2023 New York Laws › PVH - Private Housing Finance › Article 8 - Loans to Owners of Existing Multiple Dwellings › 401 - Definitions.

§  401. Definitions. As used in this article the following terms shall
  mean:
1. a. The term "existing multiple dwelling" shall  mean  any  dwelling
  classified  as a multiple dwelling pursuant to the multiple dwelling law
  including class A and class B multiple dwellings, and  in  existence  on
  the  date  upon which an application for a loan pursuant to this article
  is received by the agency.
b. The term "existing multiple dwelling" shall also mean any  building
  in  existence  on the date upon which an application for a loan pursuant
  to this article is received by the agency and which is intended on  such
  date to be converted to a class A or class B multiple dwelling.
c.   The   term   "existing  multiple  dwelling"  shall  also  mean  a
  not-for-profit institution with sleeping accommodations exclusively  for
  permanent  residential purposes or any building in existence on the date
  upon which an application  for  a  loan  pursuant  to  this  article  is
  received  by  the  agency  which  is  intended  to  be  converted  to  a
  not-for-profit institution with sleeping accommodations exclusively  for
  permanent residential purposes.
2.  The  term  "agency"  shall  mean  any  officer, board, commission,
  department, or other agency of the municipality, or the authority or any
  other public authority, designated by  the  local  legislative  body  to
  carry  out  the  functions  vested  in  the agency under this article or
  delegated to the agency by the local legislative body in order to  carry
  out the purposes and provisions of this article.
3. a. The term "persons or families of low income" shall mean "persons
  of  low income" or "families of low income" as defined in section two of
  this chapter.
b. Notwithstanding the provisions of paragraph a of this  subdivision,
  the  term "persons or families of low income" shall also mean any person
  or family who, immediately prior to the date on which a contract  for  a
  loan  with  respect  to  an  existing  multiple dwelling is entered into
  pursuant to the provisions of this article, occupies any  dwelling  unit
  in such multiple dwelling and who continuously occupies such unit during
  and  after  completion  of  central  heating  or other rehabilitation or
  improvement performed pursuant to such contract provided, however,  that
  any  person  or  family  required  to remove from any such dwelling unit
  because of such installation, rehabilitation or improvement  shall,  for
  the  purpose  of  this  section, be deemed to have continuously occupied
  such unit  and  shall  have  preference  in  re-entering  such  multiple
  dwelling upon completion of the aforesaid work.
4.  The  term  "occupancy  date"  shall  mean  the date defined in the
  contract for a loan pursuant to this article between  the  owner  of  an
  existing  multiple  dwelling  and  a municipality as the date upon which
  such multiple dwelling is to be deemed ready for occupancy, or  if  such
  term  is  not  defined  in  such  contract,  the date of issuance of the
  temporary certificate of occupancy.
5. The term "rehabilitation", in addition to any other meaning,  shall
  include  conversion of a class B multiple dwelling or a class A multiple
  dwelling used in whole or in part for single room occupancy to a class A
  multiple dwelling  not  used  in  whole  or  in  part  for  single  room
  occupancy.  The  term "rehabilitation" shall also include the conversion
  of any existing building to a class A or class B multiple dwelling.
6. The term "owner" shall mean a person having  record  or  beneficial
  title in fee simple to real property or the lessee thereof under a lease
  having an unexpired term of at least thirty years.