St. Christopher Associates, L.P. v. United States
United States Court of Federal Claims
1Opinion of the Court
MEMORANDUM OPINION AND FINAL ORDER
BRADEN, Judge.
I. RELEVANT FACTS1
St. Christopher Apartments, Inc. is a 100-unit multifamily apartment project for elderly persons, located in Hartford, Connecticut (“Property”). On June 3, 1971, the original owner of the Property received a mortgage from the Connecticut Bank (“Bank”) in the amount of $2,391,000 to finance the purchase and construction at the Property site. The mortgage was issued under Section 236 of the National Housing Act, 12 U.S.C. § 1715z-l, as amended, that affords 40-year loans at market rates, with a subsidy allowing owners effectively…
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