North Town Phase I Houses, Inc. (North Town) owns and operates a limited-profit housing rental project known as "Eastwood", on Roosevelt Island, organized pursuant to article II of the Private Housing Finance Law. On August 13, 1985, North Town applied to respondent Division of Housing and Community Renewal (DHCR) for a rent increase of $19.69 per room per month effective January 1, 1986. Upon notice to all tenants, the Division held a public conference on December 5, 1985...
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