N.Y. MHY Law § 75.05 — New York Code / Act MHY / Title E / Article 75 / Section 75.05
Definitions
Status: in_force

§ 75.05 Definitions.\n  As used in this article the following words and phrases shall have the\nfollowing meanings unless a different meaning is plainly required by the\ncontext:\n  1. "Company", "community mental health services company" or "community\ndevelopmental disabilities services company". A company, duly\nincorporated pursuant to the provisions of the not-for-profit\ncorporation law and this article, for the purpose of providing for the\ncare, treatment, training, education, and residence of the mentally\ndisabled, and such facilities as may be incidental or appurtenant\nthereto.\n  2. "Project", "community mental health services project" or "community\ndevelopmental disabilities services project". A specific work or\nimprovement, including lands, buildings, improvements, fixtures, and\narticles of personal property, constructed, acquired, reconstructed,\nrehabilitated, managed, owned, or operated by a company pursuant to this\narticle, to provide community residential facilities for operation as\nhostels for the mentally disabled or for the care, treatment, training,\neducation of the mentally disabled, or both, including such facilities\nas may be incidental or appurtenant thereto.\n  3. "Local governmental unit." A local governmental unit established\npursuant to the provisions of article eleven of this chapter.\n  4. "Project cost", "community mental health services project cost" or\n"community developmental disabilities services project cost". The sum\ntotal of all costs incurred by a company as approved by the commissioner\nas reasonable and necessary for carrying out all works and undertakings\nand providing all necessary equipment for the development of a project\nless any portion of any state, federal or municipal assistance grant, as\nthe commissioner shall, prior to the making of a mortgage loan by the\nNew York state housing finance agency to a company, determine to be\navailable to reimburse the company for the payment of such project costs\nprior to the initial occupancy of the project, and all costs relating to\nthe refinancing of existing indebtedness associated with the development\nof the project which constitutes a lien or other encumbrance upon the\nreal property or assets of a company to be mortgaged or otherwise\npledged to the agency. These shall include but are not necessarily\nlimited to the carrying charges during construction up to and including\nthe occupancy date, working capital not exceeding three per centum of\nthe estimated total cost or three percentum of the actual total final\ncost, whichever is larger, the cost of all necessary studies, surveys,\nplans and specifications, architectural, engineering, legal, or other\nspecial services, the cost of acquisition of land and any improvements\nthereon, site preparation and development, construction, reconstruction,\nrehabilitation, improvement and equipment, including fixtures,\nequipment, and articles of personal property required for the operation\nof care, treatment, training, educational, and residential facilities,\nthe reasonable cost of financing incurred by the company in the course\nof the development of the project, up to and including the occupancy\ndate, the fees imposed by the commissioner and by the New York state\nhousing finance agency; other fees charged, and necessary expenses\nincurred in connection with the initial occupancy of the project, and\nthe cost of such other items as the commissioner may determine to be\nreasonable and necessary for the development of a project, less any and\nall rents and other net revenues from the operation of the real\nproperty, improvements or personal property on the project site, or any\npart thereof, by the company on and after the date on which the contract\nbetween the company and the New York state housing finance agency was\nentered into and prior to the occupancy date.\n  5. "Occupancy date". The date defined in the document providing for a\nmortgage loan between a company and the New York state housing finance\nagency.\n  6. "Lending Institution" means the original lender under the loan\nagreement or participants therein and its successors and assigns, and\nmay include a banking institution, insurance company, foundation, labor\nunion, employers association, trustees, fiduciaries or any combination\nof the foregoing.\n