HomeMy WebLinkAboutBIL 152 Draft 01 2020-2022AN ORDINANCE AMENDING CHAPTER 2, ARTICLE 13, DIVISION 3, SECTION 2-75 OF THE HAWAIʻI COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO THE COUNTY HOUSING PROGRAM REVOLVING FUND.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI‘I:
SECTION 1. Chapter 2, article 13, division 3, section 2-75, of the Hawai‘i County Code 1983 (2016 Edition, as amended), is amended by amending section 2-75 to read as follows:
“Section 2-75. [Use of revolving fund] Use of the County housing program revolving fund.
[The revolving fund shall be utilized to pay for items such as: (a) the development of housing, and (b) to exercise the buy-back option running in favor of the County contained in any
conveyance document and to pay the costs of maintaining, repairing, renting, or reselling units purchased by the County pursuant thereto. Any interest earned by the fund and any advanced
costs that are recovered from housing project funds shall be returned to the revolving fund.]
(a) The County housing program revolving fund shall be utilized for the following:
(1) Planning, design, and development of affordable housing units either by the County or by non-profit housing development partners;
(2) Exercising the buy-back option running in favor of the County contained in any conveyance document and to pay the costs of maintaining, repairing, renting, or reselling units purchased
by the County pursuant thereto;
(3) Acquisition of vacant land for use as affordable housing, that may be developed by the County or with non-profit partners;
(4) Acquisition of existing structures for use as affordable housing;
(5) Rehabilitation of existing structures currently in use as affordable housing or acquired by the County to use for affordable housing;
(6) Infrastructure to support affordable housing development;
(7) Subsidies, grants, and loans to support very low and lower-income households with upfront costs for rental units or mortgage financing;
(8) Subsidies, grants, and loans to support very low and lower-income households with rental assistance or mortgage payments to prevent houselessness or foreclosure; or
(9) Purchasing of deed restrictions on private properties limiting resale to qualified buyers at resale values for lower-income and moderate income households in perpetuity as established
by the office of housing and community development administrative rules.
(b) Any interest earned by the fund and any advanced costs that are recovered from housing project funds shall be returned to the revolving fund.
(c) Whenever used in this section, unless the context otherwise requires;
“Lower-income household” means households with incomes from 50% to 80% of AMI.
“Moderate-income household” means households with incomes from 80% to 120% of AMI.
“Very low-income household” means households with incomes from 0% to 50% of AMI.”
SECTION 2. Material to be repealed is bracketed and stricken. New material is underscored. In printing this ordinance, the brackets, bracketed and stricken material, and underscoring
need not be included.
SECTION 3. Severability. If any provision of this ordinance or the application thereof to any person or circumstance, is held invalid, the invalidity does not affect other provisions
or applications of the ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this ordinance are severable.
SECTION 4. This ordinance shall take effect upon its approval.
INTRODUCED BY:
________________________________________
COUNCIL MEMBER, COUNTY OF HAWAI‘I
INTRODUCED BY:
________________________________________
COUNCIL MEMBER, COUNTY OF HAWAI‘I
_______________, Hawai‘i
Date of Introduction:
Date of 1st Reading:
Date of 2nd Reading:
Effective Date: