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HomeMy WebLinkAboutBIL 025 Draft 03 2004-2006 YY OiN `y COUNTY OF HAWAII STATE OF HAWAII BILL NO. 25 (Draft 3) ORDINANCE NO. AN ORDINANCE AMENDING CHAPTER 11 OF THE HAWAII COUNTY CODE 1983 (1995 EDITION), TO REVISE THE AFFORDABLE HOUSING POLICY FOR THE COUNTY OF HAWAII BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. Findings and Purpose. Pursuant to Section 2-66 of the Hawaii County Code, the Hawaii County Housing Agency is seeking to revise the affordable housing policy for the County of Hawaii. The purpose of this ordinance is to establish by law an affordable housing policy in furtherance of the Hawaii County General Plan's goals and policies. The General Plan contains goals ofattaining adiversity ofsocio-economic housing mix throughout different parts of the County, improving and monitoring the quality and affordability of the existing housing stock, and seeking sufficient production of new affordable rental and fee simple housing in a variety of sizes. This affordable housing policy is adopted in consideration of certain General Plan policies which provide that the County shall: 1. Aid and encourage the planning and development of a wide variety of housing to achieve a diversity ofsocio-economic housing mix; 2. Developments which create a demand for housing shall provide employee housing based upon a ratio to be determined by an analysis of a locality's needs; - and 3. Encourage and support private sector efforts in the provision of affordable housing. It is the intent of the County Council that this affordable housing policy be understood and implemented in the future to ensure fairness and flexibility to persons and entities which must satisfy requirements established under this policy. SECTION 2. Chapter 11, of the Hawaii County Code 1983 (1995 Edition) is hereby amended to read as follows: "CHAPTER 11 HOUSING Article 1. Affordable Housing Section 11-1. Title. This article shall be referred to as the County of Hawaii Affordable Housing Policy; Section 11-2. Objectives. The objectives of this affordable housing policy are to: 1. Implement goals and policies of the General Plan; 2. Promote and assist private development of housing for senior citizens, persons with disabilities and qualified households; 3. Use available governmental grants and funds in the development of affordable housing and increase the capabilities of qualified households to obtain affordable housing; 4. Support innovative, lower-cost approaches which may be used in the development of affordable housing; [aad] 5. Require large resort and industrial enterprises to address related affordable housing needs as a condition of rezoning approvals, based upon current economic and housing conditions,[.] 2 6. Require residential developers to include affordable housing in their projects or contribute to affordable housing offsite. Section 11-3. Definitions. The following words and phrases, unless the context otherwise requires, are defined as follows: (1) "Affordable housing" means dwelling units which may be rented or purchased at cost levels which can be afforded by persons or families who are within the definition of "qualified households," as provided herein; (2) "Affordable housing income guidelines" means those household income levels which shall be tend ~ lnnoi „F?"°,„°a:^~ F^..,;1, , ~e ..1. ^F published annually by the Office of Housing and Community Development and as described further herein; (3) "Fifteen mile radius" means the distance from the site in question as measured in road miles using the most direct route• ' - ...~.,,,..,..ndi.id;.:.l.,r'., ° °7^~°a".,k~loed~slate- , r..^..`.,.,...Fj.,, b.:.....w„omp~ vr-imxr'iias~ .1.. „n:.. .,.,.1 e..l 1.,...,.,.1...1.1 1, Mt}' d bl°l, ~ ,:.J 1: la t~F..',-a ..,».,::'.b ~'a~a°c xnc°s or w rro~vvcnv--oa~cr-w},T°c~iz&rnTn St:.te ;r .ed~r,^.l „FF ..l„I.I° ~ (4) "Qualified households" mean an individual or two or more related by blood, state-sanctioned adoption, foster parentage, guardianship, or marriage~pying a dwelling unit and whose total household income is within the affordable housine income guidelines or who would otherwise 3 qualify in a state or federal affordable housing_pro¢ram ~'"~i ~ ......~...b . o ..,~,:,.H : .,rF,..a.,4.io ,...,i:roa ti,...,.ew,.ia.. e o .4..,., i n not ,.F.Ho .,..oa:..., : 0 4~,.. „ 4'.,.,,: i. ,.c c ,.c u.,., (51 "Affordable unit" or "affordable housing unit"means a lot or dwelling unit for sale or lease which is affordable to qualified households earning no more than the percentages of the median income in the County of Hawaii as stated in this chapter; (6) "Eligible buyer" means a person who meets eligibility requirements, including income limitations, as established b Section 11-4. [ ]Affordable Housing Requirements. ~a~ fD e,... e..... F,... ..ems....:..,. 1.:,.1.....,...,...0.1.0 0.....1.G..1..«,.... ,.F .....:.J o...: ,.I ..e.. i2 ~ n . ,.F.,,...i I.o ,1,,.,,.1,....,.,1 i.,.,..,,l e,l Cv~ro-Cyr-r`"rz'v`r~FHN~S ~2H-~°cic°cn «s-c~oc-ua~civpccr-~zvm~crca t.. rl.o ~..r ...4,,,10 l.o«\l The affordable housing requirements shall apples (1) All new rezonings that may create additional residential uses, including rezonings, to RS, RD, RM, RCX, RA and FA districts, and APD rezonings where lot sizes are less than five acres, and CG, CV, CN and PD districts when residential uses are established in those districts; (2) All new rezonings to resort, including hotels established in CV, CG, CDH 4 or PD districts; (3) All new rezonings to ML, MG, and MCX districts; (4) All prior rezoning actions which contain affordable housinx conditions that have not been satisfied as of the effective date of this ordinance, or to which the County has not a rg eed previously as to the specific means of satisfying the requirements. (b) Requirements for Residential Uses. [e,,.:..+,.,..:,.., ,.r.wo.,e .e,,.,:..e...o.......:n ~1) Pour or fewer residential units or lots: no requirement; (2) Five or more residential units or lots: the applicant must earn affordable housing credits equal to 20 percent of the number of units or lots (rounded to the nearest.5); (3) Time share units shall be considered as residential units. (c) Requirement for Resort and Hotel Uses. Resort and hotel uses generating more than 100 employees on a full-time equivalent basis must earn one affordable housing credit for every four full-time equivalent jobs created. ['r.,,ri;~,r+~ u""'~"="~~e~.~,~ 5 «r 4'...1...:.7. o va r.. :.701... Ff ,J hl h J e« «b r.,...o~o.J Th.. I: e.. F o ..«.,...«r ....,.«....,.,1 R... .ham . b 1 ~O'7 .7..11..«.. Tho I:,.., F o «r h,. , «.7... e,7 h., h A....«... ...1 h.,,.:.. Tho I:.... F h II h L.. J..ro.l h....o,J rl.,, i,...,o.,r «.,I1., ..:1..1.1 F ~ be ,J .....uv.a, ivra }h;.-r., v 4ivo.7 «...M..n..e C~«t,....1.,..- I ..F onrl. . f~~Pres}seen el allerdahle he'ci~in~vi~iis-oir-piop°cirj'~^inc^i ih..« t~ h:..h h,... h..o« rho h: o,.r ,.F rl.., .J oro....;«0.7 h., o«r ..F l..e /h., ...,I\ ..F rh..• «r..a...r:,.« Hl°°•••••.-a~rzcv i~uiir~t rho o..ro.J I: o., F o h.o rh.,r LJ ..rl. o«..:.e L.... ho o.l rccr. D.-,..: ,.F:«f .,..r«, ..r..«o l..o...: /`....r.a...r; ........F F.....r.....r...o .,...J e.. ho ,.....e«ro.J r:.. F. FF.....l.. hle h.,....:«...e,...:..e«.e«r. The .,F«....r«....r..«o :Ae,7 ho .J:«o..H., .ol..ro.7 r.. rho F... .,FF,..-,l..h l,. L.,.....:«...,«:r.. Tho .,.,L,o ..F rho ....«r.; h..r:..« ..,:I1 h ..............e,7 ..r rh..:« I:.,.. Fee ..«.....