Enhance use lease/historic renovation | veterans affairs
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Enhanced-Use Lease (EUL) program allows VA to manage underutilized property through leasing arrangements with state or local governments or private sector organizations. The majority of VA
EUL projects serve to provide safe, affordable housing for Veterans and their families. The properties are leased to development entities that finance, design, develop, construct, operate
and maintain the property. The entity assumes all financial obligations and risks associated with the development. These developers (lessees) utilize various sources of financing, including
tax credits for low-income housing, grants, private and commercial loans, and public issue bonds. Under some EULs governed under previous authority, VA leases back space or services under
favorable terms or at reduced costs. The EUL Program benefits Veterans