2023 New York Laws › PVH - Private Housing Finance › Article 16 - Neighborhood Preservation Companies › 902 - Definitions.

§  902.  Definitions. As used in this article, the following words and
  phrases shall have the following meanings:
1. "Commissioner" shall mean the commissioner of the state division of
  housing and community renewal.
2. "Division" shall mean the state division of housing  and  community
  renewal.
3.  "Municipality"  shall  mean  any  city, town or village within the
  state.
4.  "Neighborhood  preservation  company"  shall  mean  a  corporation
  organized  under  the  provisions  of the not-for-profit corporation law
  which has been engaged primarily in one  or  more  of  the  neighborhood
  preservation activities specified in subdivision five of this section.
5.   "Neighborhood  preservation  activities"  shall  mean  activities
  engaged  in  by   a   neighborhood   preservation   company   within   a
  geographically   defined   neighborhood  of  a  municipality,  provided,
  however, that the division may fund a neighborhood preservation  company
  to  engage  in  such activities in unserved and underserved areas of the
  municipality lying outside  of  its  initially  designated  neighborhood
  area,  that  are  designed (a) to construct, maintain, preserve, repair,
  renovate, upgrade, improve, modernize, rehabilitate or otherwise prolong
  the useful life and to  manage  and  coordinate  the  rehabilitation  of
  residential dwelling accommodations within such neighborhood, to restore
  abandoned  and  vacant  as  well  as  occupied housing accommodations to
  habitable condition; to  demolish  structurally  unsound  or  unsafe  or
  otherwise unsightly or unhealthy structures which no longer serve or can
  economically   be  made  to  serve  a  useful  purpose  consistent  with
  stabilizing or improving a neighborhood; to seal and maintain vacant but
  structurally sound structures which are capable of  being  rehabilitated
  at  a  future  time  and  used  for  housing purposes; to acquire, where
  appropriate,  buildings  which  contain   housing   accommodations;   to
  facilitate    the    disposition   of   buildings   containing   housing
  accommodations to individual occupants thereof or to cooperative  groups
  whose  members  shall  be occupants thereof; to assist owners, occupants
  and tenants of housing accommodations  to  obtain  improvements  in  the
  physical  conditions  thereof  and  in  the  maintenance  and management
  thereof; to administer landlord training classes; and to manage  housing
  accommodations  as  agents  for  the owners thereof or administrators or
  receivers appointed or designated pursuant to any law of the state;  and
  (b)  to  accomplish similar purposes and meet similar needs with respect
  to retail and service  establishments  within  such  neighborhoods  when
  carried  out  in  connection with and incidental to a program of housing
  related activities.
6. "Persons of low income" shall mean individuals and  families  whose
  annual incomes do not exceed ninety per cent of the median annual income
  for all residents of the municipality within which they reside.
7.  "Merged  company"  shall  mean a neighborhood preservation company
  maintaining a contract pursuant to section nine hundred  three  of  this
  article  that has undergone a merger with one or more other neighborhood
  preservation companies, which is also maintaining a contract pursuant to
  section nine hundred three of this article,  that  has  led  the  merged
  companies  to  reduce  the number of contracts being maintained with the
  division pursuant to section nine hundred three of  this  article  to  a
  total of one.
8.  "Unmerged  company" shall mean a neighborhood preservation company
  that is not a merged company.