Hawaii Revised Statutes 201h. Hawaii Housing Finance and Development Corporation
PART I. GENERAL PROVISIONS
- 201h-1 Definitions.
Part I designation added by revisor pursuant to §23G-15. §201H-1 Definitions. The following terms, wherever used or referred to in this chapter, shall have...
- 201h-2 Hawaii Housing Finance and Development Corporation; Establishment, Staff.
Part I designation added by revisor pursuant to §23G-15. §201H-2 Hawaii housing finance and development corporation; establishment, staff. (a) There is established the Hawaii...
- 201h-3 Board; Establishment, Functions, Duties.
Part I designation added by revisor pursuant to §23G-15. §201H-3 Board; establishment, functions, duties. (a) There is created a board of directors of the...
- 201h-4 General Powers.
Part I designation added by revisor pursuant to §23G-15. §201H-4 General powers. (a) The corporation may: (1) Sue and be sued; (2) Have a...
- 201h-4.5 Urban Gardening Programs.
Part I designation added by revisor pursuant to §23G-15. [§201H-4.5] Urban gardening programs. Notwithstanding any other provision of law, the corporation may develop programs...
- 201h-5 Fair Housing Law to Apply.
Part I designation added by revisor pursuant to §23G-15. [§201H-5] Fair housing law to apply. Notwithstanding any law to the contrary, the provisions of...
- 201h-6 Housing Advocacy and Information System.
Part I designation added by revisor pursuant to §23G-15. §201H-6 Housing advocacy and information system. (a) The corporation, with the assistance of other agencies...
- 201h-7 Housing Research.
Part I designation added by revisor pursuant to §23G-15. §201H-7 Housing research. (a) The corporation may study the plans of any government regarding the...
- 201h-8 Housing Counseling.
Part I designation added by revisor pursuant to §23G-15. [§201H-8] Housing counseling. The corporation may provide the following services for the programs it administers:...
- 201h-9 Acquisition, Use, and Disposition of Property.
Part I designation added by revisor pursuant to §23G-15. [§201H-9] Acquisition, use, and disposition of property. (a) The corporation may acquire any real or...
- 201h-10 Cooperative Agreements With Other Governmental Agencies.
Part I designation added by revisor pursuant to §23G-15. §201H-10 Cooperative agreements with other governmental agencies. (a) The corporation may: (1) Obtain the aid...
- 201h-11 Agents, Including Corporations.
Part I designation added by revisor pursuant to §23G-15. [§201H-11] Agents, including corporations. The corporation may exercise any or all of the powers conferred...
- 201h-12 Development of Property.
Part I designation added by revisor pursuant to §23G-15. §201H-12 Development of property. (a) The corporation, in its own behalf or on behalf of...
- 201h-13 Eminent Domain, Exchange or Use of Public Property.
Part I designation added by revisor pursuant to §23G-15. [§201H-13] Eminent domain, exchange or use of public property. The corporation may acquire any real...
- 201h-14 Contracts With the Federal Government.
Part I designation added by revisor pursuant to §23G-15. §201H-14 Contracts with the federal government. (a) The corporation may: (1) Borrow money or accept...
- 201h-15 Administration of Low-Income Housing Credit Allowed Under Section 235-110.8.
Part I designation added by revisor pursuant to §23G-15. [§201H-15] Administration of low-income housing credit allowed under section 235-110.8. (a) The corporation is designated...
- 201h-16 Administration of Federal Programs.
Part I designation added by revisor pursuant to §23G-15. [§201H-16] Administration of federal programs. (a) The corporation may carry out federal programs designated to...
- 201h-17 Federal Funds Outside of State Treasury.
Part I designation added by revisor pursuant to §23G-15. [§201H-17] Federal funds outside of state treasury. Notwithstanding chapter 38, the corporation may establish and...
- 201h-18 Public Works Contracts.
Part I designation added by revisor pursuant to §23G-15. [§201H-18] Public works contracts. The corporation may make, execute, and carry out contracts for, or...
- 201h-19 Remedies of an Obligee: Mandamus; Injunction; Possessory Action; Receiver; Accounting; Etc.
Part I designation added by revisor pursuant to §23G-15. [§201H-19] Remedies of an obligee: mandamus; injunction; possessory action; receiver; accounting; etc. An obligee of...
- 201h-20 Subordination of Mortgage to Agreement With Government.
Part I designation added by revisor pursuant to §23G-15. [§201H-20] Subordination of mortgage to agreement with government. The corporation may agree in any mortgage...
- 201h-21 Duty to Make Reports.
Part I designation added by revisor pursuant to §23G-15. [§201H-21] Duty to make reports. Except as otherwise provided by law, the corporation shall: (1)...
- 201h-22 Quitclaim Deeds.
Part I designation added by revisor pursuant to §23G-15. [§201H-22] Quitclaim deeds. Unless otherwise provided by law, the corporation shall issue quitclaim deeds and...
- 201h-23 For-Sale Developments.
Part I designation added by revisor pursuant to §23G-15. [§201H-23] For-sale developments. Any law to the contrary notwithstanding, new multifamily for-sale housing condominium developments...
PART II. HOUSING DEVELOPMENT PROGRAMS
- 201h-31 Criteria.
In administering this chapter and other laws of the State applicable to the supplying of housing or the assistance in obtaining housing, the corporation shall...
- 201h-32 Definitions.
The following terms, wherever used or referred to in this part, shall have the following respective meanings unless a different meaning clearly appears from...
- 201h-33 Powers and Duties, Generally.
(a) The corporation may develop fee simple or leasehold property, construct dwelling units thereon, including condominiums, planned units, and cluster developments, and sell, lease,...
- 201h-34 Additional Powers; Development.
Notwithstanding section 103-7, but with the approval of the governor, the corporation may enter into and carry out agreements and undertake projects or participate in...
- 201h-34.5 Authority to Modify and Amend Development Agreements With Eligible Developers.
The corporation is authorized to amend, delete, restate, and otherwise modify the terms, conditions, plans, specifications, and all other matters relating, directly or indirectly,...
- 201h-35 Bond Financing.
The director of finance may issue general obligation bonds and short-term project notes of the State in an aggregate amount not to exceed $105,000,000...
- 201h-36 Exemption From General Excise Taxes.
(a) In accordance with section 237-29, the corporation may approve and certify for exemption from general excise taxes any qualified person or firm involved with...
- 201h-37 Exemption From Tax on Income and Obligations.
Income earned and obligations issued by a nonprofit entity determined to constitute a "public housing agency" pursuant to section 3(6) of the United States...
- 201h-38 Housing Development; Exemption From Statutes, Ordinances, Charter Provisions, and Rules.
(a) The corporation may develop on behalf of the State or with an eligible developer, or may assist under a government assistance program in the...
- 201h-39 Starter Homes; Design Standards; Applicant Eligibility; Authority to Incorporate Starter Homes Into Housing Projects of the Corporation.
(a) The corporation shall adopt rules in accordance with chapter 91 to establish design and construction standards for starter homes configured to expand incrementally...
- 201h-40 Housing Projects; Construction and Sponsorship.
(a) The corporation, on behalf of the State or with eligible developers and contractors, shall develop real property and construct dwelling units thereon; provided...
- 201h-41 Independent Development of Projects.
(a) In any county, the corporation may develop or may enter into agreements to develop housing projects with an eligible developer if in the...
- 201h-42 Private Development of Projects.
(a) The corporation may enter into contracts with any eligible bidder to provide for the construction of a housing project or projects. Each contract...
- 201h-43 Interim Financing of Projects.
(a) The corporation may provide interim construction loans to eligible developers. In addition to the rate of interest charged on interim loans, the corporation...
- 201h-44 Commercial, Industrial, and Other Uses.
(a) In connection with the development of any dwelling units under this chapter, the corporation may also develop commercial, industrial, and other properties if...
- 201h-45 Sale; Mortgage, Agreement of Sale, and Other Instruments.
(a) The corporation shall sell completed dwelling units or dwelling units that are substantially completed and habitable, developed and constructed hereunder, to qualified residents...
- 201h-46 Co-Mortgagor.
For purposes of qualifying for a mortgage loan to finance the purchase of a dwelling unit under this part, a "qualified resident" as defined...
- 201h-47 Real Property; Restrictions on Transfer; Waiver of Restrictions.
(a) The following restrictions shall apply to the transfer of real property developed and sold under this chapter, whether in fee simple or leasehold:...
- 201h-48 Exception of Current Owners in Corporation Projects.
The corporation may allow a person who is a current owner of a dwelling unit in a multifamily housing project sponsored by the corporation to...
- 201h-49 Real Property; Restrictions on Use.
(a) Real property purchased under this chapter shall be occupied by the purchaser at all times during the ten-year restriction period set forth in...
- 201h-50 Restrictions on Use, Sale, and Transfer of Real Property; Effect of Amendment or Repeal.
(a) Restrictions on the use, sale, and transfer of real property shall be made as uniform as possible in application to purchasers of all...
- 201h-51 Corporation's Right to Repurchase or Rent Real Property; Authority to Seek Recovery.
