Report Title:

Housing; Rental or For-sale Developments

 

Description:

Exempts new multi-family housing condominium developments of fifty units of more from certain state and county affordable housing requirements.

 


THE SENATE

S.B. NO.

2293

TWENTY-FOURTH LEGISLATURE, 2008

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT


 

 

RELATING TO AFFORDABLE HOUSING.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


SECTION 1. Chapter 201H, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"201H- New rental or for-sale developments. (a) Any law to the contrary notwithstanding, new multi-family housing condominium developments of fifty units or more per acre on privately owned lands or lands owned temporarily by the State or any county for a period of less than twelve months as a facilitator of affordable housing shall:

(1) Be exempt from the corporation's shared appreciation equity program;

(2) Be subject to three-year occupancy requirements and transfer restrictions; and

(3) Not be subject to the ten-year occupancy requirements and transfer restrictions in sections 201H-47 and 201H-49.

(b) Notwithstanding any state or county affordable housing requirement, an affordable multi-family housing condominium development of fifty or more units per acre shall not be required to be on the same parcel of land as any required market-priced housing development; provided that:

(1) Both developments are located in the same county; and

(2) The areas of the affordable housing development and the market-priced housing development are of equal square footage."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

 

INTRODUCED BY:

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