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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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administrative expenses incurred by the corporation in <br />administering the fund; provided that moneys in the fund shall <br />not be used to finance day-to-day administrative expenses of the <br />projects allotted moneys from the fund. <br />(f) The corporation may provide loans under this section <br />as provided in rules adopted by the corporation pursuant to <br />chapter 91. <br />(g) The corporation may contract with nonprofit community <br />development financial institutions to fund loans under this <br />section. The corporation may contract for the service and <br />custody of its loans. <br />(h) The corporation may establish, revise, charge, and <br />collect a reasonable service fee, as necessary, in connection <br />with its loans, services, and approvals under this part. The <br />fees shall be deposited into the affordable homeownership <br />revolving fund. <br />(i) Counties may apply for matching funds from the fund; <br />provided that prior to applying for any matching funds, the <br />counties shall have an approved comprehensive affordable housing <br />plan that: <br />Identifies available lands for affordable housing; <br />Q Identifies infrastructure needs and availability; and <br />M Requires housing projects developed using moneys from the fund to be subject <br />to an affordability clause that keeps the property affordable in perpetuity, also known <br />as a "deed -restricted property <br />
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