Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)

Citation: Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)
Parent Document: Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)
Jurisdiction: United States (federal)
Effective Date: 1974-09-25
Original Source: https://www.courtlistener.com/opinion/321083/commonwealth-of-pennsylvania-v-j... ↗

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note 25, and HUD’s cost control procedures have been unable to deter this practice. According to the congressional staff report just cited, which placed the percentage of units erected by profit-making sponsors at 68%, the only motivation for many sponsors was the tax shelter benefit available during the early years of the project’s life. “Once the tax shelter benefits have been realized by the 236 sponsor, the project becomes a counterproductive investment to the sponsor. At this point in time the sponsor will probably sell his project or return the project to HUD if he is unable to sell the project to another investor.’’ Id. at 1309.

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