«r rh..r L7 ..rho... d..o h... o h ..,.,7 rl... h....:.. F... .,Il,.,.,.r:«,. ,,..o,l:r C~\ n rl. e.,«..., h:,.h e.7 h. rl.o r., U.... A..o....J (d) Requirements for Industrial Uses. The industrial uses that must fulfill the affordable housing requirements are any uses allowed as of right in an ML or MG 6 district, except for home improvement centers, and any uses that are also allowed as of right in a CG district. Individual industrial entemrises generating more than 100 employees on a full-time equivalent basis must earn one affordable housi~ credit for every four full-time equivalent jobs created ~I~~ FF «,J.,I.Ie 1.,.....:.. o..t.. ,.1_..u H a ti o rr r h 'Irl' F rl,o .,„I. o~ ,.t . N' H 1, J bY~ Y~~.1~ Y~ M od Tl.o L7,.....:«,. A ..o.,,.. ..I...I I ,J ot,......:..o ?l.o : ..I,..«,. ....L . .....J .......,..,b . ,cucT-m~a~x ac mxv~nro ouc-rir~cn-rc~iscmm~ ....J 1.....o,J ~Ho F. e.. ,.f ,...,.1. Section 1 1-5. Satisfaction of Affordable Housing Requirements. [~irsa„~-f~ (a) The developer may satisfy the affordable housing requirements by doing any of the following: (1) Construct affordable for-sale units on site; (2) Construct affordable finished lots on site, but only if the entire project consists of finished lots; (3) Construct affordable for-sale units off site, but within a 15-mile radius of the proiect site; {4) Construct affordable rental units on site, or off site, within a 15-mile radius of theproject site; (5) Pay in-lieu fees to the Agency; (6) Provide developable land, within a 15-mile radius of the project site, with a value determined by appraisal, that shall be credited against the in-lieu fee; 7 (7) Provide infrastructure within a 15-mile radius of the project site that shall be credited against the in-lieu fee. Any infrastructure provided must be directly related to the future provision of affordable housing; With the approval of the administrator, construct housing on site or off site, that addresses a critical regional housing need at least equivalent to satisfying the requirements of any sub-sections (1)-(4) above provided that the project must be located within the allowable areas for in-lieu fees under Sec. 11-12' (9) Obtain excess credits from another developer pursuant to Sec 11-15 L `t b 6 « 1!1!1 a „I... ~ :II t,o ..,.,7 1...,.,,,7 „..I. ,.FF 11 F II t: „,o o....:.,..lo„r :..1... ,.e„o«..r.„J rl.,. «,.,...1r„„r „..„.l.o« ,.F I..,.....,.1. is 1. „.,.rto.7 L,., rl...~o :,.1... rl.e „ ,,,.r,.,l „ .«4..« ..F rl.....e ,....1: F. ,.,7 d.:..l... o ao..,.«a.e,7 l.ol.... 'I'L., „I,.. ,,.o «o L.re,T FA.«,l.. i.l,. 1.... „,7: r:,.„ ..L..I1 l,~ ....r:..F. ,,,7 F..I L... /1 \ Tl,o „ ,.F'1G FF,. «,J..1.1,. L.,.....:„,. ,.„:ram F..« 0 1!1!1 « Cam! ..„.„I,.. moo.. ,.o„,.«..r,.,l «o..,.lr ..F rl.o «o....„:„....,.r:.:r. TY.o CF:.«.T..l.le .-.,,k.,.,y.,.,~ b.,,,.,........ M,.....:„... „:x....1...11 L.,. FF «.7., Hlo r.. rT...~o .,C4: e,T 1.,.„..,,1.,.I,J,. o ......~..,b l.or..,vo„ Gl10% ,.„,J 1 ~l10% ,.F rl.,.... o.l:.,„ „.o „F,. F.,.„:1., ,.F F T„ rl,o .,Iro«„.,r:.,a rl.o «o .,,1 l.,.l,~o« :r., ate..: ..1.„.:r L,... „..e,T...,.... e....„. ~,„t r,. rl.., /`,...„r. Ll,.„..:„,. A ..o„... 1.,...:.. F,.« ,{oro«...:., .,r:..„ ..F rl.o „I:...,l.le o „1....00 1...,...:„.. « ~„r F,.« 8 .Dp,.:+: ao ~I,. ..t ....,1 1„ F „lo ..t..t: ,.t: at..L_ Ym ~Y . ..I ,.F rl.o t.. L7,,..,. A,.o..,.., a}.f.:......... E?~1'hp l.e« ,.F ,.FF..«.J..1.1.. 1.,... ~:..b , t, 11 a t, - - F Glnf1 I «:r F « e , t..,.. l...rol N 'I 'a a t, rj ..............w .,.......3 r,rovmca-rrr-mc (b) The affordable unit or finished lot shall be completed with road access drainage water, electricity, sewer lines, if required, and telephone and in the case of finished lots, shall not have unusual site conditions that make it difficult to build a home. ~Re:;:: c.s fer rci~=:.~;.~". ;,:eY:;.,.,c ;;:e °~t ;~.::~l:m..,a~ F ,J I -ate y.ro.J ....l.e« ,.F o.J 1....,..e1...I.J....,1.:..1. 1.,. t: al o.J t,. 1.,...,.' r...~_ y,..,..,,,, a~ .,,,......GZO-,.oos.rrg ,.t......o „,J ..tl.,~« F t,.«..., l.e :,J o..a: F. ,.,J Tl.o 1 1. I,J A 1..,~:.. F..