimate, the\nterm shall mean only such board of estimate; in a town, the town board;\nin a village, the board or trustees; in a county, the board of\nsupervisors.\n 11. "State-aided mortgage." A loan made by the state of New York or\nany agency or instrumentality thereof.\n 12. "Taxing jurisdiction." Any municipal corporation or district\ncorporation, including any school district or any special district,\nhaving the power to levy or collect taxes and benefit assessments upon\nreal property, or in whose behalf such taxes or benefit assessments may\nbe levied or collected.\n 13. "Municipally-aided Mortgage." A loan made by a municipality\npursuant to the provisions of article two of this chapter to a mutual\ncompany as defined in section twelve of this chapter or to a non-profit\ncompany incorporated pursuant to the provisions of the not-for-profit\ncorporation law and article two of this chapter, or a loan made by a\nmunicipality pursuant to the provisions of article eight of this chapter\nto a mutual company as defined in section twelve of this chapter or to a\nnot-for-profit corporation incorporated pursuant to the provisions of\nthe not-for-profit corporation law and this article or a temporary\nconstruction loan or advance or a permanent loan that the supervising\nagency certifies is made pursuant to the provisions of article fifteen\nof this chapter to a mutual company as defined in section twelve of this\nchapter or to a not-for-profit corporation incorporated pursuant to the\nprovisions of the not-for-profit corporation law and this article.\n 14. "Supervising Agency." The comptroller in a municipality having a\ncomptroller; in a municipality having no comptroller, the chief fiscal\nofficer of such municipality; except that in the city of New York it\nshall be the department of housing preservation and development.\n 15. "Housing corporation." A not-for-profit or charitable corporation\nwhich has as one of its primary purposes the improvement of housing for\npersons of low income, or a wholly owned subsidiary of such corporation\nor organization.\n 16. "Local loan administrator." A farm credit bureau or member of the\nfarm credit system or a banking institution with a demonstrated ability\nto provide financial assistance and service to agricultural producers\nthat have entered into a master servicing agreement prescribed pursuant\nto section five hundred seventy-six-d of this chapter.\n