HI SB2667

Indefinitely extends the deadline for the Hawaii Housing Finance and Development Corporation to renegotiate or issue a new ground lease for the Front Street Apartments affordable housing project in Lahaina, Maui.

Changes the corporation's requirement from "shall institute" to "may institute" condemnation proceedings for the ground lease, removing the previous December 31, 2021 deadline.

Addresses the inability to obtain an accurate appraisal during a federal court lawsuit that resulted in a ruling requiring affordable housing through 2051, which prevented both condemnation and lease negotiations.

Takes effect on July 1, 2050, and applies retroactively to December 30, 2021.