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RES 077 Draft 01 2020-2022
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RES 077 Draft 01 2020-2022
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Entry Properties
Last modified
5/24/2021 9:53:19 AM
Creation date
3/23/2021 2:13:53 PM
Metadata
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Template:
Bill/Resolution
Bill/Resolution - Type
RES
Bill/Resolution - Council Term
2020-2022
Bill/Resolution
077
Draft
01
Introducer
Matt Kaneali'i-Kleinfelder, Council Member
Referred To
FC
Action 1
FC: Recommended adoption - 4/06/21.
Action 2
Council: Adopts Res. 77-21 & FC-29 - 4/21/21
Status
Adopted
Date To Mayor or Adoption Date
4/21/2021
Reading Number
1
Reading Date
4/21/2021
Ayes
8-Chung, David, Inaba, Kaneali'i-Kleinfelder, Kierkiewicz, Kimball, Lee Loy, Villegas
Noes
0
Absent
1-Richards
Excused
0
Document Relationships
AGE COUNCIL 2021-04-21 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
AGE FC 2021/04/06 (2020-2022)
(Related)
Path:
\Council Records\Agendas\2020-2022\Finance Committee (FC)
COM 0180.000 2020-2022
(Related)
Path:
\Council Records\Communications\2020-2022
REP FC 029 2021/04/06 2020-2022
(Related)
Path:
\Council Records\Reports\2020-2022\Finance Commitee (FC)
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• <br />HOME Investment Partnership Program (HOME) <br />Reference 24 CFR 91.220(1)(2) <br />1. A description of other forms of investment being used beyond those identified in Section 92.205 is <br />as follows: <br />The County does not use any other forms of investment except those listed in Section 92.205. <br />2. A description of the guidelines that will be used for resale or recapture of HOME funds when used <br />for homebuyer activities as required in 92.254, is as follows: <br />The County of Hawaii will recapture the total amount of HOME funds expended for a project when <br />the recipient fails to comply with the terms of its agreement with the County, or refuses to accept <br />conditions imposed by the County, HHFDC, or HUD, when the recipient sells or otherwise transfers <br />any real or personal property purchased or constructed with the HOME funds within the applicable <br />period of affordability and when the recipient ceases to use the property constructed, rehabilitated <br />and/or renovated with HOME funds for the applicable period of affordability, following the issuance <br />of final payment for the project by the County. <br />3. A' description of the guidelines for resale or recapture that ensures the affordability of units acquired <br /><, =n with HOME funds? See 24 CFR 92.254(a)(4) are as follows: <br />The County of Hawaii will recapture the total amount of HOME funds expended for a project when <br />the recipient fails to comply with the terms of its agreement with the County, or refuses to accept <br />conditions imposed by the County, HHFDC, or HUD, when the recipient sells or otherwise transfers <br />any real or personal property purchased or constructed with the HOME funds within the applicable <br />period of affordability and when the recipient ceases to use the property constructed, rehabilitated <br />and/or renovated with HOME funds for the applicable period of affordability, following the issuance <br />of final payment for the project by the County. <br />4. Plans for using HOME funds to refinance existing debt secured by multifamily housing that is <br />rehabilitated with HOME funds along with a description of the refinancing guidelines required that <br />will be used under 24 CFR 92.206(b), are as follows: <br />Please defer to the State of Hawaii Consolidated Plan. <br />Annual Action Plan <br />2021 <br />WAB Control No: 2506-0117 (exp. 09/301•'2021) <br />41. <br />
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