Establishes a rental housing revolving fund mixed-income subaccount for Hawaii housing projects.
This bill establishes the rental housing revolving fund mixed-income subaccount in Hawaii, authorizing the transfer of funds from the rental housing revolving fund to this new subaccount. The subaccount will be used to finance mixed-income rental housing projects, prioritizing those serving households earning up to 140% of the area median income. The fund will support activities such as new construction, rehabilitation, pre-development, and acquisition of housing units for preservation.
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