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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

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)
Effective Date
1974-09-25

Other Sections in This Document (236)

Full Text

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at 1314. By the time of the program’s suspension, HUD owned six and held assigned mortgages on sixty projects. None had then been sold, but based on experience under the Section 221(d)(3) below market interest program, HUD expected an average loss of 45% of acquisition costs, and a turnover period of up to three years during which time operating costs would exceed market rents (i. e.,