N.Y.
Private Housing Finance Law Section 1121
Definitions
1.
“Agency” shall mean the New York state housing finance agency created by § 43 (New York state housing finance agency)section forty-three of this chapter.2.
“Cooperative project” or “project” shall mean any manufactured home park property which, subsequent to receiving assistance under this article, will be owned as a cooperative by the owners of the manufactured homes situated therein.3.
“Eligible applicant” shall mean a manufactured home residents’ association representing a majority of the manufactured home residents, a manufactured home park cooperative, a municipality, a housing development fund company incorporated pursuant to article 11 (Housing Development Fund Companies)article eleven of this chapter, or any not-for-profit corporation or charitable organization which has as one of its primary purposes the improvement of housing.4.
“Infrastructure improvement” shall mean the construction, reconstruction, improvement, reconditioning, and preservation, including the acquisition of real property and interests therein required or expected to be required in connection therewith, of roads, bridges, sewage and water collection and disposal systems, lighting districts, sidewalks, and other capital projects which will benefit the cooperative as a whole.5.
“Manufactured home park” shall mean a manufactured home park as defined in Real Property Law § 233 (Manufactured home parks)section two hundred thirty-three of the real property law.6.
“Manufactured home park cooperative” shall mean a corporation or other entity formed for the purpose of owning a manufactured home park wherein the ownership of such shares, membership interest or certificate of membership will entitle the owners or holders thereof to occupancy in such park pursuant to General Business Law § 352-E (Real estate syndication offerings)section three hundred fifty-two-e of the general business law.
Source:
Section 1121 — Definitions, https://www.nysenate.gov/legislation/laws/PVH/1121 (updated Sep. 22, 2014; accessed Apr. 13, 2024).
