Land planner - Low-Income Housing Tax Credit (LIHTC)

Commercial Real Estate Dictionary

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L Land planner >> Low-Income Housing Tax Credit (LIHTC)

Land plannerA land planner is a professional who is responsible for optimizing the use and layout of a development site. LeaseA lease is a contract where the party who has right of possession (lessor) of a property transfers those rights to another party (lessee) for payment (rent). Lease concession

Lease concessions, or tenant inducements, are the financial incentives, lease terms, and conditions that a landlord may concede to a prospective or existing tenant during negotiations to induce the tenant into entering or renewing a lease agreement.

Lease concessions are also known as tenant inducements, landlord concessions, and rent concessions.

Examples of concessions that landlords may offer include tenant improvement allowances, free rent, lease renewal options, parking, signage, and first rights of refusals.

LeverageLeverage is the use of debt to increase financial capacity. LienA lien is a claim or hold on a property for payment of money owed. Limited partnershipA limited partnership is a legal entity of two or more parties that has at least one general partner with managerial responsiblities and consequentially unlimited liability, while other partners who engage in no managerial activities (limited parters) have liability limited to the extent of their capital contribution. Linkage FeeA linkage fee is a fee charged by a local government on real estate developments to raise funds to help pay for the additional needs of the community that result from the additional development.

Linkage fees are a tool that cities have turned to in order to raise funds to help meet the increasing demands for affordable housing that market rate developers cannot respond to.

The link between market rate developments and affordable housing is the resulting development and economic growth draws low-income employees and families who will need affordable housing that the market will not provide for.

Loan-to-value ratio (LTV ratio)The loan-to-value ratio (LTV) is the ratio of the loan amount divided by the total price or value of a property. London interbank offered rateLIBOR (London Interbank Offer Rate) is an interest rate commonly used on funds lent between banks on the London interbank market. Low riseA Low-rise is a multi-story building that falls among the lowest height portion of buildings when compared against mid-rise and high-rise buildings in a given market. Low-Income Housing Tax Credit (LIHTC)The Low Income Housing Tax Credit, LIHTC, is a dollar for dollar tax credit applied toward U.S. federal taxes that is awarded by state housing authorities to those who invest capital in the development or rehabilitation of affordable rental housing.

1. Land planner >> Low-Income Housing Tax Credit (LIHTC)

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