HI SB254

Hawaii housing finance and development corporation shall coordinate with state and county agencies to develop transit-oriented development projects on state-owned or administered lands within one mile of proposed transit station sites.

Developments on state land parcels of 10 acres or greater must reserve rental housing units at specific affordability levels: 10% for residents earning up to 30% of area median income, 10% for up to 60%, 10% for up to 80%, and 10% for up to 100% of area median income.

State or county agencies owning subject lands that do not coordinate with the Hawaii housing finance and development corporation to develop reserved housing units must transfer the property to the corporation for development.

The State may provide compensation or replacement to agencies for transferred property.

Act takes effect upon approval.