HOUSE OF REPRESENTATIVES

H.B. NO.

274

TWENTY-EIGHTH LEGISLATURE, 2015

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to the hawaii public housing authority.

 

 

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

 


PART I

     SECTION 1.  The legislature finds that affordable housing is a serious concern for many Hawaii residents.  According to the Hawaii Housing Planning Study, 2011, up to fifty thousand housing units will need to be built by 2016 to meet the new demand generated by changing demographics and economic conditions.  Failure to produce sufficient units for low- and moderate-income households will result in unmet demand in these market segments.

     The purpose of this Act is to create needed housing by authorizing the issuance of general obligation bonds to finance various capital improvement projects of the Hawaii public housing authority to address Hawaii's housing shortage.

PART II

     SECTION 2.  The director of finance is authorized to issue general obligation bonds in the sum of $10,000,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2015-2016 for the redevelopment of the Hawaii public housing authority's administrative offices located on North School street and the design and construction of public housing and affordable rental housing at the same location.

PART III

     SECTION 3.  The director of finance is authorized to issue general obligation bonds in the sum of $6,000,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2015-2016 for the redevelopment of the Hawaii public housing authority's

Kuhio homes and Kuhio park terrace low rise properties.

PART IV

     SECTION 4.  The director of finance is authorized to issue general obligation bonds in the sum of $20,000,000 or so much thereof as may be necessary and the same sum or so much thereof as may be necessary is appropriated for fiscal year 2015-2016 to leverage funds for the redevelopment of the Hawaii public housing authority's Mayor Wright homes property; provided that no funds appropriated under this part shall be expended unless matched dollar-for-dollar with private or federal funds.

PART V

     SECTION 5.  The sums appropriated under sections 2, 3, and 4 of this Act shall be expended by the Hawaii public housing authority for the purposes of this Act.

     SECTION 6.  The appropriations made for the capital improvement projects authorized by sections 2, 3, and 4 of this Act shall not lapse at the end of the fiscal biennium for which the appropriation is made; provided that all moneys from the appropriation unencumbered as of June 30, 2018, shall lapse as of that date.

SECTION 7.  This Act shall take effect on July 1, 2015.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Hawaii Public Housing Authority; General Obligation Bonds; Affordable Housing

 

Description:

Authorizes the issuance of general obligation bonds for the redevelopment of HPHA administrative offices and the creation of public housing and affordable rental housing, and the redevelopment of Kuhio Homes, Kuhio Park Terrace Low Rise, and Mayor Wright Homes properties.

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.