N.Y. Private Housing Finance Law § 1261: Definitions

§ 1261. Definitions. As used in this article:

1. "Corporation" shall mean the housing trust fund corporation

established in section forty-five-a of this chapter.

2. "Eligible applicant" shall mean a unit of local government or

not-for-profit corporation in existence for a period of one or more

years prior to application, which is, or will be at the time of award,

incorporated under the not-for-profit corporation law and has been

engaged primarily in housing and community development activities.

3. "Residential emergency services to offer home repairs to the

elderly programs" shall mean a series of activities by an eligible

applicant to administer funds to provide either loans or grants to

homeowners sixty years of age or older, with a household income of less

than one hundred percent of the area median income, to oversee the

adaptation or retrofitting of eligible properties.

4. "Eligible property" shall mean a housing unit that is the primary

residence of a person that is sixty years of age or older and have a

household income that does not exceed one hundred percent of the area

median income.