OPINION OF THE COURT
MEMORANDUM.
In each proceeding, the order insofar as appealed from should be reversed, with costs, and the matter remitted to the Appellate Division with directions to remand to the New York City Loft Board for further proceedings in accordance with this memorandum. In accordance with its regulations (see 29 RCNY § 1-06[j][5]), the Loft Board reviewed and rejected the parties' proposed settlement agreement as perpetuating...
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