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HI HR11
Resolution
Status
3/29/2023
Primary Sponsor
Scott Nishimoto
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AI Summary
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Requests the Hawaii Housing Finance and Development Corporation to study the viability of increasing the minimum percentage of affordable housing units required for developers to qualify for exemptions under Chapter 201H, Hawaii Revised Statutes.
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Current Honolulu requirements mandate at least 51% of units in projects with more than 30 units be affordable, including 20% for households earning below 80% of area median income ($104,500 for a family of four in 2022) and 31% for households earning 81-120% of area median income.
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Affordable units must remain affordable for at least 30 years in Honolulu.
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Requires the Hawaii Housing Finance and Development Corporation to submit findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the 2024 Regular Session convenes.
Legislative Description
Requesting The Hawaii Housing Finance And Development Corporation To Study The Viability Of Increasing The Minimum Percentage Of Affordable Housing Units In A Project Required To Be Set Aside To Qualify For An Exemption Under Chapter 201, Hawaii Revised Statutes.
Counties
Last Action
Resolution adopted in final form.
3/29/2023