As used in this article, unless the context
requires otherwise, the following words shall have the meanings indicated:
IMPROVEMENTS
Any and all buildings and improvements now or hereafter situated
on the property.
OWNER
L&M Spring Valley, LLC, its successors and/or assigns.
PROJECT
Ninety-six units of residential rental housing for senior
citizens of low and moderate income intended to be constructed by
the owner on the property, which shall constitute a housing development
as defined in § 42 of the Private Housing Finance Law.
PROPERTY
The real property intended to be acquired by the owner situated
at the corner of Route 59 and Summit Avenue in the Village, commonly
known as 15 Summit Avenue, and having tax map number 5, lots SV5 and
SV6.
This article shall take effect upon filing with
the Secretary of State.