LURA definition

LURA means the Land Use Restriction Agreement that is a recorded agreement between GHFA and the Owner of a HOME-funded project. The LURA is binding upon the Owner and its successors in interest, and that encumbers the project with respect to this Plan and the requirements of the HOME program.

LURA means the “Extended Low-Income Housing Commitment” required by IRC § 42(h)(6) which must be in the form of a Declaration of Affirmative Land Use and Restrictive Covenants Agreement (commonly referred as the “LURA”) that is recorded and runs with the land on which the Project is developed, restricting the use of land by the Owner and its successors and assigns to the terms and conditions of the Project, as approved by ADOH. All Amenities, Design Features, and Tenant Services described and committed in the Application will be identified in the LURA and will be inspected at each on-site Compliance inspection.

LURA means the Land Use Restriction Agreement that is a recorded agreement between GHFA and the Owner of a HOME-funded project.

Examples of LURA in a sentence

• The monitoring review found violations of the LURA and TDHCA rules.

• If a HUB is the general partner of a Development Owner and it (i) is being removed as the result of a default under the organizational documents of the Development Owner or (ii) determines to sell its ownership interest, in either case, after the issuance of 8609s, the purchaser of that general partnership interest is not required to be a HUB as long as the LURA does not require such continual ownership or a material LURA amendment is approved.

• If the LURA requires ownership or material participation in ownership by a qualified non-profit organization, but the Development did not receive Tax Credits pursuant to §42(h)(5) of the Code, the Development Owner must show that the transferee is a non-profit organization that complies with the LURA.

• If the LURA requires ownership or material participation in ownership by a Qualified Non-Profit Organization, and the Development received Tax Credits pursuant to §42(h)(5) of the Code, the transferee must be a Qualified Non-Profit Organization that meets the requirements of §42(h)(5) of the Code and Texas Government Code §2306.6706.

• HTC Development (also referred to as "HTC Property")--A Development subject to an active LURA for Housing Tax Credits allocated by the Department.

More Definitions of LURA

LURA means the “Extended Low‐Income Housing Commitment” required by IRC § 42(H)(6) which must be in the form of a Declaration of Affirmative Land Use and Restrictive Covenants Agreement (commonly referred as the “LURA”) that is recorded and runs with the land on which the Project is developed, restricting the use of land by the Owner and its successors and assigns to the terms and conditions of the Project, as approved by ADOH.

LURA means the Land Use Restriction Agreement that is a recorded agreement between GHFA and the Owner of a HOME-funded project. The LURA is binding upon the Owner and its successors in interest, and

LURA means land use restriction agreement, and has the same meaning as Declaration of Restrictive Covenants.”Management Company” means a person or entity that has contracted with the Owner to manage the Project property, including such activities as leasing units, enforcing lease requirements and rules, repairs and maintenance, Housing Credit compliance and other matters relating to the operation of the project.

LURA. ' means with respect to any issue of Bonds, the land use restriction agreement, tax regulatory agreement or other similar agreement imposing operating restrictions on the related Project.

LURA means Land Use Restriction Agreement.

LURA means the Land Use Restrictions Agreement or Declaration of Land Use Restrictions (Restrictive Covenants) governing the future disposition of any property conveyed from the HLB.

LURA means the Land Use Restriction Agreement that is a recorded agreement between GHFA and the