LURAs: Land Use Restrictive Agreements and the LIHTC Program
A Land Use Restrictive Agreement (LURA) is an agreement between an owner/developer and a government entity that documents the restrictions placed upon a property in order to receive …
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Multifamily Housing - Land Use Restrictive Agreement …
With a Land Use Restrictive Agreement (LURA) the owner gives up some of their rights of the land use in exchange for the promise of future.
Supportive Services are now required in some Multifamily Direct Loan (MFDL) LURAs, in addition to the Housing Tax Credit and BOND programs that have always required services. Any …
Land Use Restriction Agreement: Definition & How They Work
See more on contractscounsel.comA Land Use Restrictive Agreement (LURA) is a legal document in which the property owner gives up some of their rights of the land use in exchange for the promise of future tax credits, tenant income restrictions, unit set asides to be rented to lower income tenants and other affordability restrictions. LURA documents the …- 5/5(2)
- Published: Aug 5, 2021
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Understanding the LIHTC (Low Income Housing Tax Credit)
Section 42 LIHTC properties are subject to an initial 15-year federal compliance period, which is followed by an “extended use agreement” (often referred to as a “LURA” or “land use …
Multifamily Bond FAQs - Texas
With every bond transaction there is a Bond Regulatory Agreement and with Housing Tax Credit transactions there is a LURA. The Regulatory Agreement and LURA are agreements between …
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