H.B. 2328 Summary

• Appropriates funds to the Hawaii Housing Finance and Development Corporation (HHFDC) to acquire three buildings on the Bethel Block in Honolulu (Ohia/Bethel Building, Blaisdell Building, and Whitlow Building) identified by tax map keys (1)2-1-003:008, (1)2-1-003:009, and (1)2-1-003:010.

• Authorizes HHFDC to plan, design, and construct improvements to the acquired properties for affordable housing purposes.

• Requires all housing units created or preserved on the parcels to be offered at affordable rates for households earning up to a specified percentage of area median income (AMI), with the project targeting households at or below 60% AMI, with affordability restrictions applying in perpetuity.

• Requires contracts awarded under this Act to use competitive sealed proposal procurement methods.

• Takes effect July 1, 3000 (note: effective date appears to contain a typographical error with year 3000).