Communication No. 2018-08- KCDP Amendments Subcommittee Report

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Communication No. 2018-08 e. Number on waiting list for government housing. Objective HSG-3: Increase Buying and Renting Capacity of Target Groups. To assist the lower income groups in obtaining decent housing and to enhance the opportunities of first-time homebuyers. Policy HSG-3.1: Homebuyer Education and Counseling. The Kona Housing Non-Profit will should have the authority to supplement the County’s homebuyer education and counseling program, ensuring appropriate and meaningful outreach to educate prospective first-time Kona homebuyers on strategies to save money, finance mortgages (including the potential rental income of an accessory unit), rehabilitate credit, and other pertinent subjects. Policy HSG-3.2: First-Time Homebuyers. The Kona Housing Non-Profit (see Policy HSG-3.4 below) will should have the authority to finance programs to assist first-time Kona homebuyers, thus supplementing available county, state, or federal programs. Policy HSG-3.3: Low-Income Renters. The Kona Housing Non-Profit will should have the authority to finance a program to supplement the Section 8 subsidy to pay security deposits, or provide other assistance, in order to minimize the number of returned vouchers. Policy HSG-3.4: Employer-Assisted Rental. The Kona Housing Non-Profit will should have the authority to assist employers who provide rental assistance to their employees for onsite housing or housing within five (5) miles of the place of work by locating rental units and expanding recruitment advertisements. Objective HSG-4: Build More Units. To build more units that offer a variety of housing types, tenures, and affordability. Policy HSG-4.1: Public Sector and Non-profits Primarily Responsible to Meet Needs of Lower-Income and Middle-Income Renters. Because affordable rents cannot usually fully pay for the actual costs to develop a rental project1, the private market cannot be relied upon to deliver these types of projects. Therefore, public housing projects and projects using public lands or financing shallshould devote a significant percentage of the residential units to meeting the needs of middle-income renters (50 to 100% of median income) and lower-income households (less than 50% of median). Policy HSG-4.2: Workforce Housing. Because of the higher market sales prices in Kona, relative to the other parts of the island, even the workforce group (up to 180% of median income) has difficulty finding housing close to work. Therefore, a developer of a housing project in Kona may earn an affordable housing credit of 0.25 for every completed for-sale dwelling unit affordable for qualified households earning 120-180% 1 See David Paul Rosen & Associates, Kona Affordable Housing Economic Analysis, p. ES-2, -6, -8. Communication No. 2018-08