HI SCR130

Urges Hawaii Housing Finance and Development Corporation to revise the Low-Income Housing Tax Credit Program's Qualified Allocation Plan to prioritize projects owned by the State or through State right of first refusal and purchase options.

Recommends adding a new criteria category allowing up to 20 percent of maximum 120 points for projects offering to convey ownership to the State or organizations obligated to use all financial surpluses for housing construction.

Proposes not awarding additional points for developer fees under 12 percent and prioritizing applicants who have demonstrated accelerated repayment of past Rental Housing Revolving Fund loans.

Urges prioritization of Rental Housing Revolving Fund awards to projects owned by the State or organizations obligated to use all financial surpluses to construct additional housing.

Requests amendments to administrative rules for the Rental Housing Revolving Fund to add a 20 percent criteria category for State-owned or surplus-reinvestment projects and prioritize applicants with accelerated repayment history.