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This entry was published on 2014-09-22
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SECTION 451
Definitions
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 8-A
§ 451. Definitions. As used in this article the following terms shall
mean:

1. "Existing multiple dwelling." Any dwelling classified as a multiple
dwelling pursuant to the multiple dwelling law and in existence on the
date upon which an application for a loan pursuant to this article is
received by the municipality. For purposes of this article an existing
multiple dwelling shall be deemed to include any garden-type maisonette
dwelling project consisting of a series of dwelling units which together
and in their aggregate were arranged or designed to provide three or
more apartments and are provided as a group collectively with all
essential services such as, but not limited to, water supply, house
sewers and heat, and which are in existence and operated as a unit under
single ownership on the date upon which an application for a loan
pursuant to this article is received by the municipality,
notwithstanding that certificates of occupancy were issued for portions
thereof as private dwellings.

2. "Occupancy by persons of low income." Occupancy by persons paying
rentals or carrying charges not in excess of the average rentals or
carrying charges prevailing in local projects of municipally-aided
limited-profit housing companies aided under article two of this
chapter, the occupancy of which commenced on or after May eighteenth,
nineteen hundred seventy.

3. "Owner." An individual, partnership, corporation or other entity,
including a non-profit company, a mutual company, or a housing
development fund company, which holds record title in fee simple to the
multiple dwelling and the real property upon which it is situate or the
lessee thereof under a lease the unexpired term of which shall be not
less than the term of the loan to be made under this article.

4. "Federal grant funds." Any grants received from the United States
of America for community development activities or for the
rehabilitation or conservation of multiple dwellings.