Establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental housing projects.

The bill establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental housing projects. The subaccount will be used to make loans to projects serving households earning up to 140% of the area median income. The Hawaii Housing Finance and Development Corporation will prioritize projects that serve a diverse range of incomes, are located on state or county-owned land, and are reasonably projected to be fully repaid within 40 years. The bill also authorizes the transfer of funds from the rental housing revolving fund to the mixed-income subaccount.

Establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental housing projects.

The bill establishes a mixed-income subaccount within the rental housing revolving fund to support mixed-income rental housing projects. The subaccount will be used to make loans to projects serving households earning up to 140% of the area median income. The Hawaii Housing Finance and Development Corporation will prioritize projects that serve a diverse range of incomes, are located on state or county-owned land, and are reasonably projected to be fully repaid within 40 years. The bill also authorizes the transfer of funds from the rental housing revolving fund to the mixed-income subaccount.