N.Y. Private Housing Finance Law 1201 – Definitions
§ 1201. Definitions. As used in this article:
Terms Used In N.Y. Private Housing Finance Law 1201
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: shall mean the housing trust fund corporation established in section forty-five-a of this chapter. See N.Y. Private Housing Finance Law 1201
- Disabled veteran: shall mean a veteran who is certified by the United States department of veterans affairs or the department of defense as entitled to receive disability payments upon the certification of such department for a disability incurred by him or her in time of war. See N.Y. Private Housing Finance Law 1201
- Eligible applicant: shall mean a city, town, village 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 substantial experience in adapting or retrofitting homes for persons with disabilities. See N.Y. Private Housing Finance Law 1201
- Eligible property: shall mean a housing unit that is the primary residence of a person with a physical disability and a total household income that does not exceed eighty percent of median income or a disabled veteran who has a total household income that does not exceed one hundred twenty percent of median income. See N.Y. Private Housing Finance Law 1201
1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter.
2. "Eligible applicant" shall mean a city, town, village 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 substantial experience in adapting or retrofitting homes for persons with disabilities.
3. "Disabled veteran" shall mean a veteran who is certified by the United States department of veterans affairs or the department of defense as entitled to receive disability payments upon the certification of such department for a disability incurred by him or her in time of war.
4. "Access to home programs" or "programs" shall mean a series of activities by an eligible applicant to administer funds to provide either loans or grants to homeowners and renters and to oversee the adaptation or retrofitting of eligible properties.
5. "Eligible property" shall mean a housing unit that is the primary residence of a person with a physical disability and a total household income that does not exceed eighty percent of median income or a disabled veteran who has a total household income that does not exceed one hundred twenty percent of median income. A property shall not be considered an eligible property if the owner of the property is otherwise obligated by federal, state or local law to provide the improvements funded under this article.