Oct. 9 to 15, 2008
STATE COURT CASES
ADMINISTRATIVE LAW — HOUSING MORTGAGE AND FINANCE AGENCY
01-2-1946 In the Matter of Grogan Marineview Plaza , App. Div. (per curiam) (25 pp.) The decision of the HMFA, substantially reducing petitioner’s request for a 33 percent rent increase for 2005 and allocating less to the housing project’s reserve accounts for repairs and renovations than petitioner sought, is affirmed. The court defers to the agency’s interpretation of its various mortgage modification agreements with petitioner, finds no evidence that the agency has dealt unfairly with petitioner, finds that petitioner’s choice to bargain away any return on equity until all amounts due on the HMFA’s mortgage and another judgment are satisfied did not amount to an unconstitutional taking, and finds that the agency’s decision is neither arbitrary nor capricious. [Decided Oct. 10, 2008.]
