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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Homesavers Council of Greenfield Gardens, Inc. v. Sanchez, 70 Mass. App. Ct. 453 (2007)

Citation
Homesavers Council of Greenfield Gardens, Inc. v. Sanchez, 70 Mass. App. Ct. 453 (2007)
Parent Document
Homesavers Council of Greenfield Gardens, Inc. v. Sanchez, 70 Mass. App. Ct. 453 (2007)
Jurisdiction
Massachusetts (state)
Effective Date
2007-10-10

Other Sections in This Document (33)

Full Text

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The section 236 program provides a subsidy to mortgage lenders so that they will extend financing at a below-market rate to private developers to construct or rehabilitate apartments for low income use. Rents are established at below-market levels because the landlord can pass through to the tenants their reduced financing costs. See Tedford v. Massachusetts Hous. Fin. Agency, 390 Mass. 688, 690 (1984); Volpe Constr. Co. v. First Natl. Bank of Boston, 30 Mass. App. Ct. 249, 260 n.15 (1991).