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AN ORDINANCE AMENDING CHAPTER 11, ARTICLE 1, SECTION 11-15, OF THE HAWAI‘I COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO TRANSFER OF EXCESS AFFORDABLE HOUSING CREDITS.
BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI‘I:
SECTION 1. Chapter 11, article 1, section 11-15, of the Hawai‘i County Code 1983 (2016 Edition, as amended), is amended by amending subsection (d) to read as follows:
“(d) After approval of the excess credits, the developer may transfer the excess credits to any other project that is within the distance established in section 11-5(a)(3), to fulfill
part or all of the affordable housing requirements of the other project. The developer shall obtain approval for the transfer of excess credits from the housing administrator before
initiating any such transfer. The housing administrator shall validate any such transfer of excess credits upon completion of the transaction. Excess credits that are transferred in
violation of this section are voidable at the discretion of the County.”
SECTION 2. New material is underscored. In printing this ordinance, the 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 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: