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.
Impact
The resolution outlines specific strategies for improving the funding process and distribution of housing resources. It advocates for using the Rental Housing Revolving Fund to enhance credit and guarantee loans from private financial institutions for developers seeking to create housing exclusively for Hawaii's residents. By prioritizing projects owned by the state or supportive housing units, the resolution aims to create a more stable and affordable housing environment, addressing both immediate needs and long-term sustainability in housing development.
Summary
Senate Resolution 204 urges the Hawaii Housing Finance and Development Corporation (HHFDC) 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 efficiently use taxpayer funds and address urgent state priorities. The resolution emphasizes the urgent need for innovative solutions to Hawaii's severe housing crisis, particularly in increasing the supply of affordable rental housing for residents. It highlights the importance of low-income housing tax credits and the need for developers to build projects that align with state housing needs.
Sentiment
Overall, the sentiment surrounding SR204 appears to be supportive among legislators who recognize the critical housing issues facing the state. There seems to be a consensus that priority should be given to solutions that not only increase the number of affordable housing units but also ensure that these units remain accessible to residents with special needs. The call for reform in existing funding and allocation methods reflects a proactive approach to tackling the complexities of housing in Hawaii.
Contention
Notable points of contention may arise regarding the details of fund allocation and the prioritization criteria in the Qualified Allocation Plan for low-income housing tax credits. Concerns have been raised about developers utilizing these funds effectively and whether the proposed changes might effectively balance the need for profitability with community needs. Some stakeholders may worry that the new criteria could limit the participation of developers in the market or that not enough emphasis is placed on the immediate housing needs of all demographics within the state.
Same As
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 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 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 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.
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.
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 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 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 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.
Construction: other; use of design-build constructing for certain school buildings; allow. Amends secs. 1, 1a & 2 of 1937 PA 306 (MCL 388.851 et seq.).