Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under The Rental Housing Revolving Fund.
Impact
If enacted, HCR85 could significantly influence state housing policies by providing a structured method to reduce financing costs for development projects. The introduction of credit enhancements is expected to lower development costs, making it more feasible for developers to undertake housing projects. Furthermore, this resolution advocates for a streamlined process by involving the HHFDC, which plays a key role in overseeing and facilitating housing finance and development in Hawaii. By enabling these financial supports, the state may see an increase in the availability of affordable housing options for its residents.
Summary
HCR85 is a House Concurrent Resolution from the Thirty-Second Legislature of Hawaii, requesting the Hawaii Housing Finance and Development Corporation (HHFDC) to adopt administrative rules that would allow for the provision of credit enhancements for construction loans under the Rental Housing Revolving Fund. The resolution highlights the growing challenges faced by housing developers due to high development costs compounded by rising interest rates. With these financial pressures impacting the ultimate cost for residents, the resolution aims to alleviate some of this burden through financial mechanisms that encourage the construction of affordable housing.
Contention
While HCR85 appears to have a clear intent to promote affordable housing development, there may be potential points of contention surrounding the administrative processes involved in implementing the credit enhancements. Questions may arise concerning the criteria for eligibility, the mechanisms of risk associated with the Rental Housing Revolving Fund, and broader impacts on public resources. Stakeholders may also debate the efficacy of governmental intervention in housing finance versus market-driven solutions, as the resolution involves leveraging state resources to support private development.
Same As
Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under The Rental Housing Revolving Fund.
Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under The Rental Housing Revolving Fund.
Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under Any Funds Administered By The Corporation.
Requesting The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Enable Credit Enhancement For Construction Loans Under Any Funds Administered By The Corporation.
Urging The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Prohibit Rental Housing Revolving Fund Loan Forgiveness Unless The Corporation Repossesses The Project.
Urging The Hawaii Housing Finance And Development Corporation To Adopt Administrative Rules To Prohibit Rental Housing Revolving Fund Loan Forgiveness Unless The Corporation Repossesses The Project.
Urging The Hawaii Housing Finance And Development Corporation To Amend The Priority For Which Low-income Housing Tax Credits Are Allocated And Monies In The Rental Housing Revolving Fund Are Used And Adopt Certain Administrative Rules That Incentivize The Development Of Affordable Housing In The State.
Urging The Hawaii Housing Finance And Development Corporation To Amend The Priority For Which Low-income Housing Tax Credits Are Allocated And Moneys In The Rental Housing Revolving Fund Are Used And To Adopt Certain Administrative Rules That Incentivize The Development Of Affordable Housing In The State.
Urging The Hawaii Housing Finance And Development Corporation To Revise The Prioritization And Evaluation And Ranking Criteria For Its Allocation Of Low-income Housing Tax Credits And Awards From The Rental Housing Revolving Fund.
Urging The Hawaii Housing Finance And Development Corporation To Prioritize The Allocation Of Funds From The Rental Housing Revolving Fund, Dwelling Unit Revolving Fund, And Low-income Housing Tax Credits For Projects That Will Make The Most Efficient Use Of Taxpayer Funds And Address The Most Urgent State Priorities.
Urging The Hawaii Housing Finance And Development Corporation To Prioritize The Allocation Of Funds From The Rental Housing Revolving Fund, Dwelling Unit Revolving Fund, And Low-income Housing Tax Credits For Projects That Will Make The Most Efficient Use Of Taxpayer Funds And Address The Most Urgent State Priorities.