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MATTER OF VERSAILLES REALTY CO. v. NEW YORK STATE DIV. OF HOUS. & CMTY. RENEWAL

154 A.D.2d 540 (1989)

In the Matter of Versailles Realty Company et al., Appellants-Respondents, v. New York State Division of Housing and Community Renewal, Respondent-Appellant

Appellate Division of the Supreme Court of the State of New York, Second Department.

October 16, 1989

Ordered that the judgment is affirmed, without costs or disbursements.

Contrary to the petitioners' contentions, we conclude that the New York State Division of Housing and Community Renewal (hereinafter the DHCR) had authority to promulgate 9 NYCRR 2522.4 (a) (9) which prohibits an owner from receiving a rent increase based on a major capital improvement funded from a cooperative corporation's reserve fund. The Legislature...

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