HI HB2006

Directs the Hawaii Housing Finance and Development Corporation to negotiate with the owners of Front Street Apartments on Maui to either extend affordable rents through at least 2027 or acquire the property.

Requires 70 rental units to be maintained at affordable rates for households earning up to 50% of median family income and 71 units for households earning up to 60% of median family income if the property is acquired.

Authorizes the state to use eminent domain to acquire the Front Street Apartments property if negotiations fail, without being subject to legislative disapproval.

Appropriates unspecified general revenue funds for fiscal year 2018-2019 to negotiate, acquire, or initiate condemnation of the property, contingent on Maui County providing matching funds.

Requires a report to the legislature no later than twenty days before the 2019 regular session on acquisition efforts and financing recommendations.