Establishes a condominium loan program to fund repairs and maintenance for condominiums in Hawaii.
The bill establishes a condominium loan program to help condominium associations fund essential repairs and maintenance, aiming to enhance the insurability of properties. It appropriates $30,000,000 for fiscal years 2025-2026 and 2026-2027 from the condominium loan program special fund. The Hawaii green infrastructure authority will administer the program on behalf of the department of business, economic development, and tourism. The program seeks to address deferred maintenance and structural issues, reducing the financial burden on condominium owners and improving property values.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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