LURAs: Land Use Restrictive Agreements and the LIHTC Program

LURAs: Land Use Restrictive Agreements and the LIHTC Program

If you’re a multifamily investor/developer interested in using Low Income Housing Tax Credits (LIHTCs) to fund the construction or rehabilitation of a multifamily property, you will need to agree to limit rents for a certain period of time, as well as to abide by other restrictions. All of these stipulations will be put forth in a contract called a Land Use Restrictive Agreement, or LURA.

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Rental Assistance Demonstration (RAD): A Guide

Rental Assistance Demonstration (RAD): A Guide

Rental Assistance Demonstration, or RAD, is a Department of Housing and Urban Development (HUD) program, which seeks to help investors preserve affordable housing across the U.S. To do this, the RAD program allows investors using four HUD legacy programs the ability to convert their housing into long-term Section 8 contracts. This helps investors by giving them more flexibility in terms of acquiring the financing to repair their properties, including making it easier to apply for the LIHTC (Low-Income Housing Tax Credit Program).

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