Establishes a condominium loan program to provide low-cost financing for maintenance and repairs in condominiums.

The bill establishes a condominium loan program within the Hawaii green infrastructure authority to provide low-cost financing for maintenance and repairs in condominiums. It creates a condominium loan revolving fund for this purpose and allows the authority to make loans directly to condominium associations that cannot secure full replacement value insurance or obtain sufficient funds from private lenders. The bill also establishes a condominium loan loss reserves program to incentivize lenders to provide loans at competitive rates and terms.

Establishes a condominium loan program to provide low-cost financing for maintenance and repairs in condominiums.

The bill establishes a condominium loan program within the Hawaii green infrastructure authority to provide low-cost financing for maintenance and repairs in condominiums. It creates a condominium loan revolving fund for this purpose and allows the authority to make loans directly to condominium associations that cannot secure full replacement value insurance or obtain sufficient funds from private lenders. The bill also establishes a condominium loan loss reserves program to incentivize lenders to provide loans at competitive rates and terms.