« ,J oto«...:..,, r:.... „F Q.o ..I:,...l.l,. ..I,., a «„l..a,,,l .b. ° z~.1 (c) Affordable Housing Credits. The developer shall earn affordable housing credits as follows: (1) Sale of completed dwelling units affordable for qualified households earning 120-140% of median: 0.5 credits per unit; (2) Sale of completed dwelling units affordable for qualified households earning 100-120% of median: 1.0 credits per unit; 9 (3) Sale of completed dwelling units affordable for qualified households earning 80-100% of median: 1.5 credits per unit {4) Sale of completed dwelling units affordable for qualified households earning less than 80% of median: 2.0 credits per unit (5) Construction of rental units affordable for qualified households earning 80-100% of median: 1.0 credits per unit; (61 Construction of rental units affordable for qualified households earning 60-80% of median: 1.5 credits per unit; (7) Construction of rental units affordable for qualified households earning less than 60% of median: 2.0 credits per unit; (8) Sale of finished lots affordable for qualified households earning no more than 100% of median: 0.5 credit per lot; (9) Sale of finished lot affordable for qualified households earning no more than 80% of the median: 1.0 credit per lot. [e°':°F ^F'we°° ..i.o_..,..:.,,... (1 \ Dr...:..:..« f 'tl.....t tl... 1..«.1 1..: ,.L 6,.,. c.~ ,....,,o,. o. a€ferdal3{e herls}ng units witktin-~.~~:.,.~.-,:,., i.oo.. rl.o L.: o,.t ..F al.e E~Lr.,_I:o _r~£_tl-.o Yro_ .~F FF....J.,I.Io 1..... ~:..~..«:t.. tl.,...FF....J..I.Ie L.......:..g . ho ...,ti ~F. o.l A.e F IL....:......... th,. ....l..e ..F.. 1.:..1. ..,y , ~l..,ll ho 1..,...~.J . ...1.... L.ti......F 1:.... F...... F .....w:....1..«..,. E,~.j i?.°iji n~ ..F l:o.. Foo.. Tl. o..o Feo.... L...l ~ro.l h. .J ete......:..:.... tl.o ..t ..F ....I...:.J. «e.l t..... :.7 1.......:.......: t.... FF,...,l,.l.l 10 FF ..,7,.l.lo . «a ..,.,7 1 (10'7 ,J,.11 T1. 1' F J Y J J 6 b 1 h~~: Tl... ' I' F L. 11 1. 1 1 ,l L L 1.... ~...t «..11. .,:I„hlo :wo...,..t «..ao F,,.- R.: «t F ,7 ,b~... ..y .b..b., .°°".tiio Qiloxc ~i~°c.°..,.....°..'{. °"::..'1....::.,u :r I L ;.b ~...".jw mac rnus 7 «,7 l.o o«toa .,.....ti.. F.... FF,.«.J..l.l0 1.,.„..:«,. ll:.o..t l., «el..te,7 t,. tl... « ~ F... Fl ..l .,hle 1...„..:«,.. „:a.. Tl.e J w...a t.:.~.. ~l..o ..F a4.o ,.,.„f.a...ti,.« ..:II 1 ................1 .,...,:„..t A.e I:,... F .,«.,..«a N...t ,,...7,7 ,.al.,..... 1..,..o l.oo„ .o,...:..o,l A.,, h.,..:.. F,... c¢rr. E~~f~klj~B~}3BT' 17323fi3S \V}39Eii aic a.FpivV°vE{i--ih%j in~cossinT ihvci8iig ` `6y"y~ E~\ A„ «lo„.o„t..ti..„ «L.« t,.....ti.. F. F4;...,7..1.1,. 1.,.„,.:„,. .o e«t.... L...II h,. «.J,,..t.;.,l R,..a:r: o.. .,,4.:..1.. dll ..,too «L.. ...o«t Tl.o !`,...«a., U.,....:„.. 11 p. o vnv-axvrsr. Section 1 1-6. Calculation of in-lieu fee. The in-lieu fee for a completed dwelling unit shall be 25 percent of: the actual sales price of the unit minus the affordableprice for households earning 120% of the median. (b) The in-lieu fee for a t3nished lot shall be 25 percent of: the actual sales price of the lot minus the affordable price for households earning 100% of the median. (c) The in-lieu tee for each required affordable dwellin¢ unit for resort, hotel, and industrial uses shall be 25 percent of: the median sales price for asingle-family home in the tax map zone containin¢ the proiect, in the previous calendar minus the affordable price for households earning 120% of the median. (d) The in-lieu fee for each completed dwelling unit not offered for sale (such as units offered for rent) shall be 25 percent of: the median sales price for a sinele-family home in the tax map zone containing the project in the previous calendaryear, minus the affordable price for households earning 120% of the median. f n.J.l: r;..„.,I FF ..1., MIo 1.......:„,. .o o„ram f... .o ..F „FC ~:ro « «.,.w. F,... o„r....h.,ll ho . o.J ,:.J o.l rh.,r rho „ ..ol ..r:1:~o.J o ,.L...;, tel. F,... p....el :11 ho o ..o.l 4,.,..0.1 rho „ ..„rl:„e.J co,.ti,.« 1 1 it ..4.,.. Section 1 I -7. Calculation of Affordable Sales Price. 