So basically he kept the deals of the contract, but now government wants to come dpwn on him since those conditions no longer are in force.
In the 1960s, in order to encourage low-income rental buildings, Congress gave some sorts of incentives to property owners that would expire in ~20 years, after which, the properties would be free to go to market rates.
As the expiration of those incentive agreements was drawing nigh, at the behest of then-congresscritter Joe Kennedy, Congress pulled some similar-but-not-theft stunt.
It’s simply quite shocking that politicians even talk like this. The arrogance of it is just flabbergasting. Hey, if they really want to keep 52 units $1000 cheaper, write the landlord a check for $52,000 each month. Adjust it for market rates when appropriate.
And I know, that’s also crazy - but they already kicked in $5.4 million or whatever to finance its construction.