SUPPORTING THE USE OF THE DWELLING UNIT REVOLVING FUND TO FUND PREDEVELOPMENT COSTS FOR ANY GOVERNMENT AFFORDABLE HOUSING DEVELOPMENT PROJECT THROUGH INTERIM LOANS TO EXPEDITE THE DELIVERY OF AFFORDABLE HOUSING TO HAWAII'S RESIDENTS.

This Senate Concurrent Resolution expresses support for using the Dwelling Unit Revolving Fund to provide interim loans for predevelopment costs on government affordable housing projects across Hawaii. The measure aims to help cover expenses like site analysis, technical studies, design work, environmental assessments, and permit preparation that occur before construction begins. Unlike previous practice, this resolution encourages extending such funding to projects owned or administered by entities other than the Hawaii Housing Finance and Development Corporation. The resolution also specifies that these interim loans would be repaid by developers through the project's permanent financing source.