Legal Opinion
In re the City of New York
New York Court of Appeals
Decided July 2, 1969PublishedCited by 55 opinions
1Opinion of the CourtJasen, J.
As a means of fostering low-cost housing in the State’s urban centers, the Legislature in 1961 enacted the Limited-Profit Housing Companies Law (Private Housing Finance Law, art. 2), also known as the Mitchell-Lama Law. This statute provides for the formation of private limited-profit housing companies which may borrow, on mortgages from the State or municipality, up to 95% of the development costs of a housing project for a term of up to 50 years (id., § 23, subd. 1) at an interest rate approximating that paid by the State on its own obligations. The municipality may aid the project through…
2Cases cited1 opinion
- Village of Lawrence v. GreenwoodNew York Court of Appeals · 1949
3Cited by55 opinions
- Honore de St. Aubin v. FlackeNew York Court of Appeals · 1986
- In re County of SuffolkNew York Court of Appeals · 1975
- Chester Industrial Park Associates, LLP v. StateAppellate Division of the Supreme Court of the State of New York · 2009
- Zappavigna v. StateAppellate Division of the Supreme Court of the State of New York · 1992
- In re the City of New YorkNew York Court of Appeals · 1983
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