Establishes a community land trust equity pilot program to support affordable housing in Hawaii.
The bill establishes a five-year community land trust equity pilot program in Hawaii. The program, authorized by the Hawaii housing finance and development corporation, aims to provide community land trusts with a low-cost line of credit for housing purposes. This initiative seeks to produce and preserve permanently affordable housing, increase community control, and reduce barriers to homeownership for low- to moderate-income households. The program will cease to exist on June 30, 2030, with a final report submitted to the legislature in 2030.
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