Section 75.05. Definitions

As used in this article the following words and phrases shall have the
  following meanings unless a different meaning is plainly required by the
  context:
    1. "Company", "community mental health services company" or "community
  mental  retardation  services  company".  A  company,  duly incorporated
  pursuant to the provisions of the  not-for-profit  corporation  law  and
  this  article,  for  the  purpose  of providing for the care, treatment,
  training, education, and residence of the mentally  disabled,  and  such
  facilities as may be incidental or appurtenant thereto.
    2. "Project", "community mental health services project" or "community
  mental  retardation  services  project". A specific work or improvement,
  including lands, buildings,  improvements,  fixtures,  and  articles  of
  personal  property, constructed, acquired, reconstructed, rehabilitated,
  managed, owned, or operated by a company pursuant to  this  article,  to
  provide  community  residential  facilities for operation as hostels for
  the mentally disabled or for the care, treatment, training, education of
  the mentally disabled, or both, including  such  facilities  as  may  be
  incidental or appurtenant thereto.
    3. "Local  governmental  unit."  A local governmental unit established
  pursuant to the provisions of article eleven of this chapter.
    4. "Project cost", "community mental health services project cost"  or
  "community  mental  retardation services project cost". The sum total of
  all costs incurred by a company  as  approved  by  the  commissioner  as
  reasonable and necessary for carrying out all works and undertakings and
  providing  all necessary equipment for the development of a project less
  any portion of any state, federal or municipal assistance grant, as  the
  commissioner  shall,  prior  to the making of a mortgage loan by the New
  York state  housing  finance  agency  to  a  company,  determine  to  be
  available to reimburse the company for the payment of such project costs
  prior to the initial occupancy of the project, and all costs relating to
  the refinancing of existing indebtedness associated with the development
  of  the  project  which constitutes a lien or other encumbrance upon the
  real property or assets of  a  company  to  be  mortgaged  or  otherwise
  pledged  to  the  agency.  These  shall  include but are not necessarily
  limited to the carrying charges during construction up to and  including
  the  occupancy  date,  working capital not exceeding three per centum of
  the estimated total cost or three percentum of the  actual  total  final
  cost,  whichever  is larger, the cost of all necessary studies, surveys,
  plans and specifications, architectural, engineering,  legal,  or  other
  special  services,  the cost of acquisition of land and any improvements
  thereon, site preparation and development, construction, reconstruction,
  rehabilitation,   improvement   and   equipment,   including   fixtures,
  equipment,  and articles of personal property required for the operation
  of care, treatment, training, educational, and  residential  facilities,
  the  reasonable  cost of financing incurred by the company in the course
  of the development of the project, up to  and  including  the  occupancy
  date,  the  fees  imposed  by the commissioner and by the New York state
  housing finance agency;  other  fees  charged,  and  necessary  expenses
  incurred  in  connection  with the initial occupancy of the project, and
  the cost of such other items as the commissioner  may  determine  to  be
  reasonable  and necessary for the development of a project, less any and
  all rents and  other  net  revenues  from  the  operation  of  the  real
  property,  improvements or personal property on the project site, or any
  part thereof, by the company on and after the date on which the contract
  between the company and the New York state housing  finance  agency  was
  entered into and prior to the occupancy date.

    5. "Occupancy  date". The date defined in the document providing for a
  mortgage loan between a company and the New York state  housing  finance
  agency.
    6. "Lending  Institution"  means  the  original  lender under the loan
  agreement or participants therein and its successors  and  assigns,  and
  may  include a banking institution, insurance company, foundation, labor
  union, employers association, trustees, fiduciaries or  any  combination
  of the foregoing.