Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Hawaii Housing Finance and Development Corporation › Chapter 311 - RENTAL HOUSING TRUST FUND PROGRAM › Subchapter 1 - GENERAL PROVISIONS › Section 15-311-2 - Definitions

Current through June, 2024
Whenever used in this chapter, unless otherwise
					 specifically defined:
"Capacity building" means the process of increasing an
					 organization's ability to achieve specific goals. Capacity building is often
					 necessary when a non-profit community-based organization undertakes development
					 activities for the first time. Costs associated with capacity building may
					 include, but are not limited to, administrative and salary costs, rent,
					 technical assistance, technical training, travel, literature, consultant fees,
					 attorney's fees and other costs associated with drafting articles of
					 incorporation, bylaws, and other legal documents; and reimbursement of other
					 costs incurred by a non-profit organization in obtaining tax exempt status
					 under Sections 501(c)(2), (3), or (4) of the Internal Revenue Code of 1986, as
					 amended.
"Corporation" shall have the same meaning as in section
					 201H-1, Hawaii
					 Revised Statutes.
"Develop" or "development" means the planning, financing,
					 acquisition of real and personal property, demolition of existing structure,
					 clearance of real property, construction, reconstruction, alteration, or
					 repairing of approaches, streets, sidewalks, utilities, and services, or other
					 site improvements, or construction, reconstruction, repair, remodeling,
					 extension, equipment, or furnishing of buildings or other structures, or any
					 combination of the foregoing, of any housing project. It also includes any and
					 all undertakings necessary therefor, and the acquisition of any housing, in
					 whole or in part.
"Equity gap financing" means additional funds required to
					 make a development project financially feasible, usually cash or subordinated
					 debt used to fill the "gap" between available financing, available subsidies,
					 and total development cost.
"Executive director" means the executive director of the
					 corporation or the executive director's designated representative.
"Government" includes the State and the United States and
					 any political subdivision, agency, or instrumentality, corporate or otherwise,
					 of the United States.
"Government record" means information maintained by an
					 agency in written, auditory, visual, electronic, or other physical form as
					 defined in section
					 92F-3, HRS
					 .
"Governor" means the duly elected governor of the State of
					 Hawaii whose office was created by Article V of the Constitution of the State
					 of Hawaii.
."Grant" means funds given to a non-profit or governmental
					 entity for the purpose of financing a qualified housing project located within
					 the State of Hawaii, with no obligation to repay the monies.
"Homeless person" means an individual who lacks a fixed,
					 regular, and adequate nighttime residence; and an individual who has a primary
					 nighttime residence that is a supervised publicly or privately operated shelter
					 designed to provide temporary living accommodations, an institution that
					 provides a temporary residence for individuals intended to be
					 institutionalized, or a public or private place not designated for, or
					 ordinarily used as, a regular accommodation for human beings. Homeless persons
					 may include, but are not limited to, elders, substance abusers, the mentally
					 ill, abused persons, youth runaways, single- and two-parent families, and
					 others with special needs.
"Housing", "housing project", or "project" means a plan,
					 design, or undertaking for the development of dwelling units, and includes all
					 real and personal property, buildings and improvements, commercial space, lands
					 for farming and gardening, community facilities acquired or constructed or to
					 be acquired or constructed, and all tangible or intangible assets held or used
					 in connection with the housing project.
"HRS" means the Hawaii Revised Statutes.
"Legislature" means the legislature of the State of Hawaii,
					 which was created pursuant to Article III of the Constitution of the State of
					 Hawaii.
"Loan" means funds lent to a non-profit, governmental or
					 for-profit entity for the purpose of financing a qualified housing project
					 located in the State of Hawaii with the obligation to repay the funds according
					 to specific terms and conditions as set by the corporation.
"Lower cost housing" in the context of identifying the
					 persons or families intended to be served by such housing, includes housing for
					 lower income persons or families.
"Lower income persons or families" includes those whose
					 incomes are identified as one hundred per cent or less of the area median
					 income. For the purposes of these rules, such persons or families include
					 persons or families within the following income groups:
(1) Those earning sixty per cent of the area median income
					 and below; and
(2) Those earning between sixty per cent and one hundred
					 per cent of the area median income.
"Median income" or "area median income" means the median
					 income for each of the counties of Honolulu, Hawaii, Maui, and Kauai as
					 determined by the United States Department of Housing and Urban Development
					 from time to time, and as adjusted by family size.
"Non-profit organization" means a corporation, association,
					 or other duly chartered entity which is registered with the State, and which
					 has received a written determination from the Internal Revenue Service that it
					 is exempt under either section 501(c)(3), section 501(c)(4), or so much of
					 section 501 (c) (2) as applies to title holding corporations that turn over
					 their income to organizations that are exempt under either section 501(c)(3) or
					 501(c)(4), of the Internal Revenue Code of 1986, as amended.
"Obligations" mean mortgages or other debt
					 securities.
"Predevelopment activities" means those housing-related
					 activities which are attributable to a specific housing project. Costs
					 associated with predevelopment activities must be allocable to a specific
					 housing project and may include, but are not limited to, staff and
					 administrative costs; rent; legal fees; preliminary site acguisition costs;
					 consultant fees for preliminary studies, feasibility studies, planning, design,
					 engineering, soils studies, and environmental studies.
"Program" means the rental housing revolving fund
					 program.
"Program funds" means funds which are from the rental
					 housing revolving fund.
"Qualified housing project" means a rental housing project
					 which complies with the requirements for funding set forth under this
					 chapter.
"Rental housing revolving fund" or "fund" means the fund
					 which was established pursuant to section
					 201H-202,
					 HRS.
"Rules" means these rules.
"Special needs" means social problems, age, or physical or
					 mental disabilities which may impair a person's ability to live independently
					 and for whom such ability can be improved by more suitable housing
					 conditions.
"Subordinate mortgage" means a mortgage which is stipulated
					 to be junior or inferior to one or more other mortgages. The subordinate
					 mortgage may allow that, with the consent of the corporation, the mortgagor can
					 refinance the mortgagor's property with a new first mortgage and still remain
					 in a subordinate position.