2023 New York Laws › PVH - Private Housing Finance › Article 7-A - Community Senior Citizens Centers and Services Companies › 352 - Definitions.

§  352.  Definitions.  As used in this article the following words and
  phrases shall have the following meanings unless a different meaning  is
  plainly required by the context:
1.  "Company",  or  "community  senior  citizens  centers and services
  company". A company, duly incorporated pursuant to the provisions of the
  not-for-profit corporation law and this  article,  for  the  purpose  of
  providing  centers  for  the  aging,  and  such  facilities  as  may  be
  incidental or appurtenant thereto.
2. "Project"  or  "community  senior  citizens  services  project".  A
  specific  work or improvement, including lands, buildings, improvements,
  fixtures and  articles  of  personal  property,  constructed,  acquired,
  reconstructed,  rehabilitated,  managed,  owned or operated by a company
  pursuant to this article, to provide centers for  the  aging,  including
  such facilities as may be incidental or appurtenant thereto.
3.  "Project  cost"  or  "community  senior  citizens services project
  cost". The sum total of all costs incurred by a company approved by  the
  commissioner  as reasonable and necessary for carrying out all works and
  undertakings and providing all necessary equipment for  the  development
  of  a  project,  less  any  private or federal, state or local financial
  assistance available for and received by the company for the payment  of
  such  project  cost. These shall include but are not necessarily limited
  to the carrying charges during construction  up  to  and  including  the
  occupancy  date,  working  capital not exceeding three per centum of the
  estimated total cost or three per centum of the actual total final cost,
  whichever is larger, the cost of all necessary studies,  surveys,  plans
  and  specifications,  architectural, engineering, legal or other special
  services, the cost of acquisition of land and any improvements  thereon,
  site   preparation   and   development,   construction,  reconstruction,
  rehabilitation,   improvement   and   equipment,   including   fixtures,
  equipment,  and articles of personal property required for the operation
  of such facilities, the reasonable cost of  financing  incurred  by  the
  company  in  the  course  of  the  development of the project, up to and
  including the occupancy date, the fees imposed by the  commissioner  and
  by  the  New  York state housing finance agency; other fees charged, and
  necessary expenses incurred in connection with the initial occupancy  of
  the  project,  and  the cost of such other items as the commissioner may
  determine to be reasonable  and  necessary  for  the  development  of  a
  project,  less  any  and  all  rents  and  other  net  revenues from the
  operation of the real property, improvements or personal property on the
  project site, or any part thereof, by the company on and after the  date
  on which the contract between the company and the New York state housing
  finance agency was entered into and prior to the occupancy date.
4.  "Occupancy date". The date defined in the document providing for a
  mortgage loan between a company and the New York state  housing  finance
  agency.
5. "Commissioner". The commissioner of social services of the state of
  New York.
6. "Department". The department of social services of the state of New
  York.