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HI SCR61
Concurrent Resolution
Status
4/1/2024
Primary Sponsor
Stanley Chang
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AI Summary
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Request that the Hawaii Housing Finance and Development Corporation adopt administrative rules enabling credit enhancement for construction loans under any of its administered funds
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Cite high housing development costs in Hawaii exacerbated by current interest rates as justification for reducing financing costs through credit enhancement
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Assert that credit enhancement will reduce development costs ultimately passed on to residents and poses minimal risk since HHFDC is already involved in underwriting and takeout financing
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Direct transmission of certified copies of the concurrent resolution to the Executive Director and Board of Directors of the Hawaii Housing Finance and Development Corporation
Legislative Description
Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under Any Funds Administered By The Corporation.
Housing
Last Action
The committee(s) on HSG recommend(s) that the measure be deferred.
4/10/2024