2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 27 - (1230 - 1232) RURAL AND URBAN COMMUNITY INVESTMENT FUND PROGRAM
1231 - Definitions.

 
    §  1231.  Definitions.  1.  "Corporation" shall mean the housing trust
  fund corporation established in section forty-five-a of this chapter.
    2. "Rural and urban community  investment  fund  program"  shall  mean
  activities  by  an  eligible  applicant for a specific work or series of
  works for  the  creation,  preservation  or  improvement  of  affordable
  housing, or the creation, preservation or improvement of the commercial,
  retail  or  community  facilities  component  of  mixed  use  affordable
  residential developments, in rural and urban areas of the state.
     3. "Rural area of the state" shall mean cities,  towns  and  villages
  having  a  population of less than twenty-five thousand as determined by
  the last federal decennial census.
    4. "Urban area of the state" shall mean any unit of  local  government
  within  the state with a population of more than or equal to twenty-five
  thousand persons as determined by the last federal decennial census.
    5. "Eligible applicant" shall include a not-for-profit corporation  or
  charitable   organization,  or  a  wholly-owned  subsidiary  of  such  a
  corporation or organization, or a private for-profit developer such as a
  person, corporation, partnership or limited liability company.
    6. "Affordable  residential  development"  shall  include  residential
  units  that  are  rent  restricted  and occupied by persons and families
  whose income does not exceed ninety percent of area  median  income  for
  the  county  in  which  a project is located as calculated by the United
  States department of housing and urban development.