NY Priv Hous Fin L § 1281 (2021)
2021 New York Laws PVH - Private Housing Finance Article 31 - Housing Our Neighbors With Dignity Program 1281 - Definitions.

§  1281.  Definitions. For the purposes of this article, the following terms shall have the following meanings:   1.  "Corporation"  shall  mean  the  housing  trust  fund  corporation established pursuant to section forty-five-a of this chapter.   2.  "Appropriate  nonprofit  organization" shall mean a not-for-profit organization that:  (a) Has as one of such organization's primary purposes:  (i)  The  provision  of  housing  that  is  affordable  to  low-income families; or  (ii)  The provision of services or housing for individuals or families experiencing homelessness; or  (b) Is otherwise  considered  by  the  state  as  a  suitable  housing management   organization,   by  a  vetting  process  developed  by  the corporation.   3.  "Affordable  housing"  shall  mean  permanent  housing   that   is affordable  to  low  and  moderate-income  households, such that the new housing achieves income averaging at or below fifty percent of the  area median income, with residents' eligibility capped at a maximum of eighty percent  of  the  area  median  income  at  the  start  of  their lease. Applicants shall not  be  rejected  from  eligibility  based  on  credit histories or credit scores.   4.  "Building service employee" shall mean any person who is regularly employed  at,  and  performs  work  in  connection  with  the  care   or maintenance  of, a converted property in a city with a population of one million or more, including  but  not  limited  to,  a  watchman,  guard, doorman,   building   cleaner,   porter,  handyman,  janitor,  gardener, groundskeeper, elevator operator and starter, or window cleaner.   5. "Distressed" shall mean an  available  asset  that  is  financially distressed as determined by the corporation.   6. "Exempt supportive housing" shall mean converted property for which a nonprofit organization has:  (a)  entered  into  a  regulatory  agreement with a federal, state, or local government entity in a city with a population of  one  million  or more that requires:  (i)  at least fifty percent of the residential units in such converted property be reserved for  homeless,  disabled  individuals  or  homeless families with a disabled head-of-household; and  (ii)  the provision of on-site supportive services to the residents of at least fifty percent of the residential units; and  (b) the remaining fifty percent  of  the  residential  units  in  such converted  property  rented  to  households  earning,  on average, up to eighty percent of the area median income, adjusted for household size.   7.  "Experiencing  homelessness"  shall  refer  to  those  individuals residing  in  shelters,  transitional  housing, public spaces, and other types of emergency housing.   8. "Fiscal officer" shall mean the comptroller of the city of New York or other analogous officer of such city.   9. "Prevailing wage" shall mean the rate  of  wages  and  supplemental benefits paid in the locality to workers in the same trade or occupation and  annually  determined  by  the fiscal officer in accordance with the provisions of section two hundred thirty-four of the labor law.   10. "Rent stabilized" shall mean collectively, the rent  stabilization law of nineteen hundred sixty-nine, the rent stabilization code, and the emergency  tenant  protection  act  of  nineteen seventy-four, all as in effect as of the effective date of  the  chapter  of  the  laws  of  two thousand   twenty-one   that   added  this  subdivision  or  as  amended thereafter,  together  with  any  successor  statutes   or   regulations addressing substantially the same subject matter.    11. "Small converted property" shall mean a converted property project (a)  to  improve  no more than one hundred nineteen residential units in one or more buildings; and (b) which has received  financial  assistance pursuant to this article.