Section 211. Definitions

As used in this article the following terms shall
  mean:
    1.  The  term  "existing  multiple  dwelling"  shall mean any multiple
  dwelling erected before April eighteenth, nineteen  hundred  twenty-nine
  and in existence on the date upon which this article takes effect.
    2.  The  term  "agency"  shall  mean  any  officer, board, commission,
  department, or other agency of the municipality, or the authority or any
  other public authority, designated by  the  local  legislative  body  to
  carry  out  the  functions  vested  in  the agency under this article or
  delegated to the agency by the local legislative body in order to  carry
  out the purposes and provisions of this article.
    3. a. The term "persons or families of low income" shall mean "persons
  of  low  income" or "families of low income" as defined in section three
  of this chapter, whose  probable  aggregate  annual  income  during  the
  period  of occupancy does not exceed six times the rental (including the
  value or cost to them  of  heat,  light,  water  and  cooking  fuel)  of
  dwelling units occupied by such persons or families in existing multiple
  dwellings  aided  by a loan pursuant to this article, except that in the
  case of persons or families with three or more  dependents,  such  ratio
  shall  not  exceed  seven  to  one,  and  except further that the income
  limitations prescribed  by  this  paragraph  shall  be  subject  to  the
  provisions  of  subdivision  two of section two hundred thirteen of this
  chapter.
    In calculating annual income,  social  security  payments  and  income
  received from private pension funds by any person sixty-two years of age
  or  more  shall be excluded up to a total maximum amount of seventy-five
  dollars per month.  The term "probable aggregate  annual  income"  means
  the annual income of the chief wage earner of the family, plus all other
  income  of other members of the family over the age of twenty-one years,
  plus a proportion of income of gainfully employed members under the  age
  of  twenty-one years, the proportion to be determined by the agency. The
  agency may exclude a proportion of the income of other  members  of  the
  family  over  the age of twenty-one years for the purpose of determining
  eligibility for commencement of occupancy or continued occupancy, or for
  establishing rental of such family, or for all such purposes.
    b. Notwithstanding the provisions of paragraph a of this  subdivision,
  and  subject  to  the  provisions  of  subdivision  three of section two
  hundred thirteen of this chapter, the term "persons or families  of  low
  income"  shall  also mean any person or family who, immediately prior to
  the date on which a contract for a loan  with  respect  to  an  existing
  multiple  dwelling  is  entered  into pursuant to the provisions of this
  article, occupies any dwelling unit in such multiple  dwelling  and  who
  continuously  occupies  such unit during and after completion of central
  heating or other rehabilitation or  improvement  performed  pursuant  to
  such contract.
    4.  The  term  "occupancy  date"  shall  mean  the date defined in the
  contract for a loan pursuant to this article between  the  owner  of  an
  existing  multiple  dwelling  and  a municipality as the date upon which
  such multiple dwelling is to be deemed ready for occupancy, or  if  such
  term  is  not  defined  in  such  contract,  the date of issuance of the
  temporary certificate of occupancy.