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This entry was published on 2014-09-22
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SECTION 1021
Definitions
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 17-A
§ 1021. Definitions. As used in this article, any term defined in
article seventeen of this chapter shall have the same meaning herein as
set forth therein and the following terms shall have the following
meanings:

1. "Federal assistance" means assistance from the Farmer's Home
Administration pursuant to title five of the United States Housing Act
of 1949.

2. "Eligible sponsor" means either a corporation organized pursuant to
the not-for-profit corporation law, a public housing authority as
defined pursuant to subdivision two of section three of the public
housing law, or an eligible borrower as defined in Title V of the United
States Housing Act of 1949.

3. "Eligible project" means a housing project located in a rural area
which is to be owned or operated by an eligible sponsor and which has
received (or which the sponsor has demonstrated to the satisfaction of
the commissioner will receive) federal assistance.