HI SR65

Urges the Hawaii Housing Finance and Development Corporation to work with housing stakeholders and state and county agencies to evaluate and update policies and procedures for the rental housing revolving fund program.

Requests evaluation of the timeframe and procedures for addressing outstanding award commitment funds that have not been timely used by developers and making unused funds available to other applicants.

Requests feasibility study on establishing a minimum of three annual award rounds from the fund and streamlining the application packet and requirements.

Urges reinstatement of the predevelopment loan program (currently temporarily suspended) to provide loans for predevelopment activities including legal fees, feasibility studies, planning, design, and environmental studies.

Directs transmission of the resolution to the Governor, Hawaii Housing Finance and Development Corporation Executive Director, Hawaii Community Development Authority Executive Director, Director of the Office of Planning, and Chairperson of the Special Action Team on Affordable Rental Housing.