N.Y. Social Services Law § 410-e: Definitions

§ 410-e. Definitions. As used in this title the following words and

phrases shall have the following meanings unless a different meaning is

plainly required by the context:

1. "Board". The state board of social welfare.

2. "Commissioner". The commissioner of social services of the state

of New York.

3. "Department". The state department of social services.

4. "Eligible borrower". A non-profit corporation organized under the

laws of the state of New York which is authorized to care for children

and which has entered into a regulatory agreement in accordance with the

provisions of section four hundred ten-f of this title.

5. "Project." "Youth facilities project." A specific work or

improvement, including lands, buildings, improvements, fixtures and

articles of personal property acquired, constructed, rehabilitated,

managed, owned and operated by an eligible borrower to provide day care

in the manner prescribed by the department for children of pre-school

and primary school age or to provide residential child care in the

manner prescribed by the rules of the board for children of pre-school,

primary school or secondary school age, or to provide any combination of

the foregoing, and for facilities incidental or appurtenant thereto.

6. "Project cost". "Youth facilities project cost". The sum total

of all costs incurred by an eligible borrower as approved by the

commissioner as reasonable and necessary for carrying out all works and

undertakings and providing all necessary equipment for the development

of a project exclusive of any private or federal, state or local

financial assistance available for and received by an eligible borrower

for the payment of such project cost. These shall include but are not

necessarily limited to the carrying charges during construction or

rehabilitation up to and including the occupancy date, working capital

not exceeding three percentum of the estimated total cost or three

percentum of the actual total final cost, whichever is larger, the cost

of all necessary studies, surveys, plans and specifications,

architectural, engineering, legal or other special services, the cost of

acquisition of land and any buildings and improvements thereon, site

preparation and development, construction, reconstruction and equipment,

including fixtures, equipment, and articles of personal property

required for the operation of the project, the reasonable cost of

financing incurred by the eligible borrower in the course of the

development of the project, up to and including the occupancy date, the

fees imposed by the commissioner and by the New York state housing

finance agency; other fees charged, including any premium payments to

the youth facilities project guarantee fund created by the youth

facilities project guarantee fund act, and necessary expenses incurred

in connection with the initial occupancy of the project, and the cost of

such other items as the commissioner may determine to be reasonable and

necessary for the development of a project, less any and all rents and

other net revenues from the operation of the real property, improvements

or personal property on the project site, or any part thereof, by the

eligible borrower on and after the date on which the contract between

the eligible borrower and the New York state housing finance agency was

entered into and prior to the occupancy date.

7. "Occupancy date". The date defined in the documents providing for

a mortgage loan between an eligible borrower and the New York state

housing finance agency.

8. "Youth facilities development fund company". A company

incorporated and organized pursuant to subdivision two of section four

hundred ten-n of this title.

9. "Youth Facilities Center" means a facility suitable to provide day

care for children of pre-school age and primary school age or to provide

residential child care for children of pre-school, primary school or

secondary school age or to provide any combination of the foregoing,

which has been approved by the state department of social services.