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COUNTY OF HAWAI`I •• �,.. Y''a= STATE OF HAWAI`I <br /> . 7TE GF•H/�� <br /> BILL NO. 128 <br /> (DRAFT 2) <br /> ORDINANCE NO. 24 .1 -_ <br /> • <br /> AN ORDINANCE AMENDING CHAPTER 11, ARTICLE 1, SECTION 11-15, OF THE <br /> HAWAI`I COUNTY CODE 1983 (2016 EDITION,AS AMENDED), RELATING TO <br /> TRANSFER OF EXCESS AFFORDABLE HOUSING CREDITS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Chapter 11, article 1, section 11-15, of the Hawai`i County Code 1983 <br /> (2016 Edition, as amended), is amended by amending subsection(d) to read as follows: <br /> "(d) After approval of the excess credits, the developer may transfer the excess credits to any <br /> other project that is within the distance established in section 11-5(a)(3), to fulfill part or <br /> all of the affordable housing requirements of the other project. The developer shall <br /> obtain approval for the transfer of excess credits from the housing administrator before <br /> initiating any such transfer. The housingadministrator shall validate any such transfer of <br /> excess credits upon completion of the transaction. Excess credits that are transferred in <br /> violation of this section are voidable at the discretion of the County." <br /> SECTION 2. New material is underscored. In printing this ordinance, the underscoring <br /> need not be included. <br /> SECTION 3. Severability. If any provision of this ordinance, or the application thereof <br /> to any-person or circumstance, is held invalid,the invalidity does not affect other provisions or <br /> applications of the ordinance which can be given effect without the invalid provision or <br /> application, and to this end the provisions of this ordinance are severable. <br />