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SARBRO v. CITY OF BINGHAMTON

236 A.D.2d 687 (1997)

653 N.Y.S.2d 447

Sarbro: VII, Doing Business as Parcel 5a Associates, Respondent, v. City of Binghamton, Appellant

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

February 6, 1997

Peters, J.

Plaintiff and defendant entered into a 10-year lease agreement on April 30, 1985 regarding a hotel and conference center (hereinafter the hotel) which was to be constructed on the defendant's land.1 The financing for the hotel was predominantly derived from Federal funds which included a $7.3 million loan from the Department of Housing and Urban Development (hereinafter HUD) (commonly known as a section 108 loan...

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