In the late 1980s and early 1990s Congress passed two statutes to address what it viewed as an impending housing crisis for low and moderate income families. Though these statutes were repealed eight years later in the Hope Act, they caused tremendous economic hardship for a handful of property owners who were forced to provide housing to low and moderate income families, and to do so while renting at well below market rates. For the Petitioner in this case, CCA Associates, the eight year imposition resulted in the loss of over $700,000 in net income; however, the Federal Circuit held that this imposition was not burdensome enough to require compensation under the Takings Clause of the Fifth Amendment.
CCA Associates has filed a petition for certiorari with the Supreme Court asking the Court hear its case. Given the importance of this issue, NFIB Small Business Legal Center filed in support of the petition. We urged the Court to accept the case in order to bring much needed clarification to the takings doctrine, and to encourage a rule that is more fair to property owners.
Status: Petition for certiorari denied.