12 (a) The OHCD shall calculate the affordable sales price for various household sizes annually. The affordable sales price for completed units shall be the price that is affordable to households earning the stated percentages of the median income for the County of Hawaii, using the Housing and Community Development Corporation of Hawaii guidelines, and the most current annual average interest rate for a thirtyyear conventional fixed mortgage, not seasonally adjusted for the 12 months endive in the previous year, as published by the Federal Home Loan Mortgage Corp. For 2005, the affordable sales price for a household of four persons earning 100% of median shall be $203,400 less any adiustments due to association fees or similar fees. (b) The affordable sales price for finished lots shall be the affordable sales price for a completed unit for a household of four persons, earning 100% of the median income in the County of Hawaii, less the cost to build a single family home of 1,100 square feet in the general area, as estimated by OHCD. In 2005, the affordable sales price for a finished lot shall be $95,000. [eo,. ~n, c n«,.:o,.,.. Two !`..,,w.,4, o ..,..t,,.«:.. .......:.....t r_roc ~nt>~ t,e ...a:-,,.,t ,tt .....wo ..:a,.....:,... ,.F..,,a..,.,.a ,t o.,ot,....,, o.,........,t., «,t...l Section 11-8. Density Bonus. (aj Any project subject to an affordable housing requirement under this chapter that fulfills its housing requirement by constructing affordable dwelling units for sale or rent shall be entitled to a density bonus increasing the total number of residential units that may be constructed on the site by 10%, and decreasing the 13 minimum lot size by 10%, compared to the number of units otherwise allowable and the minimum lot size as established by the Zoning (b) If a project fulfills its affordable housing requirement offsite the density bonus can be used on the non-affordable site, or the affordable housing site or divided between the two sites. (c) The density bonus may not be used in the State Land Use Agricultural District or Rural Districts to create lots less than the minimum lot sizes required in those districts. ~cF:~ct c.,:...:..,, o,.,...:_,..,.o.,,, TL.:,...,.7:,.., ,..o«,.oa ,.n .,..._,..,,.,..6 ...,y,...,... ..fi «.M.. „rr «,J„i,lo t,,, o.,.,. n... FF,.«,J., i,lo 1,,..... ..,1:.:,.., rl,o«e,.F ,.«,1:......,.,....7.:,.1, H~,..,,.a 1.,.,... F..11 F ,J L, i, r .........::b ....,........o ......,...,...u svrmc effcot::.. d»t.°, : f ~e .....oow~'"1 v i' 1, ,.i t... ~ u j s ~rncss" rl,o .,:r:.. ,.F tl.,. ..,tip ti' ti r.......,..... , r.,....~ r., Io,.,.l i. «e,] ,.,.t:,.4. ...,.1. .,.I:ti,... CJ,... „ L. II t, fl+o «a:µl « C..:a ""t:~::~tl•• ^i CF ,l,.l.lo 1.,... ,J:f:,.« ~ Toivri~aricc •.v Y~ w uw O[[ O p.][ U~]OrCIRO1G ~~O GJSI]gGOZIq~[[~fTI]TS[l~ ~vv h.ch ve, ~.um~, a,f i~~rty tl ae efi~~it~ ve dutV 4V3 RT1Tr]012C~~ Section 11-9. Sale of Lots and Units. (a) Before obtaining final subdivision approval or plan approval for any for-sale residential project subject to the affordable housing requirements, the applicant shall enter into an agreement with the County that the required number of homes or lots will be sold at the required affordable sales price, or that the required number of rental units will be offered for rent at the affordable rental price or that 14 the in-lieu fee will be paid upon the sale of each for-sale dwelling unit or lot or that the applicant will obtain excess credits sufficient to satisfy its reauirements Before obtainin tg final plan approval for any resort hotel or industrial protect or not-for-sale residential project subject to the affordable housing requirements the applicant shall enter into an agreement with the County that the affordable housing requirements will be met before the issuance of a certificate of occupancy for the proiect. (c) All agreements shall be recorded aeainst the property and that the in-lieu fee if applicable, shall