HI HCR83

Supports expanding use of the Dwelling Unit Revolving Fund to provide interim loans for predevelopment costs on any government affordable housing development project, not just those owned by the Hawaii Housing Finance and Development Corporation.

Predevelopment phase activities include site analysis, technical studies, conceptual designs, environmental assessments, and permit preparation—a higher-risk financing stage where lenders face greater possibility of not recouping loans.

Recognizes that not all Hawaii counties have flexible funding available for affordable housing predevelopment costs, making state-level access critical.

Interim predevelopment loans would be repaid to the Hawaii Housing Finance and Development Corporation through the project's permanent financing source.

Directs certified copies of the resolution to be transmitted to the Executive Director and Board Chairperson of the Hawaii Housing Finance and Development Corporation.