CFC Grants Summary Judgment in Takings Case on Motion for Reconsideration

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Anaheim Gardens v. United States involved plaintiffs who filed suit in the U.S. Court of Federal Claims claiming that the Government effected a taking of their contractual right to prepay government-insured mortgages on low-income housing. The case arose after the Government passed the Low Income Housing Preservation and Resident Homeownership Act, a statute that plaintiffs alleged was intended to “deter prepayment in order to avoid what loomed as a potentially significant reduction in the stock of affordable housing.”

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