Examples Land Use Restriction Agreements (LURAs)
MFA's Housing Development Department has provided the two examples below of Land Use Restriction Agreements (LURAs) so developers can see the types of restrictions that may be encountered when obtaining funding from MFA. The first is for a New Mexico Housing Trust (HTF) rental loan, and the second is an HTF homeownership development project. These templates are updated from time to time and may not represent the exact form currently in use.
The land trust template was supplied by the Sawmill Community Land Trust who wishes to note:
There are more than 200 community land trusts throughout the United States. A variety of lease agreements have been developed for different settings and situations. If you are interested in using the community land trust model and/or developing a land lease agreement such as the one linked to here, please contact the National Community Land Trust Network, which serves as a clearinghouse of information and technical support nationwide. They can provide more detailed information and help you craft an agreement that best suits your situation. You can find them at http://www.cltnetwork.org/