HI SCR51

Approves fee simple sale of property at 91-1072 Welowelo Street in Kapolei, Oahu by the Hawaii Housing Finance and Development Corporation

Property was acquired by the Corporation at foreclosure and will be resold to a qualified resident with shared appreciation requirements (State receives 50% of property appreciation upon refinance or sale)

Sale enables the Corporation to recoup the State's subsidy from the original affordable housing program and provides homeownership opportunity for another qualified resident

Clarifies there are no further development plans for the property and includes submission certification to the Office of Hawaiian Affairs per Hawaii Revised Statutes section 171-64.7

Makes technical amendments including appraiser identification and minor stylistic changes for clarity