be a lien payable upon the closing of sale of each unit or lot or prior to the issuance of a certificate of occupancy under subsection (b) (d) All for-sale affordable units and lots shall be sold only to eligible buyers during a 90-day preferential marketing period. (e) If the developer cannot sell the units or lots to eli ibg le buyers during the 90-day preferential marketing period, the units shall be offered for sale to persons who are otherwise eligible, but have previously owned a residence, for an additional period of 30 days. If a unit or lot cannot be sold after the 120-day period, the developer may sell the unit or lot to any person at the affordable sales price The Agency may also purchase the unit or lot after the 90-dampreferential marketi~ period at the affordable sales price. Section I1-10. BuyerofPinishedLots. The purchaser of a finished lot that is used to fulfill an affordable housine requirement, and that is sold during the preferential marketine period, shall enter into a binding contract for the construction of a residence on the lot within two years of the date of sale, and complete 15 construction within three years of the date of sale, or if the purchaser is an owner-builder shall commence construction within two years and complete construction within three years of the date of sale. Durinv this three-year period, the purchaser may sell only to eligible buyers as determined by the administrator, and the sales price shall not exceed the on inalpurchase price plus an inflation factor based on the increase in the Consumer Price Index for Honolulu and reasonable compensation for improvements, if any, made by the purchaser. If the purchaser does not meet these time limits, the purchaser shall offer to sell the lot to the Agency or at the election of the administrator, to eligible buyers, at a price that does not exceed the on final purchase price plus an inflation factor based on the Consumer Price Index for Honolulu plus reasonable compensation for improvements, if any, made by the purchaser. Section 11-11. Rental Units. (a) The Agency shall determine the affordable rental price for units of various sizes annually. ~b~ The developer shall enter into an ayreement with the County that the rental prices on the units shall be controlled for no less than twenty nears after initial occupancy. Section 11-12. Use of In-Lieu Fees. The in-lieu fee shall be used to support affordable housing located no more than 25 miles as measured on a straight line, from the proiect that venerated the in-lieu fee provided that the Agency can authorize use outside of this distance restriction if it determines that the project is necessary to satisfy a critical housing need. Section 11-13. Elie 16 The administrator shall establish eli ibility criteria by rule. Eligibility criteria shall include residency requirements to the extent permitted by law The administrator may allow households with incomes up to 20% greater than the income on which the maximum sales price was based to be qualified to purchase a unit. Section 11-14. Resale restrictions. 'The Agency shall establish resale restrictions by rule to ensure that units created under this policy remain affordable. Such rules may include, but not be limited to, buy-back shared appreciation, and other restrictions. 'fhe administrator may be delegated the authority to select the resale restriction applicable to a particular ~roiect. Section 11-15. Transfer of Excess Credits. (a) Developers who construct new affordable housing units in excess of any requirements imposed under this chapter or any other requirement ma, "excess credits" which then may transfer to other developers. (b) The developer shall earn the excess credits pursuant to Section 11-5(c). jc) To qualify for excess credits, units must be sold or rented to qualified households The developer shall apply to the administrator for approval of the excess