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Could Subsidized Housing be in Jeopardy at Woodburn Court Apartments

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New developments in the negotiations between the City of Binghamton and the owners of Woodburn Court Apartments over the future of subsidized housing there.

A 40 year payment in lieu of taxes - or pilot - agreement from 1977 is set to expire in 2017. Pat Luke from Blvd Capital, a Beverly Hills company which owns the property, wrote a letter to residents, many of whom are elderly or disabled, explaining that without a pilot agreement extension the subsidized housing may no longer be available. Luke tells Fox 40 he held off on sending that letter but felt he had to after not hearing back from the city about negotiating a new agreement. Binghamton Mayor Rich David called the letter a scare tactic.

"We've been trying to hold off as long as possible on issuing that notice, and we were hopeful that the city would meet with us and we could secure the 20 year extension of the Pilot," said - Pat Luke, BLVD Capital.

While private negotiations between the City and the firm are ongoing, the Mayor says that the city will not rubber stamp another 40 year extension, however shorter options are still on the table.