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HI HCR109
Concurrent Resolution
Status
3/9/2017
Primary Sponsor
Angus McKelvey
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AI Summary
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Opposes the conversion of the Front Street Apartments in Lahaina, Maui from affordable housing to market-rate housing.
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Front Street Apartments currently house over 250 low-income residents and were developed in 2001 with state financing and tax credits for a 50-year affordability period.
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Property owners recently exercised an option to remove affordability requirements, allowing market-rate rents on new units and rent increases for existing tenants within a few years.
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Urges the Hawaii Housing Finance and Development Corporation to explore all available options to preserve the Front Street Apartments as affordable housing.
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Directs transmission of certified copies to the executive director and chair of the Hawaii Housing Finance and Development Corporation.
Legislative Description
Opposing The Conversion Of The Front Street Apartments In Lahaina, Maui, To Market-rate Housing And Urging The Hawaii Housing Finance And Development Corporation To Explore Ways To Preserve The Front Street Apartments As Affordable Housing.
Affordable Housing
Last Action
Report adopted; referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Aquino, McDermott, McKelvey excused (3).
3/28/2017