Title 13, Planning And Economic Development

[§201H-105] Advance commitments program. (a) The corporation may contract with a mortgage lender for the advance commitment to purchase eligible loans, eligible improvement loans, or eligible project loans. (b) The contract may contain provisions as determined by the corporation …

[§201H-106] Loan funding programs. (a) The corporation may contract with mortgage lenders to fund eligible loans and eligible improvement loans and may directly make or contract with mortgage lenders to fund eligible project loans. (b) Any contract in subsection (a) with a mortga…

[§201H-107] Loans; service and custody. The corporation may contract for the service and custody of its loans. The contract may provide for the payment of fees or charges for the services rendered; provided that the fees or charges shall not exceed the usual, customary, and reaso…

[§201H-108] Loans; sale, pledge, or assignment. (a) Subject to any agreements with the holders of its revenue bonds, the corporation may sell its loans at public or private sale at a price and upon terms and conditions as it determines. (b) Subject to any agreements with [the] ho…

[§201H-109] Loans; insurance and guarantees. The corporation may procure insurance or guarantees against any default of its loans, in amounts and from insurers or guarantors, as it deems necessary or desirable. [L 2006, c 180, pt of §4]

[§201H-11] Agents, including corporations. The corporation may exercise any or all of the powers conferred upon it, either generally or with respect to any specific housing project through an agent that it may designate, including any corporation that is formed under the laws of …

§201H-110 Loans; default. The corporation may: (1) Renegotiate, refinance, or foreclose any loan in default; (2) Waive any default or consent to the modification of the terms of any loan or security agreement; (3) Commence any action to protect or enforce any right conferred upon…

§201H-12 Development of property. (a) The corporation, in its own behalf or on behalf of any federal, state, or county agency, may: (1) Clear, improve, and rehabilitate property; (2) Plan, develop, construct, and finance housing projects, including mixed-use developments; and (3)…

[§201H-120] 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 con…

C. Rental Assistance Program [§201H-121] Purpose; findings and determinations. The legislature finds and declares that the health and general welfare of the people of this State require that the people of this State have safe and sanitary rental housing accommodations available a…

[§201H-122] Definitions. The following terms as used in this subpart shall have the following meanings unless a different meaning clearly appears from the context: "Eligible project" means a rental housing project that: (1) Is financed by the corporation pursuant to subpart B or …

[§201H-123] Rental assistance revolving fund. (a) There is created a rental assistance revolving fund to be administered by the corporation. (b) The rental assistance revolving fund may include sums made available from any government program or grant, from private grants or contr…

[§201H-124] Rental assistance contracts. (a) The corporation may enter into a rental assistance contract and a regulatory agreement with the owner of an eligible project, when the owner of an eligible project is other than the corporation. (b) Prior to the execution of a rental a…

[§201H-125] Rental assistance program. (a) Prior to the execution of a rental assistance contract and annually thereafter, the owner shall submit a proposed rental schedule to the corporation for approval. The schedule shall list every rental unit in the project and shall designa…

[§201H-126] Benefits of program not exclusive. Nothing in this subpart shall be construed to prohibit, with respect to an eligible project, the operation of the rental assistance program in conjunction with other state or federal programs including the state rent supplements prov…

[§201H-13] Eminent domain, exchange or use of public property. [(a)] The corporation may acquire any real property, including fixtures and improvements, or interest therein: through voluntary negotiation; through exchange of land in accordance with section 171-50, provided that t…

§201H-14 Contracts with the federal government. (a) The corporation may: (1) Borrow money or accept grants from the federal government for or in aid of any housing project that the corporation is authorized to undertake; (2) Take over any land acquired by the federal government f…

[§201H-140] 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 con…

D. Taxable Mortgage Securities Programs [§201H-141] Definitions. Whenever used in this subpart, unless the context otherwise requires: "Eligible borrower" means: (1) Any person or family, without regard to race, creed, national origin, or sex, who: (A) Is a citizen of the United …

[§201H-142] Housing loan programs; authorization. (a) The corporation may establish under this subpart one or more eligible loan programs. (b) The corporation may invest in, make, purchase, take assignments of, or otherwise acquire or make commitments to invest in, make, purchase…

[§201H-143] Housing loan programs; procedures and requirements. (a) The corporation may establish procedures and requirements for: (1) The purchase of loans from mortgage lenders by auction, invitation of tender, advance commitment, or other negotiation; (2) The making of loans t…