credits. {d) After approval of the excess credits, the developer may transfer the excess credits to any other protect that is within the distance established in Section 11-5(al(3) to fulfill part or all of the affordable housine requirements of the other project. (e) If the proiect applying for the excess credits was developed with a direct subsidy from the federal, state, or county governments, the administrator shall either (1) discount the excess credits earned by the value of the subsidy, or (2) require that the Agency or other public entity subsidizing the protect share equitably in the 17 proceeds from the transfer of the excess credits. The administrator may waive these requirements if the proiect earnine the excess credits addresses a critical housing need and the excess credits, in addition to the direct subsidv are or were a necessary inducement to the construction of the project or if the excess credits are earned by anon-profit entity that will use the proceeds for the construction of more affordable housine. U) For the purposes of this section, a "direct financial subsidv" includes the provision of land at below market value, or governmental construction of infrastructure necessary for a housine project, but does not include density bonuses, zoning or other permitting exemptions under H R S Sec 201G-118 or federal or state tax credits for the construction of rental housinu. Section I1-16. Section 201G Projects. The County's exemption authority, as contained in H.R.S. 201 G, may be utilized to expedite change of zone requests, subdivision applications, and plan review as well as the consideration of reduced development standards. Section I 1-17. Effect on Existinu Requirements. fhis policy supersedes all previous affordable housing requirements and Hawaii County Housinu Agency Resolution 65 dated Ma~2, 1990 and Ordinance 98-1. Anv affordable housing condition or portion thereof in any prior rezoning ordinance which has not been fully satisfied as of the effective date of this policy shall be reassessed pursuant to thispolicv unless the County has previouslygreed as to the specific means of satisfyen¢ the requirements, in which case this amended policy shall apply only to the extent it is not inconsistent with the anreement In no event shall the County of Hawaii reimburse or be oblieated to reimburse any person or entity for 18 the partial or full satisfaction of an affordable housing condition in any ordinance which became effective prior to the effective date of this policy. Section L 1-18. Adoption of Rules. The Housing Administrator is authorized to adopt such rules pursuant to Chapter 91 Hawaii Revised Statutes, as are necessary to carry out this ordinance. Section 11-19. Reports by Administrator. The administrator shall make timerperiodic reports to the A eney of all significant actions taken under authority of this chapter, including but not limited to the approval of excess credits, the acceptance of transferred credits, and the choice of resale restrictions." SECTION 3. Material to he repealed is bracketed and stricken. New material is underscored. In printing this ordinance, the brackets, bracketed material and underscoring need not be included. SECTION 4. If any provision of this ordinance or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or application of this ordinance which can be given effect without the invalid provision or application, and to this end, the provisions of this ordinance are declared to be severable. SECTION 5. The Clerk of the County of Hawaii is directed to insert the effective date of this ordinance in any section of the County Code which requires reference to this date. SECTION 6. This ordinance shall take effect upon its approval. IN'1'1~OD~1C , BY ~1, COUNCIL MEMBER NT OF HAW I'I Hilo, Hawaii Date of Introduction: Date of 1st Reading: Date of 2nd Reading: Effective Date: c,__ii~r;t: '~omrn. 72.6 19