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MATTER OF NORTH COUNTRY HOUSING v. BOARD OF ASSESSMENT REVIEW FOR VILLAGE OF POTSDAM

298 A.D.2d 667 (2002)

748 N.Y.S.2d 428

In the Matter of NORTH COUNTRY HOUSING, a Limited Partnership, et al., Respondents, v. BOARD OF ASSESSMENT REVIEW FOR VILLAGE OF POTSDAM et al., Appellants.

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

Decided October 17, 2002.

Mercure, J.

Petitioners are the owners of a 137-unit apartment complex (hereinafter the Project) located in the Town and Village of Potsdam, St. Lawrence County. The Project is subsidized by the United States Department of Housing and Urban Development (hereinafter HUD) pursuant to a 30-year Housing Assistance Payments Contract and a Regulatory Agreement executed in 1978 and 1979, respectively. Under the terms of those agreements, HUD established "contract rents"...

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