Title 13, Planning And Economic Development

[§201H-57] Land leases to nonprofit organizations providing affordable housing. (a) Notwithstanding any provision to the contrary, the [corporation], pursuant to section 201H-4(b), may lease land to any qualified nonprofit organization providing affordable housing, under the foll…

[§201H‑58] Leases; self-help housing. (a) The [corporation] may lease parcels that it deems suitable for affordable housing at $1 per year for up to fifty years to organizations or community trusts to develop the parcel with ownership units through self-help development. (b) The …

[§201H‑59] Affordable rental housing development program. (a) There is established the affordable rental housing development program under the Hawaii housing finance and development corporation. (b) The purpose of this program shall be to preserve affordable rental housing units.…

§201H-6 Housing advocacy and information system. (a) The corporation, with the assistance of other agencies of the State and counties with related responsibilities, shall develop and maintain a housing advocacy and information system to aid the corporation in meeting the needs an…

§201H-7 Housing research. (a) The corporation may study the plans of any government regarding the clearing, replanning, or reconstruction of an area where unsafe or unsanitary dwelling or housing conditions exist. (b) The corporation may purchase materials for the development of …

[§201H-70] Additional powers. The powers conferred upon the corporation by this part shall be in addition and supplemental to the powers conferred by any other law, and nothing in this part shall be construed as limiting any powers, rights, privileges, or immunities so conferred.…

[PART III.] FINANCING PROGRAMS A. General Provisions §201H-71 Bonds; authorization. (a) The corporation, with the approval of the governor, may issue from time to time bonds (including refunding bonds to pay, retire, or provide for the retirement of bonds previously issued by the…

§201H-72 Issuance of bonds for the development of infrastructure. (a) Without limiting section 201H-71, the corporation, pursuant to and in accordance with this subpart, section 46-80.1(a), or section 201H-191.5, may issue bonds for the purpose of financing the development of inf…

[§201H-73] Issuance of bonds for the preservation of low‑income housing projects. [(a)] The corporation, pursuant to and in accordance with this subpart, may issue bonds to purchase low-income housing projects financed by the United States Department of Housing and Urban Developm…

[§201H-74] Bonds; interest rate, price, and sale. (a) The bonds shall bear interest at rates payable at times that the corporation, with the approval of the governor, may determine except for deeply discounted bonds that are subject to redemption or retirement at their accreted v…

§201H-75 Trustee; designation, duties. (a) The corporation may designate a trustee for each issue of bonds secured under the same trust indenture; provided that the trustee shall be approved by the director of finance. (b) The trustee shall be authorized by the corporation to rec…

[§201H-76] Trust indenture. (a) A trust indenture may contain covenants and provisions authorized by part III of chapter 39, and as deemed necessary or convenient by the corporation for the purposes of this part. (b) A trust indenture may allow the corporation to pledge and assig…

[§201H-77] Investment of reserves, etc. The corporation may invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement, including the proceeds of bonds, in property or securities in which the director of finance may legally invest, as …

[§201H-78] Security for funds deposited by the corporation. The corporation may by resolution provide that all moneys deposited by it shall be secured by:

[§201H-79] Arbitrage provisions, interest rate. (a) Any other provision of law to the contrary notwithstanding, neither the corporation nor the director of finance shall make loans or purchase mortgages with the proceeds of general obligation bonds of the State or from a revolvin…

[§201H-8] Housing counseling. The corporation may provide the following services for the programs it administers:

§201H-80 Housing finance revolving fund; bond revolving funds. (a) There is created a housing finance revolving fund to be administered by the corporation. Notwithstanding sections 36-21 and 201H-191, the proceeds in the fund shall be used for long-term and other special financin…

[§201H-82] Rate of wages for laborers and mechanics. The corporation shall require an eligible bidder or eligible developer of a housing project developed under this subpart to comply with the requirements of section 104-2 for those laborers and mechanics hired to work on that ho…

[§201H‑86] Low-income housing tax credit loan. (a) The corporation may provide a no-interest low-income housing tax credit loan to an owner of a qualified low-income building that has been awarded federal tax credits that are subject to the state housing credit ceiling under sect…

[§201H-87] Applications for financing; application periods. If sufficient funding is available, the corporation shall open at minimum two application periods each year for the receipt of applications for financing from parties interested in applying for financing for the developm…

[§201H-88] Authorization to secure lines of credit or other instruments of indebtedness. The corporation, subject to legislative approval, may secure a line of credit or other instrument of indebtedness to be used to meet the requirements of federal tax law for the bond volume ca…

[§201H-9] Acquisition, use, and disposition of property. (a) The corporation may acquire any real or personal property or interest therein by purchase, exchange, gift, grant, lease, or other means from any person or government to provide housing. Exchange of real property shall b…

[§201H-90] Additional powers. The powers conferred upon the corporation by this subpart shall be in addition and supplemental to the powers conferred by any other law, and nothing in this subpart shall be construed as limiting any powers, rights, privileges, or immunities so conf…

B. Housing Loan and Mortgage Program §201H-91 Definitions. The following words or terms as used in this subpart shall have the following meanings unless a different meaning clearly appears from the context: "Eligible borrower" means a person or family, without regard to race, cre…

[§201H-92] Owner-occupancy requirement. (a) An eligible borrower shall use the dwelling unit purchased under this subpart as the eligible borrower's permanent and primary residence. (b) From time to time, the corporation may submit a verification of owner-occupancy form to the el…

[§201H-93] Eligible borrowers. (a) The corporation shall establish the qualifications of the eligible borrower, and may consider the following: (b) The family income of an eligible borrower shall not exceed the income requirements of section 143(f) of the Internal Revenue Code of…

§201H-94 Eligible loans. (a) The corporation shall establish requirements for property financed by an eligible loan, and may consider the location, age, condition, and other characteristics of the property. (b) The corporation shall establish restrictions on the terms, maturities…

§201H-95 Eligible project loans. (a) The corporation shall establish requirements for rental housing projects to be financed by an eligible project loan, and may consider the location, age, condition, and other characteristics of the project. (b) The corporation shall establish r…

[§201H-96] Eligible improvement loans. (a) The corporation shall establish requirements for property financed by an eligible improvement loan, and may consider the location, age, condition, value, and other characteristics of the property. (b) The corporation shall establish rest…

§201H-97 Housing loan programs; procedures and requirements. (a) The corporation shall establish procedures for: (b) The corporation shall establish standards and requirements for: (c) The standards and requirements for the allocation of funds to mortgage lenders shall be adopted…

[§201H-98] Housing loan programs; general powers. (a) The corporation may make, enter into, and enforce all contracts or agreements that are necessary, convenient, or desirable in the performance of its duties in executing the housing loan programs. (b) The corporation may requir…

[§201H-99] Housing loan programs; self-supporting. The interest rate, fees, charges, premiums, and other terms of the loans made under the housing loan programs shall be at least sufficient to pay the cost of administering and maintaining the portion of the specific housing loan …