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_ -a-:o3: ~c>on ~~nF .~oa <br /> ~ <br /> ~ ~s liCl' 2 1 1991 <br /> LAND USE RfiSEARCI-F <br /> FOUNDATSON OF HAWAII <br /> 700 Bishop Street <br /> Suite 7928, Am.`ac Bldg. M <br /> Honolulu, Hawaii 96813 <br /> Phcne 5214717 <br /> Fax 536-0132 <br /> RECEIVED <br /> October Z1, 1997 nom`-'-"'-- By---~ <br /> The Honorable John Santangelo, Chair - ~ntY Council <br /> Hawaii County Hcusirg Agency <br /> 2~ Aupuri Street <br /> Hilo, Hawaii 96720 <br /> )tE: Affordable Honsing Folicy for the Coursty of Hawaii <br /> Dear Chair Santangelo and Agency Members' <br /> We have reviewed the October 13, 1997 draF of "_A Si11 Relating to an Affordable Housing Policy <br /> for the County cf$awaii" and fully support this effort to revise the County of Hawaii's affordable <br /> housing policy. This bili represents as effort to match affordable housing requirements to today's <br /> economic real.iies. <br /> Beginning in 1988, the State Land L'se Cemm;ssion started to impose stringent requirements for <br /> affordable housing when re-designating lands from agricuhure to urban. ?'he previously accepted ten <br /> percent requirement increased, and up to 60 percent of a development was required to be affordable. <br /> Soon afrerward, the counties began to impose similar affordable housing requirements on <br /> developments seeking county zoning approvals. <br /> Housing ccrditions have changed drastically since the late 1980s and early 1990s. Today, throughout <br /> Hawaii, developers hold a standing inventory of affordable homes that they cannot sell. L~ many <br /> instances market price uni>.s are at or near the price of affozdable units and do not have any of the <br /> restrctive corditiors that are placed on £~e buyers of affordable units. T.`.e limited market of <br /> quali5ed buyers in the affordable range further 1'=mi*s the need for extensive affordable housing <br /> requirements of the past. When develepers cannot seiI their affordable ur_its they often times cannot <br /> proceed with their market rite homes. Overall economic development is then stifled when restricted <br /> sales place a damper on residential cons!ructioa. <br /> For these reasons we support the County of Hawaii's proposal to revise its affozdable housing policy. <br /> Sincerely, <br /> <br /> `w-v , <br /> Dan Davidson, <br /> Executive Director <br /> t:onrcP. Dig. <br /> Fl1® x.. H~/HSG <br /> ttdt, Presented e.ouwu~ <br /> fret. Date ~ 3 199 <br /> <br />