HI HR70

Urges the Hawaii Housing Finance and Development Corporation to amend administrative rules to establish an additional pathway for housing projects to receive exemptions from state laws and rules.

Proposed pathway would allow housing projects to forgo affordability requirements and income restrictions if they dedicate 100 percent of units exclusively to qualified residents for the project's lifetime.

New pathway would be available in addition to existing exemption criteria, which require projects to meet health and safety standards, utility commission standards, and obtain county legislative body approval and Land Use Commission determination.

New pathway option is urged to be offered alongside, not as a replacement for, the current requirement that half of all units be available to buyers earning at or below 140 percent of area median income.

Copies of the resolution are to be transmitted to the Executive Director and Board Chairperson of the Hawaii Housing Finance and Development Corporation.