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Mitchell-Lama on hold

Posted by Jane on May 12, 2000 at 23:46:08:

Today's News Update

New York Law Journal
Monday, May 15, 2000

Reversing himself, Manhattan Supreme Court Justice Ira Gammerman
will allow injunctive relief to be sought by Manhattan tenants who are
hoping to avoid a rent increase when their landlord opts out of a
Mitchell-Lama agreement, a deal that helped developers build and then
rent certain apartments at below market cost. The relief could mean a
freezing of rents, allowing the modest income tenants to stay in the
building, the judge said, as opposed to his earlier decision that limited an
award to damages, which could have meant the tenants had to vacate
and then possibly be refunded rents at a later date.

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