2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 16 - (901 - 910) 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; 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.