Hawaii SB2344 establishes affordable homeownership and rental supply programs to support middle-income households.
Hawaii SB2344 amends the Hawaii Revised Statutes to create new affordable homeownership and rental supply programs. It establishes two revolving funds: the affordable rental supply revolving fund and the affordable homeownership assistance revolving fund. These funds will provide financing for the development of affordable rental housing and second mortgages for eligible homebuyers. Eligible developers must prioritize housing for middle-income households and offer a certain percentage of units at market rate.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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