Fennelly v. Kimball Court Apartments Ltd. Partnership, 14 Mass. L. Rptr. 37 (2001)

Citation: Fennelly v. Kimball Court Apartments Ltd. Partnership, 14 Mass. L. Rptr. 37 (2001)
Parent Document: Fennelly v. Kimball Court Apartments Ltd. Partnership, 14 Mass. L. Rptr. 37 (2001)
Jurisdiction: Massachusetts (state)
Effective Date: 2001-09-25
Original Source: https://www.courtlistener.com/opinion/8354506/fennelly-v-kimball-court-apartm... ↗

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Kimball leased a parcel of land to Kimball Court Apartments HI Limited Partnership up on which it built the buildings at 5 Kimball Court and 6 Kimball Court. (Agreed Facts ¶2.) Kimball Court Apartments III is subject to a mortgage from, and rent and occupancy restrictions imposed by, the Massachusetts Housing Finance Agency (“MHFA”). (Agreed Facts ¶9.) Kimball Court Apartments III Limited Partnership receives federal low income housing tax credits as part of its financing with MHFA. (Agreed Facts 111 1.) The rents and occupancy of approximately 42 of the 167 apartments at 5 and 6 Kimball Court are restricted by provisions of Section 42 of the Internal Revenue Code, 26 U.S.C. §42. (Agreed Facts ¶12.) In addition, Kimball Court Apartments III Limited Partnership received a loan from the Massachusetts Executive Office of Communities and Development under the State Housing Assistance for Rental Production (“SHARP") program which also imposes rent and occupancy restrictions on Kimball Court Apartments. (Agreed Facts ¶10.)

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