(a) Notwithstanding any provisions to the contrary, during the period in which the restrictions in section 201H-47 are in effect, the following provisions shall...
- 201h-52 Nonprofit Organizations and Government Agencies.
(a) The corporation may retain dwelling units in a project to the extent it determines necessary and appropriate, for sale, lease, or rental to...
- 201h-53 Rate of Wages for Laborers and Mechanics.
The corporation shall require an eligible bidder or eligible developer of a housing project developed under this part to comply with the requirements of...
- 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...
- 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...
- 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...
- 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...
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...
- 201h-72 Issuance of Bonds for the Development of Infrastructure.
Without limiting section 201H-71, the corporation, pursuant to and in accordance with this subpart or section 46-80.1(a), is authorized to issue bonds for the...
- 201h-73 Issuance of Bonds for the Preservation of Low-Income Housing Projects.
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...
- 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...
- 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...
- 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...
- 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...
- 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: (1) Any securities by which funds deposited 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...
- 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...
- 201h-81 Repealed.
L 2014, c 132, §4]
- 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...
- 201h-85 Pineapple Workers and Retirees Housing Assistance Fund; Established.
(a) There is established in the state treasury the pineapple workers and retirees housing assistance fund to provide mortgage payments or rent subsidies for...
- 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...
- 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...
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:...
- 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...
- 201h-93 Eligible Borrowers.
(a) The corporation shall establish the qualifications of the eligible borrower, and may consider the following: (1) The proportion of income spent for shelter;...
- 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...
- 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,...
- 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...
- 201h-97 Housing Loan Programs; Procedures and Requirements.
(a) The corporation shall establish procedures for: (1) The making of advance commitments to purchase and the purchasing of eligible loans, eligible improvement loans,...
- 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...
- 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...
- 201h-100 Housing Loan Programs; Fees.
The corporation may establish, revise, charge, and collect fees, premiums, and charges as necessary, reasonable, or convenient, for its housing loan programs. The fees,...
- 201h-101 Housing Loan Programs; Evidence of Eligible Loan, Eligible Improvement Loan, or Eligible Project Loan.
(a) Each mortgage lender who participates in any housing loan program shall submit evidence, as deemed satisfactory by the corporation, that eligible loans, eligible...
- 201h-102 Repealed.
L 2013, c 135, §5.
- 201h-103 Repealed.
L 2013, c 135, §6.
- 201h-104 Repealed.
L 2013, c 135, §7.
- 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....
- 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...
- 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...
- 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...
- 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...
- 201h-110 Loans; Default.
The corporation may renegotiate, refinance, or foreclose any loan in default. The corporation may waive any default or consent to the modification of the...
- 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...
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...
- 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"...
- 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...
- 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...
- 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...
- 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...
- 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...
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...
- 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...
- 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,...
- 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...
- 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...
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...
- 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...
- 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...
F. Downpayment Loan Program
- 201h-161 Downpayment Loans.
(a) The corporation may make direct downpayment loans to eligible borrowers who qualify for loans under section 201H-162. The downpayment loan to any one...
- 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...
- 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...
- 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...
- 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...
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...
- 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...
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...
- 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...
I. Dwelling Unit Revolving Fund
- 201h-191 Dwelling Unit Revolving Fund.
There is created a dwelling unit revolving fund. The funds appropriated for the purpose of the dwelling unit revolving fund and all moneys received...
- 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...
J. Rental Housing Revolving Fund
- 201h-201 Definitions.
Subpart heading amended by L 2015, c 237, §23. §201H-201 Definitions. As used in this subpart, unless a different meaning is clearly required by...
- 201h-202 Rental Housing Revolving Fund.
Subpart heading amended by L 2015, c 237, §23. §201H-202 Rental housing revolving fund. (a) There is established the rental housing revolving fund to...
- 201h-203 Eligible Applicants for Funds.
Subpart heading amended by L 2015, c 237, §23. [§201H-203] Eligible applicants for funds. Eligible applicants for funds shall include nonprofit and for-profit organizations,...
- 201h-204 Eligible Projects.
Subpart heading amended by L 2015, c 237, §23. [§201H-204] Eligible projects. (a) Activities eligible for assistance from the fund shall include but not...
- 201h-210 Additional Powers.
Subpart heading amended by L 2015, c 237, §23. [§201H-210] Additional powers. The powers conferred upon the corporation by this subpart shall be in...
PART IV. EXPENDITURES OF REVOLVING FUNDS UNDER
THE CORPORATION EXEMPT FROM APPROPRIATION AND ALLOTMENT
Last modified: October 27, 2016