Establishes affordable rental and leasehold rent-to-own housing programs for government employees in Hawaii.
The bill establishes two housing programs within the Hawaii Housing Finance and Development Corporation: an affordable rental housing program and an affordable ninety-nine year leasehold rent-to-own program. These programs aim to create low-cost rental and leasehold residential condominium units for rent and sale to government employees on state-owned land. Eligible applicants include nonprofit and for-profit organizations, limited liability companies, partnerships, and government agencies.
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