Section 1972. Definitions

As used in this title, the following words and
  phrases shall have the  following  meanings  unless  the  context  shall
  indicate another or different meaning or intent:
    (1)  "Authority". The corporate governmental agency created by section
  nineteen hundred seventy-three of this title.
    (2) "Bonds" and "Notes". The bonds, notes and  obligations  issued  by
  the authority pursuant to this title.
    (3) "City". The city of New York.
    (4) "Comptroller". The comptroller of the State of New York.
    (5)  "Battery  Park project area". All that portion of the City of New
  York, County of New York, State of New York  generally  bounded  by  the
  easterly  line  of  West  Street, the northerly line of lot number 10 in
  block 130 as shown on the tax maps of the City of New York,  borough  of
  Manhattan,  and  its  extensions easterly to West Street and westerly to
  the United States pierhead line as  now  constituted,  the  said  United
  States  pierhead  line, the lands of Battery Park and the southerly line
  of Battery Place.
    (6) "Project". One or more  works  or  improvements  including  lands,
  buildings,  improvements,  real,  personal  or  mixed  property  or  any
  interest   therein,   acquired,   owned,   constructed,   reconstructed,
  rehabilitated  or  improved  by the authority, or caused to be acquired,
  owned, constructed, reconstructed,  rehabilitated  or  improved  by  the
  authority  within  the  project  area  as  defined  herein,  all  as the
  authority shall deem  necessary,  together  with  lands,  buildings  and
  improvements  outside  the  project area required for relocation of city
  facilities and for vehicular and pedestrian access roads, rights of way,
  utility and other easements to and from the  project  area  all  as  the
  authority  shall  deem necessary and as shall be determined by agreement
  with the city.
    (7) "Project cost". The  sum  total  of  all  costs  incurred  by  the
  authority in carrying out all works and undertakings which the authority
  deems reasonable and necessary for the development of the project. These
  shall  include  but  are  not  necessarily  limited  to the costs of all
  necessary studies, surveys,  plans  and  specifications,  architectural,
  engineering  or  other  special  services,  acquisition  of land and any
  buildings  thereon,  site  preparation  and  development,  construction,
  reconstruction,  rehabilitation and improvement of the project area; the
  necessary expenses incurred in connection with the initial occupancy  of
  the project; the administrative and operating expenses of the authority;
  the cost of financing the project, including interest on bonds and notes
  issued  by the authority to finance the project from the date thereof to
  the date when the authority shall determine that the project  be  deemed
  substantially complete; the cost of other necessary items, including any
  indemnity  and  surety bonds and premiums on insurance, legal fees, fees
  and expenses of trustees, depositories and paying agents for  the  bonds
  and  notes  issued  by  the  authority;  relocation  costs,  all  as the
  authority  shall  deem  necessary  and  the  costs  of  acquisition  and
  construction  of  lands,  buildings and improvements outside the project
  area for relocation of city facilities whether such costs  are  incurred
  by  the  authority or by the city for and on behalf of the authority and
  for vehicular and pedestrian access roads, rights of  way,  utility  and
  other easements to and from the project area, all as the authority shall
  deem necessary and as shall be determined by agreement with the city.
    (8)  "Real  property". Lands, structures, improvements, franchises and
  interests in land, including lands  under  water,  waterfront  property,
  marginal  streets  and  riparian rights, space rights and air rights and
  any and all other things and rights usually included  within  said  term
  and  any fixtures, equipment and article of personal property affixed to

  or used in connection therewith.  Real  property  shall  also  mean  and
  include  any  and  all  interests in such property less than full title,
  such as easements, incorporeal hereditaments and every estate,  interest
  or  right,  legal  or  equitable,  including  terms  for years and liens
  thereon by way of judgments, mortgages or otherwise, and also all claims
  for damages for such real estate.
    (9) "State". The state of New York.
    (10) "State  agency".  Any  officer,  board,  department,  commission,
  bureau,  division,  public corporation, agency or instrumentality of the
  state.
    (11) "Subsidiary". A corporation created pursuant to section  nineteen
  hundred seventy-four-a of this title.
    (12)   "Residential   housing   facilities".  One  or  more  works  or
  improvements  containing  one  or  more  residential   dwelling   units,
  including,  but  not  limited  to,  single  room  occupancy  units,  and
  including the real and personal property acquired,  owned,  constructed,
  equipped, improved, enlarged, rehabilitated or renovated to provide such
  accommodations  and  such incidental and appurtenant commercial, social,
  recreational or communal facilities, to be located without  the  Battery
  Park project area and within the city.
    (13)  "Excess  revenues".  All  revenues from the Battery Park project
  area in excess of those needed (i) to satisfy bond  and  note  covenants
  (other than as they relate to bonds and notes issued pursuant to section
  nineteen  hundred  seventy-four-c  of this title and section six hundred
  fifty-four-c  of  the  private  housing  finance  law)  including  those
  covenants  which  require  that  the authority maintain its revenues and
  reserve funds in an amount necessary to permit it to discharge its  debt
  service   obligations,   (ii)   to   fulfill  its  legal  and  financial
  commitments, and (iii) to pay its operating and maintenance expenses.
    (14)  "Housing  New  York  program".  The  housing  New  York  program
  established by section four of the housing New York program act.
    (15) "Housing New York corporation". The subsidiary corporation of the
  New  York  city  housing  development corporation created by section six
  hundred fifty-four-c of the private housing finance law.