SB834 amends restrictions on the transfer of real property developed and sold under Chapter 201h, Hawaii Revised Statutes.

SB834 modifies the restrictions on the transfer of real property developed and sold under Chapter 201h, Hawaii Revised Statutes. It outlines the conditions under which the Hawaiian Housing Authority (HHA) can exercise its first option to repurchase the property. The bill specifies the price at which the HHA can purchase the property, which includes the original cost, improvements, interest, and the HHA's share of net appreciation. It also grants a qualified nonprofit housing trust the option to purchase the property if the HHA waives its first option.

SB834 amends restrictions on the transfer of real property developed and sold under Chapter 201h, Hawaii Revised Statutes.

SB834 modifies the restrictions on the transfer of real property developed and sold under Chapter 201h, Hawaii Revised Statutes. It outlines the conditions under which the Hawaiian Housing Authority (HHA) can exercise its first option to repurchase the property. The bill specifies the price at which the HHA can purchase the property, which includes the original cost, improvements, interest, and the HHA's share of net appreciation. It also grants a qualified nonprofit housing trust the option to purchase the property if the HHA waives its first option.