HI HB543

Direct Hawaii Housing Finance and Development Corporation to negotiate acquiring the leased fee interest in Front Street Apartments on Maui, a 142-unit affordable housing project with over 250 low-income residents that was developed with state financing in 2001.

Authorize Hawaii Housing Finance and Development Corporation to use eminent domain to acquire the Front Street Apartments leased fee interest if negotiated agreement is not reached within a reasonable time, exempting condemnation from legislative disapproval requirements.

Require Hawaii Housing Finance and Development Corporation to submit a report to the legislature no later than 20 days before the 2020 regular session regarding acquisition efforts for the Front Street Apartments.

Amend Act 150 (2018) to allow ground lease renegotiation or new lease issuance by December 31, 2019, as alternative to condemnation proceedings.

Appropriate $37,000,000 from the rental housing revolving fund for fiscal year 2019-2020 to complete the Leialii affordable housing project in Lahaina, Maui, by 2022, with funds returned if project does not obtain land use entitlements by April 30, 2020.