Parkridge Investors Ltd. Partnership v. Farmers Home Administration

RICHARD S. ARNOLD, Chief Judge.

This case is about the power of the United States to modify its contractual obligations, by statute, to prevent the frustration of clear program purposes. We sympathize with the view of appellant, Parkridge Investors, that the United States has acted unfairly in this instance; even so, we conclude that firmly entrenched legal doctrine allows the government to act as it did. Therefore, we decline to hold unconstitutional the Emergency Low Income Housing Preservation Act, 42 U.S.C. § 1472(c), as applied to appellant’s loan, and thus affirm the District Court’s1…