N.Y. Private Housing Finance Law § 1111: Definitions

§ 1111. Definitions. 1. "Home" shall mean a one to four family

dwelling which has at least one owner occupant or an owner occupied unit

in a cooperative or a condominium.

2. "Eligible applicant" shall mean a city, a town, a village, a

housing development fund company incorporated pursuant to article eleven

of this chapter, any not-for-profit corporation or charitable

organization which has as one of its primary purposes the improvement of

housing or a municipal housing authority created pursuant to the public

housing law, or a public benefit corporation formed to assist particular

municipalities with their housing, community development or renewal

needs, or a county, provided, however, that the county acts as an

administrator of a program under which projects are constructed,

rehabilitated or improved by other eligible applicants or acts in any

other capacity as permitted by law.

3. "Grantee" shall mean an eligible applicant which operates a program

of financial assistance pursuant to this article.

4. "Owner" shall mean an individual who owns or agrees to purchase a

home assisted under this program and to occupy it as his principal place

of residence or a partnership, corporation or other entity which will

build or rehabilitate vacant properties for sale to home buyers.

5. "Home buyers" shall mean individuals or households for whom there

are no other reasonable and affordable homeownership, rehabilitation or

home improvement alternatives, as the case may be, in the private

market, as determined by the grantee and who shall occupy a home

assisted under this article as their principal place of residence.

6. "Rehabilitation" or "home improvement" shall mean all work

necessary to bring a structure into compliance with all applicable laws

and regulations including but not limited to the installation,

replacement or repair of heating, plumbing, electrical and related

systems and the elimination of all hazardous and immediately hazardous

violations in the structure in accordance with state and local laws and

regulations of state and local agencies. Rehabilitation or home

improvement may also include reconstruction or work to improve the

habitability or prolong the useful life of residential property.

7. "Corporation" shall mean the affordable housing corporation created

by section forty-five-b of this chapter.

8. "Affordable home ownership development programs" or "Project" shall

mean the rehabilitation, improvement, construction or acquisition,

singly or in combination, of one or more homes.