Allows the Hawaii Community Development Authority to approve residential development on certain parcels of land in the Kakaako Makai area. Raises the building height limit on certain parcels in the area. Requires a certain percentage of the residential units developed on certain parcels to be allocated to households at or below a certain income level, with priority given to certain essential workforce in the area. Limits the sale of residential units developed in certain residential developments to prospective owner-occupants. Requires the Hawaii Community Development Authority to determine a Kakaako Makai Association Fee to be collected from all residential developments on certain parcels to be deposited into a special account in the Hawaii Community Development Revolving Fund to fund various services and projects in the Kakaako Makai area.
Clarifies that dwelling units eligible under the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of no less than ninety-nine years. Increases the time the sale price under the program must remain fixed from five years to ten years. Effective 7/1/3000. (HD1)
Establishes the Teacher Housing Assistance Program to be administered by the Department of Education to provide housing vouchers to certain eligible teachers. Appropriates funds out of the Teachers' Housing Revolving Fund. Effective 7/31/2055. (SD1)
Repeals statutory language requiring certain housing projects have at least five per cent of available units be for persons and families with incomes at or below thirty per cent of the median family income to be eligible for loans from the Rental Housing Revolving Fund. Repeals statutory language providing grants to developers for rental units set aside for persons and families with incomes at or below thirty per cent of the median family income in any project financed in part or in whole by the Rental Housing Revolving Fund. Repeals statutory language requiring the Hawaii Housing Finance and Development Corporation to establish an application process for Rental Housing Revolving Fund allocation that gives preference to projects providing units for persons and families with incomes at or below thirty per cent of the median family income.
Adds new preferences for state and county employees to the eligibility criteria for housing development programs administered by the Hawaii Housing Finance and Development Corporation. Clarifies the Corporation's authority to adopt rules and determine the order of applicant preferences.
Authorizes each county that has established a surcharge on state tax before 7/1/2015 to extend the surcharge until 12/31/2045, at the same rates, if the county does so before 1/1/2028. Provides that no county surcharge on state tax authorized for a county that has not established a surcharge on state tax before 7/1/2015, shall be levied before 1/1/2019, or after 12/31/2045. Repeals certain conditions on the use of surcharges for housing infrastructure costs. Effective 5/13/2040. (SD1)
Establishes an organizational, tax, and regulatory framework for limited-profit housing associations. Establishes the Limited-Profit Housing Council within the Department of Business, Economic Development, and Tourism to oversee limited-profit housing associations. Requires reports to the Legislature. Effective 7/1/2050. (SD1)
Clarifies that the dwelling units eligible for the Rent-to-Own Program shall be units that are for sale in fee simple or leasehold on state or county land under a lease with an initial term of not less than ninety-nine years. Increases the time period that the sales price of dwelling units under the Rent-to-Own Program shall remain fixed from five years to ten years after the rental agreement is executed. Effective 7/1/2050. (SD1)
Requires the Hawaii Housing Finance and Development Corporation to maximize the amount of housing built that utilizes loans from the Rental Housing Revolving Fund by prioritizing projects with the shortest projected loan repayment terms that produce the highest number of units, per dollar, per year. Repeals all other priorities and preferences for projects utilizing the RHRF.
Requires, for any affordable rental housing development project that receives financing or any financial assistance from the Hawaii Housing Finance and Development Corporation, that the Corporation require the housing development lease or occupancy agreement to allow residents to own or otherwise maintain one or more common household pets. Effective 7/1/3000. (HD1)