FEDERAL HOME LOAN MORTGAGE CORPORATION, Plaintiff-Appellant,
v.
NEW YORK STATE DIVISION OF HOUSING AND COMMUNITY RENEWAL, Defendant-Appellee.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued March 1, 1995.
Decided May 2, 1996.
Attorney(s) appearing for the Case
Richard S. Fischbein, Fischbein Badillo Wagner Itzler, New York City (Kenneth G. Schwarz, Pamela A. Phillips, of counsel; Mitchell A. Rothken, Assistant General Counsel, Federal Home Loan Mortgage Corporation, of counsel), for Plaintiff-Appellant.
Gary R. Connor, Assistant Attorney General, State of New York, New York City (G. Oliver Koppell, Attorney General; Karen S. Smith, Assistant Attorney General, of counsel), for Defendant-Appellee.
Jean E. Burke, Thacher Proffit & Wood, New York City (Joseph Philip Forte, Michael B. Wolk, of counsel; William E. Cumberland, General Counsel, Mortgage Bankers Association of America, Washington, DC, of counsel), for Amicus Curiae Mortgage Bankers Association of America.
Stuart M. Saft, Wolf Haldenstein Adler Freeman & Herz, New York City, for Amicus Curiae Council of New York Cooperatives.
Pamela Seider Dolgow, Assistant Corporation Counsel, City of New York, New York City (Paul A. Crotty, Corporation Counsel; John Hogrogian, Assistant Corporation Counsel, of counsel), for Amicus Curiae The City of New York.
Sandra Russo, Legal Services for New York City, New York City (David Robinson, of counsel; William A. Schoneman, White & Case, New York City, of counsel), for Amici Curiae Legal Services for New York City et al.
Before: LUMBARD and WINTER, Circuit Judges, and BATTS, District Judge.
United States Court of Appeals, Second Circuit.
WINTER, Circuit Judge:
The Federal Home Loan Mortgage Corporation ("FHLMC") brought this declaratory judgment action seeking a determination that an exemption from New York City's Rent Stabilization Law for housing that is cooperatively owned, see N.Y. City Admin. Code § 26-504, continues to apply even upon foreclosure, or alternatively, that application of the Rent Stabilization Law to previously exempt housing violates the Takings Clause of the United...
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