Establishes a condominium loan program to fund repairs and maintenance for condominiums in Hawaii.
The bill establishes a condominium loan program administered by the Hawaii green infrastructure authority to help condominium associations fund essential repairs and maintenance, aiming to improve property conditions and enhance the insurability of condominiums. The program will provide loans for up to twenty years, with an appropriation of $30,000,000 for fiscal years 2025-2026 and 2026-2027. The program will address deferred maintenance and structural issues, benefiting approximately four hundred thousand people living in condominiums in the state.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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