LURA

LURA: Land Use Restrictive Agreements in Commercial Real Estate

LURA: Land Use Restrictive Agreements in Commercial Real Estate

In certain multifamily real estate projects, an owner/developer will give up some of their rights via a Land Use Restrictive Agreement, or LURA, in order to receive tax credits in the future. The LURA will specifically document the restrictions placed upon the property, and typically help guarantee that the project will receive a specific number of LIHTC credits over a specific time period.