NY Pub Auth L § 1972 (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 12 1972 - Definitions.

§  1972.  Definitions.  As used in this title, the following words and phrases shall have the  following  meanings  unless  the  context  shall indicate another or different meaning or intent:  (1)  "Authority". The corporate governmental agency created by section nineteen hundred seventy-three of this title.  (2) "Bonds" and "Notes". The bonds, notes and  obligations  issued  by the authority pursuant to this title.  (3) "City". The city of New York.  (4) "Comptroller". The comptroller of the State of New York.  (5)  "Battery  Park project area". All that portion of the City of New York, County of New York, State of New York  generally  bounded  by  the easterly  line  of  West  Street, the northerly line of lot number 10 in block 130 as shown on the tax maps of the City of New York,  borough  of Manhattan,  and  its  extensions easterly to West Street and westerly to the United States pierhead line as  now  constituted,  the  said  United States  pierhead  line, the lands of Battery Park and the southerly line of Battery Place.  (6) "Project". One or more  works  or  improvements  including  lands, buildings,  improvements,  real,  personal  or  mixed  property  or  any interest   therein,   acquired,   owned,   constructed,   reconstructed, rehabilitated  or  improved  by the authority, or caused to be acquired, owned, constructed, reconstructed,  rehabilitated  or  improved  by  the authority  within  the  project  area  as  defined  herein,  all  as the authority shall deem  necessary,  together  with  lands,  buildings  and improvements  outside  the  project area required for relocation of city facilities and for vehicular and pedestrian access roads, rights of way, utility and other easements to and from the  project  area  all  as  the authority  shall  deem necessary and as shall be determined by agreement with the city.  (7) "Project cost". The  sum  total  of  all  costs  incurred  by  the authority in carrying out all works and undertakings which the authority deems reasonable and necessary for the development of the project. These shall  include  but  are  not  necessarily  limited  to the costs of all necessary studies, surveys,  plans  and  specifications,  architectural, engineering  or  other  special  services,  acquisition  of land and any buildings  thereon,  site  preparation  and  development,  construction, reconstruction,  rehabilitation and improvement of the project area; the necessary expenses incurred in connection with the initial occupancy  of the project; the administrative and operating expenses of the authority; the cost of financing the project, including interest on bonds and notes issued  by the authority to finance the project from the date thereof to the date when the authority shall determine that the project  be  deemed substantially complete; the cost of other necessary items, including any indemnity  and  surety bonds and premiums on insurance, legal fees, fees and expenses of trustees, depositories and paying agents for  the  bonds and  notes  issued  by  the  authority;  relocation  costs,  all  as the authority  shall  deem  necessary  and  the  costs  of  acquisition  and construction  of  lands,  buildings and improvements outside the project area for relocation of city facilities whether such costs  are  incurred by  the  authority or by the city for and on behalf of the authority and for vehicular and pedestrian access roads, rights of  way,  utility  and other easements to and from the project area, all as the authority shall deem necessary and as shall be determined by agreement with the city.  (8)  "Real  property". Lands, structures, improvements, franchises and interests in land, including lands  under  water,  waterfront  property, marginal  streets  and  riparian rights, space rights and air rights and any and all other things and rights usually included  within  said  term and  any fixtures, equipment and article of personal property affixed to  or used in connection therewith.  Real  property  shall  also  mean  and include  any  and  all  interests in such property less than full title, such as easements, incorporeal hereditaments and every estate,  interest or  right,  legal  or  equitable,  including  terms  for years and liens thereon by way of judgments, mortgages or otherwise, and also all claims for damages for such real estate.  (9) "State". The state of New York.  (10) "State  agency".  Any  officer,  board,  department,  commission, bureau,  division,  public corporation, agency or instrumentality of the state.  (11) "Subsidiary". A corporation created pursuant to section  nineteen hundred seventy-four-a of this title.  (12)   "Residential   housing   facilities".  One  or  more  works  or improvements  containing  one  or  more  residential   dwelling   units, including,  but  not  limited  to,  single  room  occupancy  units,  and including the real and personal property acquired,  owned,  constructed, equipped, improved, enlarged, rehabilitated or renovated to provide such accommodations  and  such incidental and appurtenant commercial, social, recreational or communal facilities, to be located without  the  Battery Park project area and within the city.  (13)  "Excess  revenues".  All  revenues from the Battery Park project area in excess of those needed (i) to satisfy bond  and  note  covenants (other than as they relate to bonds and notes issued pursuant to section nineteen  hundred  seventy-four-c  of this title and section six hundred fifty-four-c  of  the  private  housing  finance  law)  including  those covenants  which  require  that  the authority maintain its revenues and reserve funds in an amount necessary to permit it to discharge its  debt service   obligations,   (ii)   to   fulfill  its  legal  and  financial commitments, and (iii) to pay its operating and maintenance expenses.  (14)  "Housing  New  York  program".  The  housing  New  York  program established by section four of the housing New York program act.  (15) "Housing New York corporation". The subsidiary corporation of the New  York  city  housing  development corporation created by section six hundred fifty-four-c of the private housing finance law.