N.Y. Priv. Hous. Fin. Law § 1121

Current through 2024 NY Law Chapter 443

Section 1121 - Definitions

For the purposes of this article:

1. "Agency" shall mean the New York state housing finance agency created by section forty-three of this chapter.

2. "Cooperative project" or "project" shall mean any manufactured home park property which, subsequent to receiving assistance under this article, will be owned as a cooperative by the owners of the manufactured homes situated therein.

3. "Eligible applicant" shall mean a manufactured home residents' association representing a majority of the manufactured home residents, a manufactured home park cooperative, a municipality, a housing development fund company incorporated pursuant to article eleven of this chapter, or any not-for-profit corporation or charitable organization which has as one of its primary purposes the improvement of housing.

4. "Infrastructure improvement" shall mean the construction, reconstruction, improvement, reconditioning, and preservation, including the acquisition of real property and interests therein required or expected to be required in connection therewith, of roads, bridges, sewage and water collection and disposal systems, lighting districts, sidewalks, and other capital projects which will benefit the cooperative as a whole.

5. "Manufactured home park" shall mean a manufactured home park as defined in section two hundred thirty-three of the real property law.

6. "Manufactured home park cooperative" shall mean a corporation or other entity formed for the purpose of owning a manufactured home park wherein the ownership of such shares, membership interest or certificate of membership will entitle the owners or holders thereof to occupancy in such park pursuant to section three hundred fifty-two-e of the general business law.

N.Y. Priv. Hous. Fin. Law § 1121