The developer of a park on New York City’s Roosevelt Island cannot go back on an agreement to inscribe the name of a foundation that funded the park on a prominent structure on aesthetic grounds, a unanimous state appellate panel has ruled.
Justice Rolando Acosta (See Profile) of the Appellate Division, First Department, wrote yesterday in Reed Foundation v. Franklin D. Roosevelt Four Freedoms Park, 653482/12, that the park developer is not entitled to any equitable relief allowing it to get out of the plain terms of the contract.
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