HI HB1929

Extends the deadline for the Hawaii Housing Finance and Development Corporation (HHFDC) to renegotiate or issue a new ground lease for the Front Street Apartments affordable housing project in Lahaina, Maui from December 31, 2019 to December 31, 2021.

If the HHFDC fails to reach a ground lease agreement by the extended deadline, it must initiate condemnation proceedings pursuant to chapter 101, Hawaii Revised Statutes.

Cites a pending federal lawsuit against Front Street Apartments tenants that has made it impossible to obtain an accurate appraisal of the ground lease value, preventing both condemnation and lease renegotiation efforts.

Takes effect upon approval and applies retroactively to December 30, 2019.