The bill stipulates that housing projects are not subject to income restrictions if certain conditions are met, such as reserving a percentage of units for households with incomes not exceeding 140% of the area median income. These projects could include units sold or transferred to owner-occupiers or residents of the State, with provisions stating that if the projects fail to comply with these conditions, all exemptions will lapse. Thus, it aims to enhance homeownership opportunities in a market that has traditionally faced challenges with affordability.
Summary
SB872, titled 'Relating to Housing,' proposes amendments to Chapter 201H of the Hawaii Revised Statutes, allowing the Hawaii Housing Finance and Development Corporation to expedite the development of housing projects. Under this bill, the corporation can develop housing on behalf of the State or assist eligible developers, granting these projects exemptions from various state and local laws related to planning, zoning, and construction standards. This exemption is aimed at speeding up the housing development process to address pressing housing shortages in Hawaii.
Contention
However, concerns have been raised regarding the potential implications of such broad exemptions. Critics argue that while the intention to increase affordable housing supply is commendable, this could lead to the bypassing of critical planning and zoning regulations that ensure community needs and safety standards are met. The fact that counties are required to approve projects within a strict timeline, with deemed approvals if they fail to act, adds a layer of contention, as it may undermine local governance and community input in housing development decisions.