litigation
confidence high
sentiment negative
materiality 0.65
Gyrodyne faces Article 78 lawsuit seeking to annul Flowerfield subdivision approval
Gyrodyne, LLC
- Petitioners filed Article 78 petition April 26 in NY Supreme Court, Suffolk County, to annul Planning Board's preliminary subdivision approval.
- Petition challenges SEQRA findings statement (Sept 2021) and March 30, 2022 preliminary approval of 8-lot subdivision of Flowerfield property.
- Gyrodyne says arguments are 'substantially similar' to prior opposition; will vigorously defend Planning Board's determinations.
- Preliminary approval subject to conditions: stormwater plan, SEQRA revisions, common area lot separation; final approval expected by end-2024.
- No service of petition yet; Article 78 proceeding may take two years or more due to appeals and pandemic court backlog.