HI HB1470

Establishes the Small Housing Provider Grant Program within the Hawaii Housing Finance and Development Corporation (HHFDC) to provide grants to eligible property owners of multi-family buildings with 2-50 rental units

Limits eligibility to property owners with income at or below 150% of the area median family income as determined by HUD

Requires grant recipients to sign a five-year affordability covenant subjecting rental units to maximum rent limits and tenant income eligibility requirements

Restricts grant usage to property renovations and repairs (structural, plumbing, electrical, safety) and addressing hazardous and unsafe living conditions

Appropriates unspecified amounts from general revenues for fiscal years 2025-2026 and 2026-2027, with per-unit and per-building grant caps left blank in the bill