Statute · New York Private Housing Finance Law
N.Y. Priv. Hous. Fin. Law § 1261 — Definitions
N.Y. Priv. Hous. Fin. Law § 1261
- Type
- Statute
- Source
- New York Private Housing Finance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 1261. Definitions. As used in this article:
Citator
N.Y. Priv. Hous. Fin. Law § 1261 — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1261. Definitions. As used in this article:
1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter.
2. "Eligible applicant" shall mean a unit of local government or not-for-profit corporation in existence for a period of one or more years prior to application, which is, or will be at the time of award, incorporated under the not-for-profit corporation law and has been engaged primarily in housing and community development activities.
3. "Residential emergency services to offer home repairs to the elderly programs" shall mean a series of activities by an eligible applicant to administer funds to provide either loans or grants to homeowners sixty years of age or older, with a household income of less than one hundred percent of the area median income, to oversee the adaptation or retrofitting of eligible properties.
4. "Eligible property" shall mean a housing unit that is the primary residence of a person that is sixty years of age or older and have a household income that does not exceed one hundred percent of the area median income.