§201H-121 Purpose; findings and determinations. The legislature finds and declares that the health and general welfare of the people of this State require that the people of this State have safe and sanitary rental housing accommodations available at affordable rents; that a grave shortage in the number of such accommodations affordable by families and individuals of low- and moderate-income in the State exists; and that it is essential that owners of rental housing accommodations be provided with appropriate additional means to assist in reducing the cost of rental housing accommodations to the people of this State.
The legislature further finds that the high cost of infrastructure development and the obtaining of interim construction financing are two of the greatest impediments to the production of affordable rental housing in this State. It is especially difficult for private nonprofit and for-profit entities to participate in the development of affordable housing due to the difficulty in amassing the capital necessary to plan and carry out a project to completion.
It is the purpose of this subpart to:
(1) Assist owners in maintaining rentals at levels affordable to low- and moderate-income families and individuals by providing owners with rental assistance payments which, together with rental payments received from low- and moderate-income tenants, will provide owners with limited but acceptable rates of return on their investments in rental housing accommodations. Assisting owners by entering into contracts with them to provide for rental assistance payments is a valid public purpose and in the public interest; and
(2) Provide a funding source for interim construction financing for the development of affordable rental housing by private nonprofit and for-profit entities, as well as the corporation; provided that in allotting this financing, the corporation shall give preference to qualified sponsors who are private nonprofit and for-profit entities. [L 2006, c 180, pt of §4]
Structure Hawaii Revised Statutes
Title 13. Planning and Economic Development
201H. Hawaii Housing Finance and Development Corporation
201H-2 Hawaii housing finance and development corporation; establishment, staff.
201H-3 Board; establishment, functions, duties.
201H-4.5 Urban gardening programs.
201H-5 Fair housing law to apply.
201H-6 Housing advocacy and information system.
201H-9 Acquisition, use, and disposition of property.
201H-10 Cooperative agreements with other governmental agencies.
201H-11 Agents, including corporations.
201H-12 Development of property.
201H-13 Eminent domain, exchange or use of public property.
201H-14 Contracts with the federal government.
201H-15 Administration of low-income housing credit allowed under section 235-110.8.
201H-16 Administration of federal programs.
201H-17 Federal funds outside of state treasury.
201H-18 Public works contracts.
201H-19 Remedies of an obligee: mandamus; injunction; possessory action; receiver; accounting; etc.
201H-20 Subordination of mortgage to agreement with government.
201H-23 For-sale developments.
201H-33 Powers and duties, generally.
201H-34 Additional powers; development.
201H-34.5 Authority to modify and amend development agreements with eligible developers.
201H-36 Exemption from general excise taxes.
201H-37 Exemption from tax on income and obligations.
201H-38 Housing development; exemption from statutes, ordinances, charter provisions, and rules.
201H-40 Housing projects; construction and sponsorship.
201H-41 Independent development of projects.
201H-42 Private development of projects.
201H-43 Interim financing of projects.
201H-44 Commercial, industrial, and other uses.
201H-45 Sale; mortgage, agreement of sale, and other instruments.
201H-47 Real property; restrictions on transfer; waiver of restrictions.
201H-48 Exception of current owners in corporation projects.
201H-49 Real property; restrictions on use.
201H-50 Restrictions on use, sale, and transfer of real property; effect of amendment or repeal.
201H-51 Corporation's right to repurchase or rent real property; authority to seek recovery.
201H-52 Nonprofit organizations and government agencies.
201H-53 Rate of wages for laborers and mechanics.
201H-57 Land leases to nonprofit organizations providing affordable housing.
201H-58 Leases; self-help housing.
201H-59 Affordable rental housing development program.
201H-72 Issuance of bonds for the development of infrastructure.
201H-73 Issuance of bonds for the preservation of low-income housing projects.
201H-74 Bonds; interest rate, price, and sale.
201H-75 Trustee; designation, duties.
201H-77 Investment of reserves, etc.
201H-78 Security for funds deposited by the corporation.
201H-79 Arbitrage provisions, interest rate.
201H-80 Housing finance revolving fund; bond revolving funds.
201H-82 Rate of wages for laborers and mechanics.
201H-86 Low-income housing tax credit loan.
201H-92 Owner-occupancy requirement.
201H-95 Eligible project loans.
201H-96 Eligible improvement loans.
201H-97 Housing loan programs; procedures and requirements.
201H-98 Housing loan programs; general powers.
201H-99 Housing loan programs; self-supporting.
201H-100 Housing loan programs; fees.
201H-102 to 201H-104 REPEALED.
201H-105 Advance commitments program.
201H-106 Loan funding programs.
201H-107 Loans; service and custody.
201H-108 Loans; sale, pledge, or assignment.
201H-109 Loans; insurance and guarantees.
201H-121 Purpose; findings and determinations.
201H-123 Rental assistance revolving fund.
201H-124 Rental assistance contracts.
201H-125 Rental assistance program.
201H-126 Benefits of program not exclusive.
201H-142 Housing loan programs; authorization.
201H-143 Housing loan programs; procedures and requirements.
201H-144 Housing loan programs; general powers.
201H-151 State mortgage guarantee.
201H-152 Mortgage guarantee agreements.
201H-162 Qualifications for downpayment loans.
201H-163 Restrictions on borrower.
201H-163.5 Downpayment loan assistance program; fees.
201H-171 Homebuyers' club program.
201H-191 Dwelling unit revolving fund.
201H-191.5 Regional state infrastructure subaccounts.
201H-202 Rental housing revolving fund.
201H-203 Eligible applicants for funds.