Establishes a rental housing revolving fund mixed-income subaccount to finance mixed-income rental housing projects in Hawaii.
The bill establishes the rental housing revolving fund mixed-income subaccount to provide loans for mixed-income rental housing projects in Hawaii. The fund aims to address the housing crisis by offering financial assistance to projects serving households earning up to 140% of the area median income. The Hawaii Housing Finance and Development Corporation will administer the fund, prioritizing projects that target low-income households, are located on state or county-owned land, and are reasonably projected to be fully repaid within 40 years.
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