HOUSE OF REPRESENTATIVES |
H.C.R. NO. |
123 |
TWENTY-SECOND LEGISLATURE, 2004 |
H.D. 1 |
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STATE OF HAWAII |
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RESOLUTION
REQUESTING THE hOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF HAWAII TO MAKE FINANCING TOOLS AVAILABLE TO assist private developers in purchasing rental properties.
WHEREAS, the City and County of Honolulu is contemplating selling hundreds of apartments in 12 buildings at Chinatown Gateway Plaza, Harbor Village, Marin Tower, West Loch Village, the old Bachelor's Quarters in Ewa, Chinatown Manor, Kanoa Apartments, Kulana Nani Apartments, Manoa Gardens Elderly, Pauahi Hale, Westlake Apartments, and Winston Hale; and
WHEREAS, these apartments provide shelter to thousands of low-income tenants who have depended on these apartments for many years; and
WHEREAS, the current buyers' housing market has resulted in the sale of many rental units statewide, as well as a considerable increase in rent for the remaining rentals; and
WHEREAS, plans for the sale of the 12 apartment buildings have caused undue anxiety and stress on the tenants of the 12 apartment buildings; and
WHEREAS, although the City and County of Honolulu is planning to sell the apartments to its current tenants, a more logical plan is to continue the use of the buildings as rentals to ensure that all of the tenants will be provided for; and
WHEREAS, the Housing and Community Development Corporation of Hawaii (HCDCH) has a variety of financing tools that could assist private developers in purchasing the rental properties; now, therefore,
BE IT RESOLVED by the House of Representatives of the Twenty-second Legislature of the State of Hawaii, Regular Session of 2004, the Senate concurring, that HCDCH is requested to make financing tools available to assist private developers in purchasing the rental properties; and
BE IT FURTHER RESOLVED that HCDCH is encouraged to give priority in financial assistance to nonprofit, low-income housing developers before for-profit developers; and
BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Chairperson of the Housing and Community Development Corporation of Hawaii, Mayor of the City and County of Honolulu, Chairperson of the Honolulu City Council, and City Managing Director.
Report Title:
HCDCH; Rental Housing