[§201H-144] Housing loan programs; general powers. (a) The corporation may make, enter into, and enforce all contracts or agreements which are necessary, convenient, or desirable for the purpose of the performance of its powers under this subpart. (b) The corporation may establis…

[§201H-15] Administration of low-income housing credit allowed under section 235-110.8. (a) The corporation is designated as a state housing credit agency to carry out section 42(h) (with respect to limitation on aggregate credit allowable with respect to a project located in a s…

[§201H-150] 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 con…

E. State Mortgage Guarantee Program [§201H-151] State mortgage guarantee. (a) The corporation may guarantee: (1) Up to the top twenty-five per cent of the principal balance of real property mortgage loans for the purchase of qualified single-family or multifamily dwelling units; …

[§201H-152] Mortgage guarantee agreements. (a) To induce appropriate officials of any agency or instrumentality of the United States to commit to insure and to insure mortgages under the provisions of the United States Housing Act of 1937, as amended, the corporation may enter in…

[§201H-16] Administration of federal programs. (a) The corporation may carry out federal programs designated to be carried out by a housing finance or housing development entity. (b) The corporation shall adopt necessary rules in accordance with chapter 91, including the establis…

[§201H-160] 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 con…

F. Downpayment Loan Assistance Program §201H-161 Downpayment loans. (a) The corporation may make downpayment loans, either directly or through a nonprofit organization as defined in section 454F-1, to eligible borrowers who qualify for loans under section 201H-162. The downpaymen…

§201H-162 Qualifications for downpayment loans. (a) No person shall be qualified for a downpayment loan unless the person: (1) Is a citizen of the United States or a resident alien; (2) Is at least eighteen years of age; (3) Is a bona fide resident of the State; (4) Will physical…

[§201H-163] Restrictions on borrower. Every loan made under this subpart shall be subject to the following conditions: (1) The borrower shall expend no portion of the borrower's downpayment loan for purposes other than to make a downpayment for the purchase of a residential prope…

[§201H-163.5] Downpayment loan assistance program; fees. The corporation may establish, revise, charge, and collect fees, premiums, and charges as necessary, reasonable, or convenient, for its downpayment loan assistance program. The fees, premiums, and charges shall be deposited…

[§201H-164] Default. If the borrower defaults in the payment of any installment of principal or interest of the downpayment loan, the corporation or mortgage lender shall take all necessary action to collect the delinquent amounts and may take all actions generally allowed holder…

[§201H-17] Federal funds outside of state treasury. Notwithstanding chapter 38, the corporation may establish and manage federal funds outside of the state treasury to be used for federal housing programs. The corporation shall invest those funds in permitted investments in accor…

[§201H-170] 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 con…

G. Homebuyers' Club Program §201H-171 Homebuyers' club program. (a) The corporation may establish a homebuyers' club program for participants who are desirous of purchasing a home and who have adequate incomes but who lack sufficient funds for the downpayment and closing costs. T…

[§201H-18] Public works contracts. The corporation may make, execute, and carry out contracts for, or in connection with, any housing project in the manner provided under chapter 103D and section 103-53; provided that with regard to the contracts, the term "officers", as used in …

[§201H-180] 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 con…

H. Rent-to-Own Program [§201H-181] Rent-to-own program. (a) The corporation may establish a rent-to-own program under which dwelling units that are for sale may be rented to program participants. Under this program, the corporation shall credit a portion of the rent received towa…

[§201H-19] Remedies of an obligee: mandamus; injunction; possessory action; receiver; accounting; etc. An obligee of the corporation shall have the right, in addition to all other rights that may be conferred on the obligee subject only to any contractual restrictions binding upo…

[§201H-190] 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 con…

I. Dwelling Unit Revolving Fund §201H-191 Dwelling unit revolving fund. (a) There is created a dwelling unit revolving fund. The funds appropriated for the purpose of the dwelling unit revolving fund and all moneys received or collected by the corporation for the purpose of the r…

§201H-191.5 Regional state infrastructure subaccounts. (a) The corporation, upon request by a county, may establish and operate a regional state infrastructure subaccount within the dwelling unit revolving fund established pursuant to section 201H-191 for the benefit of the housi…

§201H-2 Hawaii housing finance and development corporation; establishment, staff. (a) There is established the Hawaii housing finance and development corporation to be placed within the department of business, economic development, and tourism for administrative purposes only. Th…

[§201H-20] Subordination of mortgage to agreement with government. The corporation may agree in any mortgage made by it that the mortgage shall be subordinate to a contract for the supervision by a governmental agency of the operation and maintenance of the mortgaged property and…

[§201H-200] 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 con…