Establishes a dwelling unit revolving fund equity program to address the demand for for-sale housing units by eligible buyers in Hawaii.
The bill creates a dwelling unit revolving fund equity program to fund for-sale housing development projects in Hawaii. The Hawaii Housing Finance and Development Corporation can purchase equity in these projects, reducing the price for eligible buyers. Eligible buyers must be bona fide Hawaii residents, own no other real property, receive no gift funds, and work in a profession facing a shortage. The corporation can establish criteria for prioritizing eligible buyers and must submit reports to the legislature.
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- Core Provisions
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- Legal Framework
- Critical Issues
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