Common Contracts
1 similar Multifamily Rental Housing contracts
Multifamily Rental HOUSING Regulatory AgreementMultifamily Rental Housing • November 29th, 2013
Description: Community Development Block Grant Disaster Recovery (CDBG-DR) grantees typically require newly-constructed multifamily rental projects to be affordable (for households at, or below, 80% of the Area Median Income) for a period of time. This sample regulatory agreement provides a template for use by grantees and their partners. It is a recommended practice for grantees to enforce affordability through a regulatory agreement that is recorded in the local land records and that will remain in force if the grantee's loan has been repaid. It is also a recommended practice to structure the regulatory agreement so that it will be binding on any future owners of the property, including a lender who acquires the project by foreclosure.
