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CITY OF NEW YORK v. CLAROSE CINEMA CORP.

256 A.D.2d 69 (1998)

681 N.Y.S.2d 251

CITY OF NEW YORK, Appellant, v. CLAROSE CINEMA CORP., Respondent.

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

Decided December 8, 1998.

In August 1985 the City, having received an $800,000 grant from the United States Department of Housing and Urban Development, agreed to loan, subject to submission of a third-party guaranty, up to $800,000 to Movieland Associates in connection with the renovation of Loew's Victoria Theater in upper Manhattan. Movieland leased the theater from the Harlem Urban Development Corporation, a wholly owned subsidiary of the New York State...

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