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HI SCR43
Concurrent Resolution
AI Summary
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Urges the Hawaii Housing Finance and Development Corporation to amend its 2024 Qualified Allocation Plan to prioritize Low-Income Housing Tax Credit allocation and Rental Housing Revolving Fund monies to specific project types.
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Prioritizes projects on state or county-owned land, projects required to be conveyed to the State or county at a definite time, and projects with perpetual affordability commitments.
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Prioritizes projects owned by organizations obliged to reinvest all financial surplus into constructing, managing, or rehabilitating housing in Hawaii.
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Prioritizes projects from developers with records of early loan repayment or those requesting shorter repayment terms to incentivize refinancing and freeing up funds for additional housing development.
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Directs transmission of the resolution to the Governor, Director of Business, Economic Development, and Tourism, and the Hawaii Housing Finance and Development Corporation Executive Director and Board members.
Legislative Description
Urging The Hawaii Housing Finance And Development Corporation To Amend The Priority For Which Low-income Housing Tax Credits Are Allocated And Monies In The Rental Housing Revolving Fund Are Used And Adopt Certain Administrative Rules That Incentivize The Development Of Affordable Housing In The State.
Rental Housing Revolving Fund
Last Action
Certified copies of resolution sent, 05-31-24
5/31/2024