S.R. No. 114 Summary

• Encourages the Hawaii Housing Finance and Development Corporation to reevaluate the rental assistance program, which provides monthly rental assistance subsidies to help eligible tenants afford rent payments in qualified rental projects.

• Notes that the program has historically supported 1,437 units across 17 affordable rental projects statewide, with subsidies targeting households at or below 80 percent of area median income.

• Identifies program decline as older project contracts expired and funding constraints limited new contracts, reducing active projects from 17 to 10 with 1,204 assisted units remaining.

• Calls for reevaluation of program eligibility requirements to increase low-income household access to permanent affordable rental housing.

• Directs transmission of a certified copy of the resolution to the Executive Director of the Hawaii Housing Finance and Development Corporation.