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RES 307 Draft 01 2024-2026
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RES 307 Draft 01 2024-2026
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Last modified
10/3/2025 1:13:54 PM
Creation date
9/5/2025 11:18:35 AM
Metadata
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Template:
Bill/Resolution
Bill/Resolution - Type
RES
Bill/Resolution - Council Term
2024-2026
Bill/Resolution
307
Draft
01
Introducer
Heather L. Kimball, Council Member
Referred To
COUNCIL
Action 1
Council: Adopts Res. 307-25 - 09/17/25
Status
Adopted
Date To Mayor or Adoption Date
9/17/2025
Reading Number
1
Reading Date
9/17/2025
Ayes
9-Galimba, Hustace, Inaba, Kagiwada, Kaneali'i-Kleinfelder, Kierkiewicz, Kimball, Onishi, and Villegas
Noes
0
Absent
0
Excused
0
Document Relationships
AGE COUNCIL 2025-09-17 2024-2026
(Related To)
Path:
\Council Records\Agendas\2024-2026\Council
COM 0490.000 2024-2026
(Related)
Path:
\Council Records\Communications\2024-2026
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(2) Mixed -income affordable for -sale housing projects or units in a mixed -income <br />affordable for -sale housing project wherein all of the available units are reserved for <br />persons and families having incomes at or below one hundred per cent of the median <br />family income. <br />(c) Moneys in the fund shall be used to provide loans for <br />the development, pre -development, construction, acquisition, <br />preservation, and substantial rehabilitation of affordable for - <br />sale housing units. Uses of moneys in the fund may include but <br />are not limited to planning, design, and land acquisition, <br />including the costs of options, agreements of sale, and down <br />payments; equity financing as matching funds for nonprofit <br />community development financial institutions; or other housing <br />development services or activities as provided in rules adopted <br />by the corporation pursuant to chapter 91. The rules may <br />provide that money from the fund shall be leveraged with other <br />financial resources to the extent possible. <br />(d) The fund may include [ suers ] <br />kD Sums appropriated by the legislature[-,pnvate]; <br />M Private contributions[-,preeeeds]; <br />Proceeds from repayment of loans[, �„-ter]; <br />Interests and other returns[,]; <br />f5� Conveyance taxes collected under chapter 247 and allocated to the affordable <br />homeownership revolvingpursuant to section 247-7; and [ems] <br />(6) Moneys from other sources. <br />(e) An amount from the fund, to be set by the corporation <br />and authorized by the legislature, may be used for <br />
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